Nigeria: ....Confirms Yuguda's Appointment As Amcon Board Chairman

What the report says

AllAfrica, carrying a This Day report from Abuja, reported that Nigeria’s Senate confirmed Lamido Yuguda as chairman of the board of the Asset Management Corporation of Nigeria (AMCON) on Thursday. The approval followed the upper chamber’s consideration of a report from its Committee on Banking, Insurance and Other Financial Institutions, which had screened him for the role. Senator Mukhail Adetokunbo Abiru of Lagos East, who chairs the committee, presented the report during plenary.

According to the report, President Bola Tinubu sent Yuguda’s nomination to the Senate on July 9, 2026, in line with the AMCON Act. The confirmation places Yuguda at the head of the board of an institution created in 2010 after the 2008-2009 financial crisis to help stabilise Nigeria’s banking system, including through the purchase and management of non-performing loans.

The This Day report described Yuguda as an economist and financial regulator with more than 40 years of experience. It said he joined the Central Bank of Nigeria in 1984, worked at the International Monetary Fund from 1997 to 2001, later became CBN’s Director of Reserve Management, and retired from the bank in 2016. He also served as Director-General of the Securities and Exchange Commission from 2020 to 2024. The report added that he is a Fellow of ICAN and a CFA charter-holder.

His appointment comes as AMCON continues work on debt recovery and legacy assets tied to past banking-sector interventions. This Day also reported that the Senate adjourned plenary until September 15, 2026, for its annual vacation of about six weeks.