President Bola Ahmed Tinubu has urged African countries to adopt African exports and imports bank’s financial system. He said the move will help reduce transaction costs, conserve foreign reserves, and support small businesses across the continent. The president made the call while addressing the 32nd Annual Meeting of Afreximbank in Abuja.

While praising the growth of Afreximbank under the leadership of Professor Benedict Oramah, he says the bank has expanded from $5 billion to over $37 billion and has provided more than $250 billion in trade and development financing. President Tinubu disclosed that, Nigeria has received over $52 billion in support, funding major projects such as the Dangote Refinery, Bucha Refinery, and the African Medical Center of Excellence.

President Tinubu highlighted the Pan-African Payment and Settlement System, which allows African countries to trade in local currencies-adding that adopting the system would reduce dependence on foreign exchange and promote financial independence.
He also announced the launch of the Africa Energy Bank in Abuja, as part of efforts to strengthen regional cooperation and economic growth.


In his address, the president of Afreximbank, Benedict Oramah outlined a vision for the bank, aiming to make it a solid institution among its peers, focusing on financial stability and capital management. He highlighted the importance of innovative capital management initiatives to improve capitalization and ensure first-class governance.Highlight of the event is the award of the Grand Commander of the order of the Nigeria, GCON of the outgoing president of the AFREXIM BANK, Prof. Benedict Oramah.