The Senate has confirmed the nomination of Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria, alongside the appointment of Peggy Onwu as an independent director on the board of the Nigeria Deposit Insurance Corporation.
The confirmations were approved during Wednesday’s plenary following the consideration of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions. The report was presented by the committee chairman, Adetokunbo Abiru, and subsequently adopted by lawmakers.
President Bola Ahmed Tinubu had earlier nominated Yuguda on March 11, with the announcement made by his Special Adviser on Information and Strategy, Bayo Onanuga.
In the statement, the President urged the appointees to carry out their responsibilities with professionalism and a strong commitment to Nigeria’s economic growth and stability.
Yuguda, a seasoned economist, previously served as Director-General of the Securities and Exchange Commission from 2020 to 2024. He is also a fellow of the Institute of Chartered Accountants of Nigeria and a charterholder of the CFA Institute.
He began his career at the Central Bank in 1984 and later worked with the International Monetary Fund between 1997 and 2001 before returning to the apex bank, where he rose to become Director of the Reserve Management Department prior to his retirement in 2016.
His latest appointment comes amid ongoing adjustments within Nigeria’s economic management team, including his earlier confirmation as a member of the CBN’s Monetary Policy Committee.
The Senate’s approval of both nominees is seen as part of efforts to strengthen key financial institutions and reinforce stability within the country’s banking and economic system.
