The Nigerian Senate has officially confirmed Professor Melvin D. Ayogu as a member of the Board of Directors of the Central Bank of Nigeria (CBN), solidifying his role in shaping the country’s monetary policies.
The approval came on Tuesday after a thorough review by the Senate Committee on Banking, Insurance & Other Financial Institutions, led by Senator Adetokunbo Abiru (APC, Lagos East).
Presenting the committee’s report, Senator Osita Izunaso (APC, Imo West) stated that the Senate had carefully examined Prof. Ayogu’s qualifications and found him fit for the position.
This confirmation follows President Bola Ahmed Tinubu’s nomination request, which was read by Senate President Godswill Akpabio during plenary. Citing the CBN Act of 2007, Tinubu emphasized that Ayogu’s appointment would help complete the Board of Directors and strengthen the apex bank’s leadership.
With an extensive academic background and expertise in economic and financial matters, Prof. Ayogu’s presence on the CBN board could influence key decisions on Nigeria’s monetary policies, inflation control, and financial stability.
