SEDC Congratulates Oramah On Tenure Completion At Afreximbank, GCON Award

The Board and Management of the South East Development Commission (SEDC) have congratulated Professor Benedict Oramah on his remarkable tenure as President and Chairman of Afreximbank and the conferment of the national honour of Grand Commander of the Order of the Niger (GCON) by President Bola Ahmed Tinubu.

In a press statement signed by Dr. Sylvester Okonkwo, Executive Director, Corporate Services, on behalf of the South East Development Commission (SEDC), he said, “Prof. Oramah’s visionary leadership has not only transformed Afreximbank into a continental financial powerhouse whose assets have grown exponentially from $5 billion when he took over as the President of the bank ten years ago to over $37 billion but has also mobilised over $150 billion to support trade, development, and industrialisation across Africa over the last decade.”

The statement reads, “Through landmark projects like the African Medical Centre of Excellence, Abuja; the African Quality Assurance Centre; the Dangote Refinery; financial support to Heirs Oil & Gas Nigeria Ltd; and others, your work has left an indelible mark on Nigeria and throughout the African continent.”

The Commission, while commending President Tinubu for honouring Prof. Oramah, also congratulated Nigeria for a successful hosting of the 32nd Afreximbank Annual Meetings (AAM2025).

It is especially fitting that the 32nd Afreximbank Annual Meetings (AAM2025), hosted in Abuja, Nigeria, brought together over 6,000 global leaders, policymakers, business captains, and experts to shape the future of African trade and development under the inspiring theme: “Building the Future on Decades of Resilience.” This gathering powerfully symbolised the legacy of resilience, innovation, and continental integration Professor Oramah has championed over the years.

Of particular note was his pivotal role in spearheading transformative initiatives such as the Pan-African Payment and Settlement System (PAPSS) and the promotion of intra-African trade under AfCFTA, both of which have redefined Africa’s economic landscape and promise to unlock new frontiers of prosperity.

The SEDC noted that the South East region, and indeed the whole of Nigeria and Africa, look forward to the e-commerce explosion on the back of the continental payment gateway, PAPSS.

This great innovation in the African payment ecosystem between African countries will, no doubt, drive monumental financial inclusion and liberate African countries’ national economies from years of foreign currency dependency in inter-African trade payment and settlement.

Dr. Okonkwo noted further that at this historic moment of Professor Oramah’s exit from continental and global service to humanity, it is worthy to note that SEDC led by our distinguished Chairman of the Board, Hon. Chief Emeka Wogu, CON, and MD/CEO Mark Okoye II, whom you have collaborated closely with in the past proudly applaud your joining the annals of great sons and daughters of South East Nigeria, who have become true global citizens. A league that includes the illustrious Ngozi Okonjo-Iweala, Philip Emeagwali, the accomplished Arunma Oteh, and a host of others whose excellent services and expertise have distinguished and made them iconic figures of global admiration.

Prof., your legacy will continue to inspire generations, and African leaders and regional development stakeholders will, for long, work to advance your vision of a resilient, economically integrated, and globally influential Africa.

“Once again, congratulations on this richly deserved national honour and on your extraordinary contributions to Africa’s economic renaissance and growth,” the statement added.