The Senate Committee on Banking, Insurance and Other Financial Institutions has cleared the nomination of Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).
During Tuesday’s screening, the committee invoked the Senate’s tradition of allowing previously screened nominees to “take a bow and go,” citing Yuguda’s earlier confirmations for other national appointments, including his role as Deputy Governor of the Central Bank of Nigeria (CBN).
Chairman of the committee, Senator Mukhail Adetokunbo Abiru, described Yuguda as highly qualified for the position, noting that he had been nominated by President Bola Tinubu for three different national responsibilities.
The committee also directed AMCON’s management to brief lawmakers on the corporation’s operations, financial position, and level of preparedness ahead of the expiration of its statutory mandate in 2030.
Yuguda’s nomination was presented by the Special Adviser to the President on National Assembly Matters (Senate), Senator Basheer Lado, who said the appointment complied with the provisions of the AMCON Establishment Act.
Lawmakers expressed confidence in Yuguda’s ability to provide effective leadership for the corporation as it continues efforts to recover non-performing assets and strengthen Nigeria’s financial system.
