Senate confirms Abubakar as CBN deputy gov, Onuwu as NDIC director

The Senate has confirmed the appointment of Lamido Abubakar as Deputy Governor of the Central Bank of Nigeria (CBN) and Peggy Onuwu as Independent Director on the board of the Nigeria Deposit Insurance Corporation (NDIC).

Their confirmation followed the presentation of report of the Committee on Banking, Insurance and other Financial Institutions at plenary in Abuja on Wednesday, April 29, 2026.

The report was presented by the chairman of the committee, Abiru Adetokunbo (APC-Lagos).

Abiru said the committee received the resumes of the nominees and screened them accordingly.

He said the nomination of Abubakar as deputy governor of CBN was in accordance with the provisions of Section 8, Subsection 1 of the CBN Act.

He said Abubakar during the screening displayed a very good knowledge of the responsibility ahead of him, noting that his resume also speaks to his qualification and suitability for appointment as deputy governor of CBN.

Abiru said the committee did not receive any petition against his nomination for appointment.

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Abiru stated that Abubakar had been cleared by both the Nigeria Police Force and the Department of State Services (DSS), noting that the nominee also presented his code of conduct acknowledgement slip.

He said the committee after robust engagement with Abubakar and being satisfied with his experiences, performances, and academic qualifications recommended to Senate to confirm his nomination as CBN deputy governor.

On the nomination of Onuwu, the lawmaker said her nomination was in line with the NDIC Act.

Abiru added that Onuwu’s performance during the screening exercise was also indicative of her qualification and suitability for appointment as an independent of the board of NDIC.