Tinubu seeks Senate confirmation of AMCON chair nominee

President Bola Tinubu has formally asked the Senate to confirm the appointment of Lamido Yuguda Abubakar as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON). The request was conveyed in a letter read by Senate President Godswill Akpabio during a plenary session.

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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).

Tinubu stated that the nomination aligns with Section 10(1)(a) of the Asset Management Corporation of Nigeria (Establishment) Act, 2019. The appointment is necessitated by the departure of the immediate past chairman of the corporation's board. The President expressed his hope that the Senate would consider and confirm the nominee expeditiously.

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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.

Following the presentation of the letter, Senate President Akpabio referred the nomination to the Senate Committee on Banking, Insurance, and Other Financial Institutions. The committee is tasked with screening Mr. Abubakar and submitting its report to the Senate within two weeks. AMCON, established in 2010, plays a crucial role in stabilizing Nigeria's financial system by acquiring non-performing loans and recovering debts.

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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.