Abuja, Nigeria — The Senate on Wednesday confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria, describing him as a square peg in a square hole.
Okay News reports that the confirmation followed the consideration of a report submitted by the Senate Committee on Banking, Insurance and Other Financial Institutions. Presenting the report, Tokunbo Abiru, Chairman of the committee, told the Senate that Yuguda is suitable for the position, citing his extensive knowledge and work experience, in line with Section 8(1) of the CBN Act. He said the nominee demonstrated strong financial and monetary expertise during his screening earlier in the day.
Abiru added that no petition was received against Yuguda‘s nomination and urged the Senate to approve his appointment. Danjuma Goje seconded the motion for confirmation, stating that “President Bola Tinubu made the right choice on the appointment,” prompting President of the Senate Godswill Akpabio to put the question to a voice vote, which was overwhelmingly supported by lawmakers.
In his remarks after the confirmation, Akpabio described Yuguda as a “square peg in a square hole” and thanked President Tinubu for what he called a very suitable nomination. Yuguda, who was nominated by President Tinubu last Wednesday, was accorded the privilege of “take a bow and go” during his screening by the committee.
Osita Izunaso, a member of the committee, moved a motion for the nominee to be allowed to “take a bow and go,” arguing that the committee had screened Yuguda multiple times in recent years for key positions. “The nominee before us for the position of Deputy Governor of the Central Bank of Nigeria is well known to us, having screened him three different times in the past for some other very important positions like Director General of Securities and Exchange Commission and member of the monetary control of the CBN,” he said.
