Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON), Lamido Yuguda
Senate on Wednesday confirmed the nomination of Lamido Yuguda as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON), following the adoption of a report by its Committee on Banking, Insurance and Other Financial Institutions.
The report, presented during plenary by the committee’s Chairman, Senator Adetokunbo Abiru (Lagos East), recommended Yuguda’s confirmation after reviewing his credentials.
President Bola Tinubu had forwarded Yuguda’s nomination to the Senate on July 9, 2026, in line with the provisions of the AMCON Act.
With the confirmation, Yuguda takes over the leadership of AMCON’s board at a time the corporation is intensifying efforts to recover outstanding debts, resolve legacy assets and strengthen Nigeria’s financial system.
Established in 2010 in the aftermath of the 2008–2009 global financial crisis, AMCON was created to stabilise Nigeria’s banking sector by acquiring non-performing loans from deposit money banks, preventing the collapse of distressed financial institutions and restoring confidence in the financial system.
Yuguda is an economist and financial regulator with more than 40 years of experience in banking, financial markets and public sector management.
He began his career at the Central Bank of Nigeria (CBN) in 1984 as a Senior Supervisor in the Foreign Operations Department before serving as an economist in the International Monetary Fund’s Africa Department between 1997 and 2001. He later returned to the CBN, where he rose to become Director of the Reserve Management Department before retiring in 2016.
He also served as Director-General of the Securities and Exchange Commission (SEC) from 2020 to 2024, where he oversaw reforms aimed at boosting investor confidence, improving market transparency and deepening Nigeria’s capital market.
Yuguda is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Chartered Financial Analyst (CFA).
Earlier this year, President Tinubu nominated him for appointment as Deputy Governor of the Central Bank of Nigeria, and the Senate confirmed the nomination in April, citing his extensive experience in financial regulation and economic management.
