The Senate formally approved Professor Melvin D. Ayogu’s appointment to the Central Bank of Nigeria Board of Directors, On Tuesday.
An Enugu State native, Ayogu teaches economics at the University of Cape Town in South Africa.
The Senate Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East), heard the presentation and then approved the nomination.
On behalf of Abiru, who has left the nation for Umrah, Senator Osita Izunaso (APC, Imo West) delivered the report.
Izunaso said, “The Senate has received and considered the report of the Committee on Banking, Insurance & Other Financial Institutions regarding the confirmation of the nomination of Prof. Melvin Damian Ayogu for appointment as a member of the Board of Directors of the Central Bank of Nigeria.”
The confirmation comes one week after President Bola Tinubu submitted a request to the Senate for Ayogu’s confirmation as a member of the board of the apex bank.
In a letter read by Senate President Godswill Akpabio during plenary, President Tinubu stated, “In compliance with Section 10(1) of the Central Bank of Nigeria (Establishment) Act, 2007, I am pleased to present, for confirmation by the Senate, the appointment of Prof. Melvin D. Ayogu as a member of the Board of Directors of the Central Bank of Nigeria. His Curriculum Vitae is attached for your review.”
The President further emphasised that the nomination was in line with Section 6 of the CBN Act, 2007, which outlines the composition of the CBN Board of Directors.
