The Nigerian Senate has confirmed Mr. Lamido Yuguda as the new Deputy Governor of the Central Bank of Nigeria (CBN) and Ms. Peggy Onuwu as an Independent Director on the Nigeria Deposit Insurance Corporation (NDIC) board.
The confirmation followed a report presented by the Senate Committee on Banking, Insurance, and Other Financial Institutions at the plenary session on Wednesday.
Yuguda’s Appointment and Credentials
Senator Abiru Adetokunbo, who heads the Senate committee, presented the findings of the screening process for Yuguda. He affirmed that the nomination adhered to Section 8, Subsection 1 of the CBN Act. According to Abiru, Yuguda demonstrated a deep understanding of his responsibilities as CBN Deputy Governor during his screening.
The committee received no objections to Yuguda’s appointment. Furthermore, both the Nigerian Police and the Department of State Security (DSS) cleared him for the role, with all necessary legal documents, including his Code of Conduct Acknowledgement slip, duly submitted.
Onuwu’s Appointment to NDIC Board
Senator Abiru also highlighted Ms. Peggy Onuwu’s suitability for the role of Independent Director on the NDIC board. He noted that her qualifications and professional background make her an excellent fit for the position. Onuwu also performed well during the screening process, confirming her readiness for the role.
Like Yuguda, Onuwu was cleared by the Nigerian Police and DSS, and she submitted her required Code of Conduct Acknowledgement slip. No objections were raised against her appointment, and Abiru encouraged the Senate to confirm her nomination.
Senate’s Move Toward Confirmation
After a comprehensive review of the nominees’ qualifications, the Senate is poised to formally confirm the appointments of both Yuguda and Onuwu. The process is seen as a significant step toward strengthening leadership in key financial institutions in Nigeria.
The confirmations come as part of ongoing efforts to enhance governance in Nigeria’s banking and financial sectors, ensuring the continued growth and stability of the nation’s economy..
