Senate Moves to Confirm Yuguda as CBN Deputy Governor, Gets “Take a Bow” Treatment

The Senate is set to confirm Lamido Abubakar Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN) after its Committee on Banking, Insurance and Other Financial Matters recommended his approval following a “take a bow and go” screening session.

The development comes as the committee prepares to present its report during plenary on Wednesday in Abuja, paving the way for what is expected to be a swift confirmation by the upper legislative chamber.

Yuguda was nominated last week by President Bola Ahmed Tinubu for the position of CBN Deputy Governor, subject to Senate confirmation.

During his screening before the committee earlier in the day, lawmakers adopted the customary “take a bow and go” privilege, sparing him detailed questioning.

The Chairman of the Committee, Senator Adetokunbo Abiru (Lagos East), had initially indicated that members should engage the nominee on monetary and fiscal policy issues, given the sensitivity of the role.

However, Senator Osita Izunaso (Imo West) moved a motion to dispense with questions, arguing that Yuguda was already well known to the committee and had previously been screened for other key national assignments.

The motion was seconded by Senator Sarafadeen Alli (Oyo South).

Izunaso noted that Yuguda had previously served in top financial regulatory roles, including as Director-General of the Securities and Exchange Commission (SEC), adding that his track record had already been assessed by lawmakers.

Following the motion, the committee approved the request through a voice vote, effectively allowing the nominee to “take a bow and go,” a gesture often reserved for individuals considered well-qualified or familiar to the Senate.

With the committee’s endorsement secured, Yuguda’s confirmation as Deputy Governor of the CBN is expected to be concluded at plenary in the coming hours.