The Senate has confirmed the appointment of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), alongside Peggy Onwu as an independent director on the board of the Nigeria Deposit Insurance Corporation (NDIC).
The confirmation followed the adoption of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions, presented during Wednesday’s plenary by committee chairman Adetokunbo Abiru. Lawmakers approved both nominees after considering the committee’s recommendations.
President Bola Tinubu had nominated Yuguda on March 11 and, through a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, urged the nominees to serve with dedication, professionalism, and a strong commitment to Nigeria’s economic stability and growth.
Yuguda, an economist, previously served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024. He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a CFA charterholder.
He began his career at the Central Bank of Nigeria in 1984 as a senior supervisor in the foreign operations department.
Between 1997 and 2001, he worked at the International Monetary Fund (IMF) as an economist in the Africa Department before returning to the CBN, where he later served as Director of the Reserve Management Department for six years until his retirement in 2016.
Yuguda’s appointment comes amid recent adjustments in Nigeria’s economic management team, including the appointment of former CBN Deputy Governor Bala Bello as Special Adviser to the President on Political Economy.
He was also confirmed in February 2024 as a member of the CBN Monetary Policy Committee (MPC).
