President Bola Tinubu has asked the Senate to confirm the appointment of Lamido Yuguda Abubakar as Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).

The request was contained in a letter read by Senate President Godswill Akpabio during Tuesday's plenary. In the correspondence, the President stated that the nomination was made in line with Section 10(1)(a) of the Asset Management Corporation of Nigeria Establishment Act, 2019, as amended.

President Tinubu explained that the appointment became necessary following the exit of the immediate past chairman of the corporation's board, and expressed confidence that the Senate would give the nomination prompt consideration and approval.

Following the presentation of the letter, Senate President Akpabio referred the nomination to the Senate Committee on Banking, Insurance and Other Financial Institutions for screening and further legislative action, directing the committee to submit its report to the Senate within two weeks.