Nation
‘Nigeria, Biggest Beneficiary Of Afreximbank’s Loans’
Nigeria is the biggest beneficiary of Afrexiimexbank’s loans and projects, the bank’s President, Mr Jean-Louis Ekra, has said.
Ekra disclosed this at a press conference in Cairo on Sunday as part of activities marking the inauguration of the head office of the bank.
He said that as a multilateral finance institution, the bank had never discriminated against any African country in spite of having its head office in Cairo.
The bank boss also said that 37 Africa governments had shares in Afreximbank, explaining that projects were always financed based on merit.
Ekra listed some projects which the bank financed in Nigeria to include those in power sector, oil and gas as well as projects involved the development of local contents.
He said that a Nigerian construction firm designed the 14 million dollars head office of the bank in Cairo.
Ekra said that the bank recently launched a 500 million dollar Egypt Africa Trade Promotion Programme (EATPP) to leverage economic strength of the country.
He said that many private sector operators in Egypt had shown interest in the fund and promised that the fund would be disbursed through a local commercial bank.
Ekra said that the bank had intended to increase its paid up share capital by 2016, but this had even been achieved through positive response from shareholders
The Tide source reports that Afreximbank is a Pan African finance institution designed to accelerate growth in Africa through trade finance.
It was established in 1993.
The Chairman of Malumfashi Local Government Council of Katsina State, Maharazu Dayi, has been impeached.
Maharazu Dayi was impeached yesterday by 11 out of 12 councillors, barely two days before the local government elections in the State.
The councillors reportedly took action following allegations of misconduct and poor governance against the chairman after a dispute over the distribution of the council’s Paris Club funds.
The development has sent shock waves across the local government area, especially as the impeached chairman is among those who failed to secure the ticket of the All Progressives Congress (APC) to contest in the forthcoming election.
The Rumuwoji Ultra Modern Market Traders Association, Mile 1, Port Harcourt, has urged the state government to utilise the available spaces within the area to build phase 3 of the Rumuwoji Market in order to solve the ever increasing needs of traders.
The association, which said this at a media briefing in Port Harcourt, also described as a welcomed development the decision by the state Governor to open the phase 2 of the market for business.
According to the association, “We consider it as an answer to the various cries of the people, because he is a man on a mission who is out to place the interest of Rivers people first. It is a dream come true for the first time for the market to be dully allocated and open for business”
Chairman of the association, Hon Godspower Wobo, who briefed the press shortly after a meeting of the association in Port Harcourt, also urged the public to disregard the activities of some persons whose stock in trade is to cause disaffection in the market.
He said the attention of the association was drawn to the activities of some strange fellows who went about misforming the people about situation in the market, stressing that apart from his association, no other group exists in the market except subdiary unions.
Wobo also tasked the reallocation committee to tread with caution so as to avoid being deceived by any group.
According to him, time has come for the state government to engage in robust discussion with aggrieved shop owners who went to court and those who paid monies to the state coffers and issued with allocation certificates for the overall interest of peace.
He also advised the public to deal directly with his association, stressing that the meeting was to review activities for the last year as well as unveil their new Constitution.
Also speaking, former Chairman of the association, Deacon Kenneth Eze urged the Rivers State Governor, Sir Siminalayi Fubara to open the phase 2 of the market, as it is long overdue.
Eze who is the Chairman of the Board of Trustees of the association also urged the public to do business with only the Rumuwoji Ultra Modern Market Traders Association as it is the only union recognised by the traders.
The President of the African Development Bank (AfDB), Akinwunmi Adesina, has debunked reports linking him with the race for Nigeria’s presidency in 2027.
Reacting to the report on his X handle yesterday, following a recent interview with Arise TV, the AfDB boss said his quotes were misrepresented and misinterpreted in several Nigerian media reports.
However, the AfDB president denied the media reports, stating that he never said that he wanted to contest for President.
“A segment of my recent interview on @Arise TV has been both misinterpreted and misrepresented in several Nigerian media outlets. What I said was, “I will be available to serve in any capacity, globally, in Africa, anywhere, including my own country.”
“A listen to the substantive and robust interview, which is available online, will show this to be the case. For clarity and for the record, I did not say that I am running for the office of President of Nigeria,” Adesina said.