The Senate Committee on Banking, Insurance and Other Financial Institutions has directed the Asset Management Corporation of Nigeria (AMCON) to prepare a comprehensive report on its operations ahead of the corporation’s planned wind-down in 2030.
The committee said the report, detailing AMCON’s achievements and outstanding responsibilities since its establishment, should be presented to the National Assembly.
The committee’s chairman, Adetokunbo Abiru, gave the directive on Tuesday during the screening of Lamido Yuguda, a former deputy governor of the Central Bank of Nigeria (CBN), for confirmation as chairman of AMCON’s board.
Following the screening, the committee cleared Mr Yuguda’s nomination. It will submit its report to the Senate, recommending his confirmation.
The call for a comprehensive report was first raised by Niger East Senator, Sani Musa, who urged Mr Yuguda, if confirmed, to begin compiling a detailed account of AMCON’s activities, achievements and unresolved obligations before the corporation’s expiration.
