Senate Confirms Lamido Yuguda as AMCON Chairman

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

This confirmation followed President Bola Tinubu’s nomination, which was presented and adopted by the Senate Committee on Banking, Insurance and Other Financial Institutions, chaired by Senator Adetokunbo Abiru. The committee had previously reviewed Yuguda's qualifications during two prior appearances, first for the Monetary Policy Committee and then for Deputy Governor of the Central Bank of Nigeria (CBN).

The Senate unanimously approved his confirmation through a voice vote. The Senate President praised the committee for their thorough screening process and expressed confidence in Yuguda's ability to contribute to Nigeria's economic development.

President Tinubu nominated Yuguda on July 9, 2026. With over four decades of experience in banking and finance, including roles at the CBN and the IMF, Yuguda is expected to lead AMCON, which was established in 2010 to stabilize the banking sector.