PHOTO: Mr Lamido Yuguda Abubakar, the new Chairman of the Board of Directors, Asset Management Corporation of Nigeria (AMCON), second right, with the Managing Director/Chief Executive Officer, AMCON, Mr Gbenga Alade, flanked by Head, Inter-Governmental Department, AMCON, Mr Sa’ad Ahmed (right), and Head, Corporate Communications Department, AMCON, Mr Jude Chiedozie Nwauzor (left), after the screening of the new AMCON Board Chairman at the Senate Building, National Assembly Complex, Abuja on Tuesday
The Senate Committee on Banking, Insurance and other Financial Institutions, on Tuesday at the National Assembly Complex, Abuja, screened the former Director-General of the Securities and Exchange Commission (SEC) and current Deputy Governor of the Central Bank of Nigeria (CBN), Mr. Lamido Yuguda, as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).
Recall that President Bola Ahmed Tinubu GCFR had nominated Lamido Yuguda Abubakar to serve as the new Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON). He takes over from Mr Bala Mohammed Bello.
The President, in his letter to the Senate President, Senator Godswill Akpabio, then said the nomination of Lamido Yuguda Abubakar was made in compliance with section 10(1)(a) of the Asset Management Corporation of Nigeria (Establishment) Act 2019, as amended.
“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),” the letter then read.
“The Senate is invited to kindly note that the appointment of Mr. Lamido Yuguda Abubakar is necessitated by the exit of the immediate past chairman of the board of AMCON. 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.”
Upon receipt of Mr President’s nomination, Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions for further legislative action. The committee, chaired by Senator Mukhail Adetokunbo Abiru FCA, was directed to screen the nominee and report back to the Senate within two weeks.
A statement by the Head of Corporate Communications Department, AMCON, Jude Chiedozzie Nwauzor, said the Senate committee on Tuesday in Abuja screened Mr. Lamido Yuguda Abubakar as the new AMCON Chairman as requested by President Bola Ahmed Tinubu, GCFR.
Following his meritorious service to the nation at different levels, both at the SEC and the CBN, and having earlier been screened by the Senate in those capacities, the committee told Mr. Lamido Yuguda Abubakar to take a bow.