President Bola Tinubu has nominated Melvin Ayogu for a position on the Central Bank of Nigeria (CBN) board and has requested Senate confirmation for the appointment.
This was disclosed on Wednesday by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, who stated that President Bola Tinubu has written to the Senate, requesting confirmation of Prof. Melvin Ayogu’s appointment to the Central Bank of Nigeria’s (CBN) Board of Directors.
Alongside Ayogu’s nomination, Tinubu also sought Senate approval for Nwakuche Ndidi as Controller-General of the Nigerian Correctional Service. Both requests were conveyed in letters to Senate President Godswill Akpabio and read during Tuesday’s plenary session.
In February 2024, Tinubu had nominated Robert Agbide, Ado Wanga, Murtala Sagaley, Urom Eke, and Olayinka Aliyu to the CBN board. However, on February 29, the Senate confirmed only four nominees after Urom Eke declined the offer, citing a conflict of interest.
Tinubu later nominated Ruby Onwudiwe on March 13 to replace Eke, but reports emerged a day later that her nomination was withdrawn due to her affiliation with the opposition Labour Party.
Meanwhile, the CBN has reiterated its commitment to strengthening regulatory compliance within the banking sector. At a recent Mandatory Compliance and Anti-Money Laundering (AML) Training Workshop in Lagos, the apex bank urged financial institutions to enhance their compliance frameworks to align with global banking standards.
Speaking at the event, Shola Phillips, Special Adviser to the CBN Governor on Compliance, stressed the importance of maintaining strict compliance protocols to ensure Nigerian banks remain integrated within global financial networks. She warned that failure to meet international compliance standards could expose Nigerian banks to increased scrutiny and potential restrictions from global financial institutions.
