By Olugbenga Salami
Machinery has been set in motion for the Senate to confirm Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria during plenary today.
The Senate Committee on Banking, Insurance and Other Financial Matters is expected to present its report on the nomination at plenary.
Yuguda, nominated last Wednesday by President Bola Tinubu, received the rare “take a bow and go” privilege during his screening earlier today by the committee.
Although Committee Chairman, Senator Adetokunbo Abiru, Lagos East, had planned for members to question Yuguda on monetary and fiscal policies given the importance of the role, Senator Osita Izunaso, Imo West, moved that he be allowed to take a bow and go.
The motion, seconded by Senator Sarafadeen Alli, Oyo South, was premised on Yuguda’s familiarity with the committee.
“Mr Chairman and distinguished colleagues, in line with our tradition, 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 other very important positions, including Director General of the Securities and Exchange Commission and member of the CBN’s monetary policy committee,” Izunaso said.
“Personally, as Chairman of the Senate Committee on Capital Market, I had close interaction with Mr Yuguda as DG SEC and found him eminently suitable for the position of Deputy Governor of CBN nominated by President Tinubu,” he added.
Following a voice vote put by the Chairman, the committee unanimously granted Yuguda the “take a bow and go” privilege, paving the way for his confirmation by the Senate later today.
