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.

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.

Lere Olayinka, Senior Special Assistant on Public Communication and New Media to FCT Minister Nyesom Wike, has revealed that Wadata Plaza, the national headquarters of the Peoples Democratic Party (PDP), does not actually belong to the party.

Speaking on Arise Television’s The Morning Show on Tuesday, Olayinka stated that most PDP members are unaware that the property belongs to former Senate Leader, Senator Samaila Mamman.

His comments follow the recent revocation of Wadata Plaza’s land title by Wike’s administration due to non-payment of ground rent. The title of PDP’s unfinished national secretariat in Abuja’s Central Business District was also revoked.

The History Behind the Property
According to Olayinka, PDP leaders attempted to purchase Wadata Plaza in 2005 and sought approval from the then Minister of the FCT, Nasir El-Rufai. However, they failed to meet the payment conditions.

“The PDP was asked to pay N26.9 million as a fee in 2005, but the party’s leadership at the time, led by Vincent Ogbulafor, argued that the amount was too high,” Olayinka explained. “El-Rufai, a PDP member then, insisted that the right procedures be followed—just as Wike is doing now.”

Political Reactions
PDP leaders have strongly condemned the revocation of their property titles, accusing President Bola Tinubu’s administration of attempting to suppress opposition.

However, Olayinka defended the decision, stressing that since PDP never completed the payment, the property remains owned by Senator Samaila Mamman.

With the revocation now finalized, Wadata Plaza is no longer under PDP’s control, further deepening political tensions in the country.