The Senate has officially confirmed the appointment of Professor Melvin Damian Ayogu as a member of the Board of Directors of the Central Bank of Nigeria (CBN). This decision follows the presentation and consideration of the Senate Committee on Banking, Insurance & Other Financial Institutions, chaired by Senator Adetokunbo Abiru.
President Bola Ahmed Tinubu had earlier nominated Professor Ayogu for this prestigious position, emphasizing the importance of his appointment in ensuring the full composition of the CBN Board, as mandated by the CBN Act of 2007. The President's letter, read during plenary by Senate President Godswill Akpabio, highlighted Professor Ayogu's extensive qualifications and experience, which make him a valuable addition to the Board.
The Senate's confirmation of Professor Ayogu underscores its commitment to strengthening the governance and operational capacity of Nigeria's apex financial institution. Professor Ayogu's expertise is expected to contribute significantly to the formulation and implementation of policies that will drive economic growth and stability in the country.