The Nigerian Senate on Wednesday confirmed Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), following a recommendation by its Committee on Banking, Insurance and Other Financial Institutions.

The confirmation came after the committee, chaired by Adetokunbo Abiru, presented its report during plenary. Abiru said the nominee met all requirements under the CBN Act and demonstrated strong competence during his screening.

He noted that Yuguda “impressively displayed his enormous financial and monetary knowledge,” adding that no petitions were received against him. The committee subsequently urged the Senate to approve the nomination.

The motion for confirmation was seconded by Danjuma Goje, who described the appointment by President Bola Tinubu as appropriate.

Presiding over the session, Senate President Godswill Akpabio put the nomination to a voice vote, with lawmakers overwhelmingly endorsing it. Akpabio later described Yuguda as a “square peg in a square hole,” commending the President for the choice.

Earlier in the day, Yuguda was granted the Senate’s “take a bow and go” privilege during his screening—a procedure reserved for nominees with established public records.

The motion was moved by Osita Izunaso and seconded by Sarafadeen Alli, both citing Yuguda’s previous engagements with the National Assembly and his track record in public service.

Izunaso noted that the nominee had been screened multiple times for key positions, including Director-General of the Securities and Exchange Commission and as a member of the CBN’s Monetary Policy Committee.

Yuguda’s confirmation strengthens the leadership of the apex bank at a time when Nigeria faces significant monetary and economic policy challenges.