Tinubu Asks Senate To Confirm Ex-SEC Boss Yuguda As AMCON Board Chairman

July 8 () — President Bola Tinubu has asked the Senate to confirm the appointment of Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON), citing the need to fill the vacancy created by the exit of the corporation’s immediate past board chairman.

The request was conveyed in a letter addressed to Senate President Godswill Akpabio and read on the floor of the Red Chamber during Wednesday’s plenary.

In the letter, President Tinubu said the nomination was made in accordance with the provisions of Section 10(1)(a) of the Asset Management Corporation of Nigeria (Establishment) Act, 2019, as amended.

“I am pleased to present for confirmation by the Senate the appointment of Mr Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON)”, the president wrote.

Tinubu explained that the appointment became necessary following the exit of the corporation’s immediate past board chairman, urging lawmakers to give the nomination expeditious consideration.

“The Senate is invited to kindly note that the appointment of Mr Lamido Yuguda is necessitated by the exit of the immediate past chairman of the board of AMCON”, the letter added.

Meanwhile, Akpabio has referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions for screening and further legislative action.

The committee was mandated to scrutinise the nominee’s credentials and submit its report to the Senate within two weeks for consideration and possible confirmation.

Yuguda, a former Director-General of the Securities and Exchange Commission, is expected to bring extensive experience in financial regulation and capital market administration to the leadership of AMCON if confirmed.