Tinubu seeks Senate confirmation of Lamido Yuguda as AMCON Board Chairman

President Bola Tinubu has transmitted to the Senate the nomination of Lamido Yuguda for confirmation as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).

The request was conveyed in a letter addressed to the Senate and read during Wednesday’s plenary by Godswill Akpabio, Senate President.

In the correspondence, Tinubu said the nomination was made in line 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 Abubakar as chairman of the board of the Asset Management Corporation of Nigeria (AMCON),” the letter read.

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The President explained that the appointment became necessary following the departure of the immediate past chairman of the corporation.

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

“While it is my hope that the Senate will consider and confirm the nominee expeditiously, please accept, distinguished Senate President, the assurances of my highest consideration.”

After the letter was read, Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions led by Tokunbo Abiru, for screening and further legislative consideration.

The committee is expected to report back to the Senate within two weeks.