Economy
Afreximbank: We’ve Disbursed $50bn Into Nigeria In Last Decade
Afreximbank: We’ve Disbursed $50bn Into Nigeria In Last Decade
Afreximbank: We’ve disbursed $50bn into Nigeria in last decade. He said the sectors included energy, infrastructural, pix: manufacturing, healthcare, transport and financial services.
The African Export-Import Bank (Afreximbank) says it has disbursed 50 billion dollars into various sectors of Nigeria in the last 10 years.
Benedict Oramah disclosed this at the commissioning of the Afreximbank African Trade Centre (AATC) in Abuja on Thursday. Mr Oramah said the sectors included energy, infrastructural, manufacturing, healthcare, transport and financial services.
He added that in the last 10 years, the bank’s support to the Nigerian financial services industry amounted to 19 billion dollars. “This has helped to deepen and expand the sector and elevated their impact on the local economy.”
According to Mr Oramah, the bank is set to commission a 750 million dollar 500-bed African Medical Centre of Excellence (AMCE) in Abuja in June.
He said the 500-bed medical centre was a quaternary medical facility built to avail top-class care to Africans in the vital areas of oncology, cardiology, and haematology.
Mr Oramah said other interventions by the bank in Nigeria included the operationalisation of the African Quality Assurance Centre (AQAC) in Ogun State.
He said the centre was designed to ease quality infrastructure constraints of exporting agricultural and value-added goods into regional and international markets.
Mr Oramah said similar projects were under development in the states of Imo and Kaduna.
He said in 2024, Nigeria was selected to host the Africa Energy Bank, which was established by Afreximbank and the African Petroleum Producer’s Organisation (APPO).
Mr Oramah explained that the bank was also expected to address the financing constraints in the oil, gas and other energy sectors.
“The Energy Bank will position Nigeria as the continental hub for mobilising energy financing.”
He added that in Ogun, a special economic zone was being developed by Afreximbank’s investee company, Arise Integrated Industrial Platform.
“This over 300 million dollar project is being developed to promote export manufacturing and similar projects are expected in Cross Rivers, Imo, Enugu and Kano States.”
Mr Oramah said the bank’s financing support to Nigeria had also helped to boost the oil refining capacity to about 1.2 million barrels per day.
He added that it also helped to boost urea fertiliser production to 7.5 million tonnes per annum, up from under four million tonnes in 2019.
“We expect urea capacity to rise to about 11 million tonnes by 2027 when Dangote Petrochemical company opens the new lines under development.
“These are remarkable and are contributing significantly to Nigeria’s non-oil export revenues.”
He said Afreximbank was also investing in growing the country’s creative sector, through credit lines support, capacity-building initiatives and market access opportunities.
Mr Oramah said recently the bank opened a dedicated 200 million facility to support the sector under an ongoing partnership with the Federal Ministry of Culture and Creative Industry.
He said the support had helped Nigeria to boost the export of its creative content to the rest of Africa and the world while boosting youth employment.

Afreximbank
“These projects and interventions add to the significant investments committed by Afreximbank since its inception some 32 years ago.
“ I am most pleased to put on record that the relationship between the Bank and the Federal Government of Nigeria has been truly mutually beneficial and most cordial.
“Over the last three decades, successive governments have accorded unflinching support to Afreximbank by responding most positively to capital calls.
“Also creating a congenial environment for its smooth operations while providing the bank significant domestic policy support that helped to execute many of the development programmes in Nigeria.”
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
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