The Nigerian Senate on Wednesday confirmed Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN).
The confirmation comes after his screening and clearance by the Senate Committee on Banking, Insurance and Other Financial Institutions.
Recall that President Bola Tinubu had approved in March the appointment of Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate.
The appointment is in conformity with Section 8(1) of the Central Bank of Nigeria Act, 2007.
In a statement by the Special Adviser to Tinubu on Information and Strategy, Bayo Onanuga, Yuguda’s nomination comes on the heels of the appointment of the erstwhile Deputy Governor, Mr Bala Bello, as Special Adviser to the President on Political Economy.
Later, the President asked the lawmakers to confirm Yuguda.
Yuguda was reportedly given the privilege of a “take a bow and go” on Wednesday morning by the Senate Committee during his screening before the start of plenary.
The chairman of the committee, Senator Adetokunbo Abiru, had initially indicated that the nominee should be asked questions on monetary and fiscal policy, in view of the strategic importance of the office.
But this was overtaken by a motion moved by Senator Osita Izunaso, who urged the panel to respect the long-standing Senate tradition for well-known and previously vetted nominees.
Izunaso who was seconded by Senator Sarafadeen Alli (Oyo South) said Yuguda had been screened multiple times in the past for critical national assignments including his role as Director-General, Securities and Exchange Commission (SEC) and as a member of the CBN’s monetary policy structure.
“The nominee has consistently demonstrated competence and integrity in previous roles,” he said.
He said the lawmakers already knew of his record.
The committee voted by voice vote, and it was unanimous for the motion, and so cleared Yuguda for confirmation.
