President has nominated as Deputy Governor of the (CBN), subject to confirmation by the Senate.

The nomination was disclosed in a statement issued by the President’s Special Adviser on Information and Strategy, , on Wednesday.

According to the statement, the appointment aligns with Section 8(1) of the Act 2007, which empowers the President to appoint the CBN governor and deputy governors pending approval from the National Assembly.

Appointment Follows New Political Economy Role

Yuguda’s nomination comes shortly after former CBN Deputy Governor was appointed Special Adviser to the President on Political Economy.

President urged the nominee to demonstrate professionalism and dedication in strengthening Nigeria’s financial system and supporting economic stability.

Yuguda’s Career in Finance and Regulation

Before his nomination, Yuguda served as Director-General of the (SEC) between 2020 and 2024.

He graduated with a Bachelor of Science degree in Accountancy from in 1983 and later obtained a master’s degree in Money, Banking and Finance from the , United Kingdom, in 1991.

Yuguda is also a Fellow of the (ICAN) and a Chartered Financial Analyst (CFA).

Experience at CBN and IMF

His professional career began at the in 1984, where he worked as a Senior Supervisor in the Foreign Operations Department.

Between 1997 and 2001, Yuguda served as an economist in the Africa Department of the (IMF) before returning to Nigeria.

He later became Director of the CBN’s Reserve Management Department and retired from the apex bank in 2016 after six years in the position.

If confirmed by the Senate, Yuguda will join the leadership team of the at a time when Nigeria continues to navigate economic reforms, inflation concerns, and foreign exchange management.

The post Tinubu Nominates Lamido Yuguda as CBN Deputy Governor, Awaits Senate Confirmation appeared first on Housing TV Africa.

The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have asked the Federal High Court in Abuja to first determine whether it has the jurisdiction to hear a lawsuit filed by Aso Savings & Loans Plc and Union Homes Savings & Loans Plc over the revocation of their operating licences.

The two regulators raised the objection on Monday during proceedings before Justice Emeka Nwite, arguing that jurisdiction is a threshold issue that must be resolved before any other application can be considered.

The mortgage banks are challenging the recent withdrawal of their licences by the CBN and are seeking court orders to restrain the NDIC from taking further steps, including liquidation, pending the outcome of the case.

CBN’s counsel, Onyeka Ezeah, told the court that the issue of jurisdiction is fundamental and must be addressed first, citing a 2022 Supreme Court ruling which held that courts must resolve jurisdictional questions before entertaining substantive reliefs.

NDIC’s lawyer, Abubakar Shehu, aligned with the CBN’s position, insisting that the corporation acted within its statutory mandate once the licences were revoked. He urged the court to adjourn the matter to allow full arguments on the preliminary objections filed by both defendants.

Counsel to the mortgage institutions, Joseph Silas, argued that the suit was scheduled for the regulators to “show cause” why the court should not restrain them from further action. He warned that continued liquidation steps by the NDIC could cause irreversible damage if the court later finds the licence revocation unlawful.

He maintained that the law grants the affected institutions a 30-day window to challenge the CBN’s decision and urged the court to preserve the status quo to protect both the plaintiffs and their depositors.

Responding, NDIC’s counsel said the agency was acting in the interest of depositors who were unable to access their funds, noting that the law empowers NDIC to step in immediately after licence revocation. He added that shareholders could seek damages if the banks eventually succeed in court.

Justice Nwite, while noting the competing arguments, described jurisdiction as a “threshold issue” and declined to make any interim orders. He adjourned the case until January 21, 2026, for a hearing on the preliminary objections filed by the CBN and NDIC.

The suit, marked FHC/ABJ/CS/2776/2025, was filed by Aso Savings & Loans Plc, Union Homes Savings & Loans Plc, and two individuals against the CBN and NDIC.

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