Senate Confirms Yuguda as CBN Deputy Governor

On Wednesday, the Nigerian Senate confirmed Yuguda as the Deputy Governor of the Central Bank of Nigeria (CBN). This confirmation followed a screening process conducted by the Senate Committee on Banking, Insurance, and Financial Institutions.

The nomination was in accordance with Section 8(1) of the Central Bank of Nigeria Act 2007. A statement from Tinubu's special adviser indicated that Yuguda's nomination was strategic, following the recent appointment of Bala Bello as Deputy Governor.

During the screening, Yuguda was given the opportunity to present his credentials and answer questions regarding monetary and fiscal policy. The committee's chairman initiated a motion to adopt the long-standing Senate tradition of previous vetting of nominees.

The motion, moved by Senator Osita Izunaso and seconded by Senator Sarafadeen Alli, led to a unanimous endorsement of Yuguda's nomination by the committee, resulting in his confirmation.