The Senate on Tuesday confirmed the appointment of Professor Melvin D. Ayogu as a member of the Central Bank of Nigeria (CBN) Board of Directors. Ayogu, a native of Enugu State, is a renowned Professor of Economics at the University of Cape Town, South Africa.
His appointment received Senate approval following a review by the Senate Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East).
Presenting the committee’s report on behalf of Abiru, who was away for Umrah, Senator Osita Izunaso (APC, Imo West) confirmed that all necessary evaluations had been conducted. 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 nomination aligns with Section 6 of the CBN Act, 2007, which defines the structure and composition of the bank’s Board of Directors.
Source : https://punchng.com/
