Nigeria’s 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), in a ceremony held in Cairo, Egypt.
As Chairperson of the Afreximbank General Meeting, Edun commended outgoing President Professor Benedict Oramah for his decade-long tenure, describing his leadership as transformative in strengthening the Bank’s balance sheet and deepening Africa’s financial resilience.
According to a statement by the Ministry of Finance, the handover marked a historic milestone for Africa’s financial landscape, reaffirming Afreximbank’s central role in promoting trade integration, industrialisation, and shared prosperity across the continent.
The Ministry noted that initiatives such as the Pan-African Payment and Settlement System (PAPSS) and the AfCFTA Adjustment Fund have expanded opportunities for Nigerian businesses by easing regional trade, currency settlement, and access to growth capital.
Edun described the leadership transition as “a reaffirmation of Africa’s collective capacity to finance its own development and define its economic future.”
Dr. Elombi, a long-serving executive instrumental in shaping Afreximbank’s governance and capital expansion, is expected to consolidate the Bank’s mission to empower Africa’s private sector.
“For Nigeria, this transition strengthens access to continental financing mechanisms, supports ongoing reforms, and enhances export opportunities for domestic enterprises across key sectors,” the Ministry stated.
