Senate Confirms Yuguda as CBN Deputy Governor

By Patrick Isaac

The Nigerian Senate has confirmed Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN) on Wednesday.

This followed his screening and clearance by the Senate Committee on Banking, Insurance and Other Financial Institutions.

President Bola Tinubu had approved Yuguda’s appointment in March, subject to Senate confirmation, in line with Section 8(1) of the CBN Act, 2007.

The move came after Tinubu appointed former Deputy Governor Bala Bello as Special Adviser on Political Economy, prompting the nomination.

During Wednesday’s screening, Yuguda received a take a bow and go privilege.

Committee Chairman, Senator Adetokunbo Abiru initially planned questions on monetary and fiscal policy due to the role’s importance.
However, Senator Osita Izunaso moved to follow Senate tradition for vetted nominees, seconded by Senator Sarafadeen Alli,
Izunaso highlighted Yuguda’s prior screenings as SEC Director-General and CBN monetary policy member, praising his competence, integrity, and familiar track record.

The committee unanimously approved the motion through voice vote, clearing Yuguda for full Senate confirmation.