Buhari implements new AMCON law, appoints CBN dep gov as chairman

President Muhammadu Buhari has appointed Edward Adamu, deputy governor for corporate services at the Central Bank of Nigeria (CBN), as the chairman of the Asset Management Corporation of Nigeria (AMCON).

This was contained in a letter sent to the senate by the president on Tuesday.

The amended AMCON act that Buhari signed into law in August states that chairman of the corporation must be a CBN deputy governor.

The letter dated December 9 reads: “In accordance with Section 10(1) of the Asset Management Corporation of Nigeria (AMCON) Act, 2010, I hereby present Mr. Edward Lametek Adamu for confirmation as Chairman of the Asset Management Corporation of Nigeria by the Distinguished Senate.

“While hoping that this request will receive the usual expeditious consideration of the Senate, please accept, Distinguished Senate President, the assurances of my highest consideration.”

Edward replaces Muiz Banire as head of the corporation.

Banire was appointed in July 2018.