The Senate has approved the appointment of Lamido Yuguda as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).
The confirmation came after lawmakers adopted the report of the Senate Committee on Banking, Insurance and Other Financial Institutions during plenary. The report was presented by the committee’s chairman, Senator Adetokunbo Abiru.
President Bola Tinubu had submitted Yuguda’s nomination to the Senate on July 9, 2026, in line with the provisions of the AMCON Act.
With the confirmation, Yuguda takes over the leadership of AMCON’s board, an institution established in 2010 to strengthen Nigeria’s banking sector by acquiring non-performing loans, supporting distressed financial institutions, and maintaining confidence in the country’s financial system following the global financial crisis.
Since its creation, AMCON has remained instrumental in resolving troubled assets, recovering debts, and contributing to financial sector stability through strategic interventions in the banking industry.
Yuguda brings decades of experience in banking, financial regulation, and economic management to his new position. He joined the Central Bank of Nigeria (CBN) in 1984, serving in several capacities before becoming Director of the Reserve Management Department. Between 1997 and 2001, he also worked as an economist with the International Monetary Fund (IMF).
After retiring from the CBN in 2016, he was appointed Director-General of the Securities and Exchange Commission (SEC), where he served from 2020 to 2024 and led reforms aimed at improving transparency, investor confidence, and the growth of Nigeria’s capital market.
He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and also holds the Chartered Financial Analyst (CFA) designation.
Earlier this year, President Tinubu nominated Yuguda as Deputy Governor of the Central Bank of Nigeria, an appointment that was confirmed by the Senate in April.
His latest appointment comes as AMCON continues efforts to recover outstanding debts, resolve legacy assets, and reinforce the stability and resilience of Nigeria’s financial sector.
