The Senate on Wednesday, April 29, 2026, confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), following consideration of a report by its Committee on Banking, Insurance and Other Financial Institutions.
The confirmation was based on the committee’s recommendation after screening the nominee and reviewing his credentials, experience in financial regulation, and compliance with statutory requirements under the CBN Act.
Chairman of the committee, Senator Adetokunbo Abiru, presented the report to the chamber, noting that Yuguda demonstrated strong competence in monetary and financial matters during the screening exercise and faced no issues requiring further investigation.
The Senate subsequently approved the nomination through a voice vote during plenary presided over by Senate President Godswill Akpabio.
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Yuguda was earlier screened under the Senate’s “take a bow and go” procedure, a tradition often reserved for nominees with extensive public service records and prior engagement with the National Assembly.
Lawmakers referenced his experience in Nigeria’s financial sector, including his tenure as Director-General of the Securities and Exchange Commission (SEC).
His nomination was submitted by President Bola Tinubu in March 2026 in line with constitutional provisions requiring Senate confirmation for appointments into the apex bank’s top management.
With the confirmation secured, Yuguda is expected to assume duty as part of efforts to strengthen leadership at the CBN and support ongoing monetary policy reforms aimed at stabilizing the financial system.