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Tag: Appointment

  • Senate Confirms Yuguda as CBN Deputy Governor, Approves Onwu for NDIC Board

    The Senate has confirmed Lamido Yuguda as Deputy Governor of the Central Bank of Nigeria (CBN), alongside Peggy Onwu as an independent director on the board of the Nigeria Deposit Insurance Corporation (NDIC).

    Senate backs committee report

    The confirmations were approved on Wednesday after the Senate Committee on Banking, Insurance, and Other Financial Institutions presented its report in plenary.

    Committee chairman Adetokunbo Abiru submitted the findings, which lawmakers adopted, clearing both nominees for their respective roles.

    Tinubu’s nomination and directive

    President Bola Ahmed Tinubu had nominated Yuguda in March, urging him to serve with professionalism and a strong commitment to Nigeria’s economic stability.

    In a statement issued at the time, the President called on the appointees to discharge their duties with dedication and support the country’s growth agenda.

    Yuguda’s experience in finance sector

    Yuguda, an economist, previously served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024.

    He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a member of the CFA Institute.

    His career spans decades, including roles at the CBN, where he started in 1984, and at the International Monetary Fund (IMF), where he worked between 1997 and 2001.

    Background within CBN system

    After returning to the apex bank, he served as Director of the Reserve Management Department for six years before retiring in 2016.

    He was later appointed to the CBN’s Monetary Policy Committee (MPC) in February 2024.

    Broader economic team changes

    His confirmation comes amid ongoing adjustments within Nigeria’s economic management team.

    Recent changes include the appointment of Bala Bello, a former CBN Deputy Governor, as Special Adviser to the President on Political Economy.

  • Tinubu Nominates Tegbe as Power Minister After Adelabu’s Exit

    President Bola Ahmed Tinubu has nominated Joseph Olasunkanmi Tegbe as the new Minister of Power and forwarded his name to the Senate for confirmation.

    Appointment follows Adelabu’s resignation

    The nomination was announced on April 30, 2026, in a statement issued by presidential aide Bayo Onanuga.

    It comes after the exit of Adebayo Adelabu, who resigned from the position to pursue his governorship ambition in Oyo State.

    In his resignation letter dated April 22, Adelabu said his decision would take effect from April 30.

    Profile of the nominee

    Tegbe, an indigene of Oyo State, brings over three decades of experience in finance, governance, and economic reform.

    He previously served as a senior partner at KPMG Africa, where he handled advisory roles focused on policy development and institutional reforms.

    Current role and international engagement

    Until his nomination, Tegbe served as Director General and Global Liaison for the Nigeria-China Strategic Partnership.

    In that role, he coordinated bilateral engagements and supported development initiatives tied to international cooperation between both countries.

    Awaiting Senate confirmation

    His appointment is subject to confirmation by the Senate, in line with constitutional requirements.

    If confirmed, Tegbe will take charge of Nigeria’s power sector at a time when the government continues to push for reforms aimed at improving electricity supply nationwide.