AFDB approves $14.12mn to support Nigeria’s ATI membership

The African Development Bank (AfDP) Group through its Trade Finance operations, on Tuesday announced the approval of a US$14.12 million facility to support Nigeria’s membership in the African TradeInsurance Agency (ATI). The funding support is critical and mandatory step to enable ATI commence its operations in Nigeria, as the country joins 14 other African countries […]

UNIDO, FG to sign $60mn Nigeria’s new Country Programme

The Director General of the United Nations Industrial Development Organisation (UNIDO), Li Yong, arrived Nigeria today on a two-day official visit. Li Yong, who is visiting the country for the second time since his assumption of office in year 2013, will use the occasion of the visit to sign the $60 million UNIDO Nigeria new […]

Afrexim Bank moves to bridge Africa’s trade financing gap

The African Export-Import (Afrexim) Bank has introduced a trade facilitation programme aimed at reducing trade financing gap in Africa. The bank also charged Nigerian banks to explore its credit lines as option for managing capital adequacy and liquidity issues in trade financing deals. Afrexim Bank’s Executive Vice President, Business Development and Corporate Banking, Mr Amr […]

Access Bank reaffirms support for African creativity

In line with Access Bank‘s commitment to promoting the best of Africa using vehicles like arts, music, sports and fashion, it has partnered with Art X in Lagos to bring the third edition of West Africa’s first international art fair to life. The bank has been a partner of Art X Lagos since its debut […]

ARF commends AfDB on ADRiFi’s approval

The African Risk Capacity (ARC) has commended the African Development Bank (AfDB) for its approval of the Africa Disaster Risk Financing Programme (ADRiFi) Programme. Giving the commendation shortly after the AfDB announced the funding arrangement for the programme, the Director-General of ARC, Mohammed Beavogui, said that “this is one of those moments when one feels […]

LCCI rallies stakeholders on ECOWAS integration, traders’ crisis

In furtherance of its commitment to strengthening commercial activities in the ECOWAS sub-region, the Lagos Chamber of Commerce and Industry (LCCI), will on Wednesday hold a roundtable on ECOWAS integration and challenges faced by Nigerian traders in Ghana. A statement by the organized private sector group on the event indicated that it was being organized […]

Kim confirms African leaders’ plea for World Bank’s support

With just few days to the kick-off of the Africa Investment Forum 2018 (AIF) in Johannesburg, South Africa, African leaders have reiterated the need for the World Bank to do more to eradicate energy poverty across the continent. The President of the World Bank, Jim Yong Kim, had during his remarks at the IMF/World Bank […]

Again, WEF ranks Nigeria among 32 most corrupt nations

The World Economic Forum annual corruption index report published on Tuesday as part of its “Global Competitiveness Report”, ranked Nigeria 15th with Republic of Guinea behind Uganda, Nicaragua and Cameroon. The WEF report, using a methodology linked to Transparency International’s Corruption Perception Index, covered 140 countries’ level of corruption within their societies on a scale of […]

IMF: Nigeria among 8 African countries in debt distress

The International Monetary Fund (IMF) Thursday, listed Nigeria among eight African countries on its debt distressed category following the failure of their fiscal consolidation to positively impact the citizens. Abebe Aemro Selassie, Director of the IMF’s African Department, who gave the hint at a briefing he jointly held with Nigeria’s Budget and Planning Minister, Senator […]

AFC acquires $300m facility from China EXIM

Africa Finance Corporation (AFC) on Thursday announced the successful acquisition of a $200 million 5-year loan and $100 million 5-year stand-by facility for general corporate purpose from the Export-Import Bank of China (CEXIM) According to a news report on the deal, the facility from CEXIM marks AFC’s inaugural financing facility from the People’s Republic of […]