By Fatima Saka
The Senate on Wednesday confirmed the nominations of Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN) and Peggy Ufanima Onwu as Independent Director on the board of the Nigeria Deposit Insurance Corporation (NDIC), reinforcing ongoing efforts to strengthen the country’s financial system leadership.
The confirmations followed the consideration and adoption of a report by the Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Mukhail Adetokunbo Abiru.
Presenting the report, Senator Abiru said both nominations complied with relevant provisions of the CBN Act and the NDIC Act. He noted that the committee conducted thorough screening exercises and found the nominees qualified, competent, and suitable for their respective roles.
According to him, Yuguda demonstrated a strong grasp of monetary policy responsibilities and the operational framework of the apex bank during his screening.
Abiru added that the nominee’s professional background and experience further underscored his capacity to serve effectively as Deputy Governor.
The committee also reported that no petitions were received against Yuguda’s nomination and that he was duly cleared by security agencies, including the Nigeria Police Force and the Department of State Services (DSS), in addition to submitting his Code of Conduct documentation.
Similarly, Abiru said Onwu exhibited the requisite expertise, knowledge, and professional experience required for appointment as an Independent Director of the NDIC.
He confirmed that her nomination met statutory requirements and that she was also cleared by relevant security agencies, with no adverse petitions recorded.
Following the presentation, the Senate consolidated the two reports and approved the committee’s recommendations through a voice vote presided over by the Senate President Godswill Akpabio.
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In his remarks after the confirmations, the presiding officer congratulated the nominees and expressed confidence in their ability to contribute meaningfully to Nigeria’s financial stability and institutional integrity.
The Senate also commended the President for nominating individuals it described as capable and experienced, urging the appointees to justify the confidence reposed in them through dedicated service to the nation.
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