His Excellency, President Bola Ahmed Tinubu, has formally requested the Senate to confirm the appointment of Mr. Lamido Yuguda Abubakar as the new Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).
The President’s official request was contained in an executive letter read on the floor of the Red Chamber by the President of the Senate, Senator Godswill Akpabio, during Wednesday’s plenary session.
President Tinubu noted that the nomination complies strictly with the statutory provisions of Section 10(1)(a) of the Asset Management Corporation of Nigeria (Establishment) Act 2019, as amended. He further clarified that the appointment of Mr. Yuguda was necessitated by the exit of the immediate past chairman of the corporation’s board.
In compliance with the provisions of section 10, subsection 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).
President Tinubu’s Letter Stated.
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.”
Following the reading of the executive communication, Senate President Godswill Akpabio referred the nomination to the Senate Committee on Banking, Insurance, and Other Financial Institutions for immediate legislative action.
The committee has been mandated to conduct the formal screening of Mr. Yuguda and report its findings and recommendations back to the full Senate within two weeks.
