Senate Confirms Lamido Yuguda As AMCON Board Chairman

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

The confirmation followed the presentation and adoption of the report of the Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Adetokunbo Abiru.

Senator Abiru said the committee was satisfied with Yuguda’s qualifications, competence, and experience after screening him, recommending his confirmation as a part-time chairman of the AMCON Board.

The Senate approved the recommendation through a voice vote, with the President of the Senate declaring Yuguda duly confirmed.

President Bola Tinubu had forwarded Yuguda’s nomination to the Senate on July 9, 2026, in line with provisions of the AMCON Act.

Yuguda brings decades of experience in banking, financial regulation, and public sector administration to the role.

He previously served as Director-General of the Securities and Exchange Commission from 2020 to 2024 and was also a Deputy Governor of the Central Bank of Nigeria.

His appointment comes as AMCON continues efforts to recover outstanding debts, manage legacy assets, and strengthen Nigeria’s financial system.