The Nigerian Senate has confirmed the appointment of Professor Melvin D. Ayogu as a member of the Board of Directors of the Central Bank of Nigeria (CBN).
The approval followed the presentation and consideration of a report by the Senate Committee on Banking, Insurance & Other Financial Institutions, led by Senator Adetokunbo Abiru (APC, Lagos East).
Presenting the report, Senator Osita Izunaso (APC, Imo West) stated:
“The Senate receives and considers the report on the confirmation of the nomination of Prof. Melvin Damian Ayogu for appointment as a member of the Board of Directors, Central Bank of Nigeria (CBN).”
Presidential Nomination
President Bola Tinubu had earlier sent a request to the Senate, urging them to confirm Ayogu’s appointment. The letter, read by Senate President Godswill Akpabio during plenary, emphasized that the appointment aligns with the provisions of the CBN (Establishment) Act, 2007.
“This nominee is to make up the number of the Board of Directors as provided by Section 6 of the CBN Act, 2007,” Tinubu stated.
With the confirmation, Ayogu is set to join the CBN Board, where he is expected to contribute to key financial and economic decisions impacting Nigeria’s monetary policy.
