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Senate approves nomination of Lamido Yuguda as SEC DG

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PIB passes first reading in Senate

The nomination of Lamido Yuguda as the Director-General (DG) of the Securities and Exchange Commission (SEC) has been approved by the Senate.

While the Senate confirmed Yuguda as SEC DG, it also confirmed Reginald C. Karausa, Ibrahim D. Boyi, and Obi Joseph as full-time commissioners of the commission.

This was announced in a statement, Ezrel Tabiowo, the special assistant on press to Senate President, Ahmed Lawan, released on Wednesday.

He said the confirmation of the nominees came after the Senate considered the report of its Committee on Capital Market.

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In its report, the committee headed by Senator Ibikunle Amosun, recommended that the Senate “confirms the four nominees as appointed by Mr President, the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria to the Board of the Securities and Exchange Commission”.

In his speech after the confirmation of the nominees Lawan said:

“The Security and Exchange Commission must be efficient and effective in ensuring that we are able to attract and sustain not only domestic investment but foreign direct investment.

“People should bring their monies and feel safe with their investments here. This is essential to create a very enabling climate for investors to be attracted and retained here in the country.”

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