Afrexim Bank yesterday, did the groundbreaking ceremony of its African regional office in Abuja. The bank said it got the certificate of occupancy of the land after 12 years from the Nigerian government. Afrexim president, Dr Benedict Oranmah, said it was time for the bank to have a place it can call its own after 25 years of being in existence. Oranmah said Nigeria was the arrowhead that made it possible for the establishment of the bank 25 years ago.

The Afrexim president remarked that the reception of the C-of-O which was handed over to him yesterday by the permanent secretary in the Federal Capital Territory Administration (FCTA), Chinyeaka Christian Oha , marks a new journey of concretising the bank’s bond with the federal government so that it becomes unbreakable. He said the bank would build an iconic business structure at the allocated land near the Federal Ministry of Finance.

He said the place would be transformed into an iconic trade centre with conference rooms, an exhibition centre, and create a vehicle that would boost business operation in Abuja. The title deed was handed over to the bank at the event.
Minister of finance, Mrs Kemi Adeosun, said Nigeria has a total loans share averaging more than 40 per cent of the bank’s aggregate.
“With an equity commitment of $50 million, the country became one of the largest shareholders of the bank which helped to attract the interest of others in the equity participation of the bank,” said Adeosun.
Adeosun said Nigeria continues to support the bank’s capital mobilisation by reinvesting its dividends in the bank’s capital.
“The allocation of this lauded property to Afrexim Bank is quite a logical sequence in nurturing our ambition of forging that enduring partnership. The location of the building beside the Federal Ministry of Finance, is really striking. I can confidently express that it will make for easy, quick and efficient engagements between the bank and the Nigerian government,” she said.