The Senate has confirmed the appointment of Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON), following his nomination by President Bola Ahmed Tinubu.
The confirmation came after the Senate adopted the report of its Committee on Banking, Insurance and Other Financial Institutions, presented by the committee’s chairman, Senator Adetokunbo Abiru, during plenary.
President Tinubu submitted Yuguda’s nomination to the Senate on July 9, 2026, in line with the provisions of the AMCON Act.
Yuguda now assumes leadership of AMCON, the financial institution established in 2010 to stabilise Nigeria’s banking sector by acquiring non-performing loans and preserving confidence in the financial system following the 2008–2009 banking crisis.
Over the years, AMCON has played a critical role in restructuring distressed assets, recovering outstanding debts, preventing the collapse of troubled financial institutions, and strengthening financial stability.
A seasoned economist and financial regulator, Yuguda brings more than 40 years of experience in banking, financial markets, and public sector management. He began his career at the Central Bank of Nigeria (CBN) in 1984, served as an economist at the International Monetary Fund (IMF), later became Director of the CBN’s Reserve Management Department, and subsequently served as Director-General of the Securities and Exchange Commission (SEC) between 2020 and 2024.
He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA).
His appointment comes as AMCON intensifies efforts to recover outstanding debts, resolve legacy assets, and strengthen Nigeria’s financial system through improved corporate governance and strategic oversight.
