Senate Panel Approves Yuguda as CBN Deputy Governor

The Senate Committee on Banking, Insurance and Financial Institutions has cleared Lamido Abubakar Yuguda for confirmation as Deputy Governor of the Central Bank of Nigeria (CBN). This decision follows his nomination by President Bola Tinubu last week.

The committee, chaired by Adetokunbo Abiru, is expected to present its report to the Senate plenary later today, paving the way for final confirmation by the upper chamber. During the screening process, Yuguda demonstrated strong competence based on his prior public service record.

A motion was moved by Senator Osita Izunaso, urging the panel to adopt the long-standing Senate tradition of confirming nominees. This motion was seconded by Senator Sarafadeen Alli.

Yuguda has undergone multiple screenings in the past and has held significant roles, including Director General of the Securities and Exchange Commission and a member of the CBN's monetary policy structure. The committee's unanimous endorsement indicates a strong likelihood of formal approval within hours.