Buhari asks Senate to confirm Lamido Yuguda new SEC DG/ Lamido Yuguda

President Muhammadu Buhari has asked the Senate to confirm his nomination of Lamido Yuguda as the new Director-General of the Securities and Exchange Commission (SEC). 

Buhari made the request in a letter read by the Senate President, Ahmed Lawan, during Tuesday’s plenary.

Citing Section 3 and 5(1) of the Investment and Securities Act 2007 as the basis for his request, the President called on the upper legislative chamber to okay the appointment of Yuguda, a former Director at the Central Bank of Nigeria (CBN), as the new SEC DG.

“Pursuant to Section 3 and 5(1) of the Investment and Securities Act 2007, I write to request for confirmation by the Senate, the appointment of the following four nominees as Director General and Commissioners of the Securities and Exchange Commission (SEC). Their CVs are attached herewith,” the letter read.

Buhari’s request is coming two years and eight months after Mounir Gwarzo was suspended as the DG of SEC.

Erstwhile Minister of Finance, Kemi Adeosun, had suspested Gwarzo as the DG of SEC for allegedly approving the sum of N104 million for himself as severance package for being a former commissioner of SEC.