July 8 (THEWILL) —
President Bola Tinubu has asked the Senate to confirm the appointment of Lamido Yuguda, the current Deputy Governor of the Central Bank of Nigeria (CBN) in charge of Financial System Stability, as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).
The request was conveyed in a letter addressed to Senate President Godswill Akpabio and read on the floor of the Red Chamber during Wednesday’s plenary.
In the letter, President Tinubu said the nomination was made in accordance with Section 10(1)(a) of the Asset Management Corporation of Nigeria (Establishment) Act, 2019 (as amended), to fill the vacancy created by the exit of the corporation’s immediate past board chairman, Dr Bala Mohammed Bello.
“I am pleased to present for confirmation by the Senate the appointment of Mr Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON)”, the president wrote.
Tinubu explained that the appointment became necessary following the departure of the former board chairman and urged the Senate to give the nomination expeditious consideration.
“The Senate is invited to kindly note that the appointment of Mr Lamido Yuguda is necessitated by the exit of the immediate past chairman of the board of AMCON”, the letter added.
Following the presentation, Senate President Godswill Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions for screening and further legislative action.
The committee was directed to scrutinise the nominee’s credentials and submit its report within two weeks for consideration and possible confirmation by the Senate.
THEWILL recalls that President Tinubu had in March 2026, appointed Yuguda as CBN Deputy Governor. Before assuming the role, he built an extensive career spanning the CBN, the International Monetary Fund (IMF) and the Securities and Exchange Commission (SEC).
A seasoned economist, accountant, investment manager and central banker, Yuguda began his career at the CBN in 1984 and rose through the ranks to become Director of the Reserve Management Department before retiring in 2016. Between 1997 and 2001, he served as an economist in the IMF’s Africa Department in Washington, D.C., where he worked on macroeconomic and financial sector programmes for several African countries.
Yuguda later served as Director-General of the Securities and Exchange Commission from 2020 to 2024, leading reforms to strengthen investor confidence, enhance market transparency and deepen Nigeria’s capital market.
A graduate of Accountancy from Ahmadu Bello University, Zaria, he holds a Master’s degree in Money, Banking and Finance from the University of Birmingham, United Kingdom. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA).
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