Senate Confirms Yuguda’s CBN Appointment, Hails Tinubu’s Choice

• Nominee cleared without questioning, described as “square peg in square hole”

Sunday Aborisade in Abuja

The Senate on Wednesday confirmed the appointment of Mr. Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), endorsing President Bola Tinubu’s nomination with unusual speed and unanimous backing.

The upper chamber approved the appointment following the presentation of a report by its Committee on Banking, Insurance and Other Financial Institutions, which declared Yuguda eminently qualified for the role.

Chairman of the committee, Senator Adetokunbo Abiru (Lagos East), told lawmakers that the nominee met all statutory requirements and demonstrated deep expertise in financial and monetary matters.

He said the committee found no petition against Yuguda and urged his confirmation in line with provisions of the CBN Act.

“Based on his knowledge, experience and performance during the screening process, the committee recommends that the Senate confirm his nomination,” Abiru said.

The motion for confirmation was seconded by Senator Danjuma Goje (Gombe Central), who described the appointment as a sound decision by the president.

Following a voice vote conducted by Senate President Godswill Akpabio, the nomination was overwhelmingly approved.

Akpabio, in his remarks, commended President Tinubu for what he described as a fitting choice, noting that Yuguda was “a square peg in a square hole.”

Earlier, the nominee was accorded the privilege of “take a bow and go” during his screening by the committee—effectively bypassing detailed grilling.

The move followed a motion by Senator Osita Izunaso (Imo West), who argued that Yuguda’s competence was already well established.

Izunaso argued the nominee had been previously screened, multiple times by the Senate for key positions, including Director-General of the Securities and Exchange Commission (SEC) and roles within the apex bank.

Izunaso whose motion was seconded by Senator Sarafadeen Alli (Oyo South), said the nominee had consistently demonstrated capacity and professionalism in previous public assignments.

“Mr. Yuguda is well known to this Senate, having been screened on several occasions for critical national assignments. His track record speaks for itself,” he said.

Despite initial suggestions by the committee chairman that the nominee be engaged on monetary and fiscal policy issues, the Senate adopted the motion and proceeded directly to confirmation, underscoring the confidence lawmakers have in his credentials.

Yuguda was nominated by President Tinubu last week, and his swift confirmation signals the administration’s push to strengthen the leadership of the apex bank.