The Federal Government of Nigeria has presided over a landmark leadership transition at the African Export–Import Bank (Afreximbank), underscoring Africa’s growing financial independence and regional cooperation.
At a ceremony held in Cairo, Egypt, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, chaired the investiture of Dr. George Elombi as the fourth President and Chairman of the Board of Directors of Afreximbank.
The event marked the formal handover from the outgoing President, Professor Benedict Oramah, whose decade-long tenure transformed the institution into a powerhouse of African trade finance and economic integration. Under his leadership, Afreximbank launched key initiatives such as the Pan-African Payment and Settlement System (PAPSS) and the AfCFTA Adjustment Fund—projects that have expanded access to capital, improved trade settlement, and enhanced opportunities for Nigerian and African businesses alike.
Mr. Edun hailed the transition as “a reaffirmation of Africa’s collective capacity to finance its development and chart its own economic destiny.” He further noted that Dr. Elombi’s appointment—having played a vital role in shaping the bank’s governance and capital expansion—guarantees continuity and stability in Afreximbank’s strategic direction.
For Nigeria, the transition consolidates its position within continental financial frameworks, strengthens support for domestic reforms, and opens new export and investment opportunities across Africa.
