President Muhammadu Buhari has replaced Muiz Banire as the head of Asset Management Corporation of Nigeria (AMCON).

This president made the change in a letter to the Nigerian Senate on Tuesday.

In the letter, Buhari named Edward Adamu as the new chairman for the country’s bad debt management office.

He asked the Senate to confirm Adamu’s nomination.

The presidency is yet to give a reason for Banire’s removal.

Mr Banire, 53, was appointed head of AMCON in December 2018.

The development comes a day after the president replaced Tunde Fowler as the head of Federal Inland Revenue Service, despite an appeal from Fowler to be retained for a second term.

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