The Senate on Wednesday confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), describing him as “a square peg in a square hole.”
The confirmation followed the adoption of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, which cleared the nominee after a brief screening.
Presenting the report, Committee Chairman Adetokunbo Abiru said Yuguda met all requirements for the position in line with Section 8(1) of the CBN Act, citing his extensive experience and strong grasp of financial and monetary policies.
The motion for confirmation was seconded by Senator Danjuma Goje, who stated that President Bola Tinubu made the right decision in nominating Yuguda.
Senate President Godswill Akpabio subsequently put the nomination to a voice vote, with lawmakers overwhelmingly approving it. He commended Yuguda’s competence and praised Tinubu for the appointment.
Earlier, the nominee was spared detailed questioning during his appearance before the committee, as lawmakers invoked the “take a bow and go” tradition, citing his prior engagements with the Senate and previous screenings for key roles, including Director-General of the Securities and Exchange Commission.
The confirmation is seen as part of ongoing efforts to strengthen leadership at the apex bank and boost confidence in Nigeria’s monetary policy framework.
