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The Nigerian Senate on Wednesday approved Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN).
This is after he was screened and cleared by the Senate Committee on Banking, Insurance and Other Financial Institutions.
Recall that President Bola Tinubu had in March approved the appointment of Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), subject to confirmation by the Senate.
The appointment is in line 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.
The President later asked the lawmakers to confirm Yuguda.
On Wednesday morning, prior to the commencement of plenary, the Senate Committee reportedly gave Yuguda the privilege of a “take a bow and go” during his screening.
The committee’s chairman, Senator Adetokunbo Abiru, had earlier hinted that the nominee should be grilled on monetary and fiscal policy, considering the strategic nature of the office.
But this was overtaken by a motion moved by Senator Osita Izunaso, who urged the panel to adhere to 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 severally 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 a track record of competence and integrity in previous jobs,” he said.
“The lawmakers knew about his record,” he said.
The committee voted unanimously for the motion on a voice vote, thus clearing Yuguda for confirmation.
