Tinubu seeks Senate confirmation of Lamido Yuguda Abubakar as AMCON Board Chairman

By Taiwo Scholarstica

President Bola Tinubu has formally requested the Senate to confirm the appointment of Lamido Yuguda Abubakar as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).

The request was contained in a letter addressed to the upper chamber and read during Wednesday’s plenary by Senate President Godswill Akpabio.

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

“I am pleased to present for confirmation by the Senate the appointment of Mr. Lamido Yuguda Abubakar as chairman of the board of the Asset Management Corporation of Nigeria (AMCON),” the letter read.

Tinubu explained that the appointment followed the departure of the corporation’s immediate past board chairman, creating the need to fill the vacant position.

“The Senate is invited to kindly note that the appointment of Mr. Lamido Yuguda Abubakar is necessitated by the exit of the immediate past chairman of the board of AMCON,” Tinubu stated.

The President also urged the Senate to give the nomination prompt consideration and approval.

“While it is my hope that the Senate will consider and confirm the nominee expeditiously, please accept, distinguished Senate President, the assurances of my highest consideration,” the President said.

After the letter was presented on the floor of the Senate, Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions for further legislative action.

The committee was directed to conduct the screening of the nominee and submit its report to the Senate within two weeks for consideration.