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The Senate has confirmed the nomination of Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).
Along with the confirmation came the adoption of the report of the Senate Committee on Banking, Insurance and Other Financial Institutions during plenary on Thursday.
The committee’s chairman, Senator Adetokunbo Abiru from Lagos East, presented the report.
President Bola Tinubu had forwarded Yuguda’s nomination to the Senate on July 9, in line with the provisions of the AMCON Act.
With the Senate’s approval, Yuguda will lead the AMCON board, the government agency which was established in 2010 to help stabilise Nigeria’s banking sector by acquiring non-performing loans and supporting financial stability.
It’s pertinent to know that Yuguda is an economist and financial regulator with more than 40 years of experience in banking, financial markets and public service.
He joined the Central Bank of Nigeria (CBN) in 1984 and later worked as an economist at the International Monetary Fund (IMF) between 1997 and 2001.
He returned to the CBN, where he served as Director of the Reserve Management Department before retiring in 2016.
The economist also served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, spearheading reforms targeted at improving investor confidence and strengthening Nigeria’s capital market.
Yuguda is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA).
In April 2026, the Senate confirmed him as Deputy Governor of the Central Bank of Nigeria after Tinubu nominated him for the role in March 2026.
Yuguda’s appointment as AMCON Board Chairman comes as the corporation continues efforts to recover outstanding debts, resolve legacy assets and strengthen Nigeria’s financial system.
