Nigeria Presides Over Historic Afreximbank Leadership Handover In Cairo

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has presided over the investiture of Dr. George Elombi as the fourth President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank), at a ceremony held in Cairo, Egypt.

As Chairperson of the Afreximbank General Meeting, Edun commended the outgoing President, Professor Benedict Oramah, for his decade of transformative leadership that strengthened the Bank’s balance sheet and deepened Africa’s financial resilience.

A statement by the Ministry of Finance on X on Sunday noted that the leadership handover marked a defining moment for the continent’s financial landscape, and reinforced Afreximbank’s central role in advancing Africa’s trade integration, industrialisation, and shared prosperity.

Afreximbank’s initiatives, such as the Pan-African Payment and Settlement System (PAPSS) and the AfCFTA Adjustment Fund, have significantly expanded opportunities for Nigerian businesses, enabling smoother regional trade, easier currency settlement, and broader access to growth capital.

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In his remarks, the Minister described the leadership transition as “a reaffirmation of Africa’s collective capacity to finance its development and chart its own economic destiny.”

The appointment of Dr. Elombi, a long-serving executive who has been instrumental in shaping Afreximbank’s governance and capital expansion, ensures continuity of the Bank’s mission to empower the African private sector.

“For Nigeria, this transition strengthens access to continental financing mechanisms, supports the government’s reform agenda, and unlocks greater export opportunities for domestic enterprises across key sectors,” the Ministry said.