Tinubu Appoints Yuguda As AMCON Board Chairman

According to Ireporter Online, the President’s request was conveyed in a letter read on the floor of the Senate by Senate President Godswill Akpabio during plenary on Wednesday.

In the letter, Tinubu stated that the nomination was made in accordance with Section 10(1)(a) of the Asset Management Corporation of Nigeria (Establishment) Act, 2019, as amended.

The President expressed confidence in Yuguda’s appointment and formally requested the Senate’s approval for him to assume leadership of the AMCON board.

Tinubu explained that the nomination followed the departure of the immediate past chairman of the corporation’s board, creating the need for a new appointment.

Following the presentation of the letter, Senate President Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions for review.

The committee has been mandated to conduct the screening of the nominee and submit its report to the Senate within two weeks.

AMCON, established in 2010, plays a key role in supporting Nigeria’s financial sector by acquiring non-performing loans from banks and working toward the recovery of outstanding debts. The appointment of members of its governing board requires confirmation by the Senate.