Senate confirms Yuguda as AMCON Board chairman

By Henry Umoru, Abuja

The Senate on Thursday confirmed the appointment of Lamido Yuguda Abubakar as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).

The confirmation followed the consideration and adoption of the report of the Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East).

Presenting the report, Abiru urged the Senate to consider and approve the nomination of Yuguda for appointment as chairman of the AMCON board.

The development followed a request by President Bola Tinubu seeking the screening and confirmation of Yuguda’s appointment.

The President’s request was contained in a letter read on the floor of the Senate by Senate President, Senator Godswill Akpabio, on July 8.

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

In the letter, the President said the appointment became necessary following the exit of the immediate past chairman of the AMCON board.

He urged the Senate to give the nomination expeditious consideration and confirmation.

Following the presentation of the letter, Akpabio referred the nomination to the Abiru-led committee for legislative consideration and report back to the chamber within two weeks.

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