The Senate has officially confirmed the appointment of Professor Melvin D. Ayogu as a member of the Central Bank of Nigeria (CBN) Board of Directors.
The confirmation took place on Tuesday after the Senate Committee on Banking, Insurance, and Other Financial Institutions presented their report, led by Senator Adetokunbo Abiru.
Senator Osita Izunaso, who presented the report on behalf of Abiru, stated, “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.”
Professor Ayogu, a renowned Professor of Economics at the University of Cape Town, South Africa, hails from Enugu State. His appointment was submitted by President Bola Tinubu for confirmation, in compliance with the Central Bank of Nigeria Act of 2007.
President Tinubu emphasized in his letter to the Senate, “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.”