Nigeria Signs MoU with African Risk Capacity The Government of the Federal Republic of Nigeria has  in Busan, South Korea, on the sidelines of the ongoing AfDB Annual Meetings, signed a Memorandum of Understanding (MoU) with the African Risk Capacity (ARC) to serve as a...

Emir Sanusi Outlines Path to Africa’s Development Africa’s development agenda must focus on the socio-cultural and commercial interests of Africans and the upliftment of Africa’s trade and economic ecosystem, said Muhammadu Sanusi II, the Emir of Kano and a former Governor of Nigeria’s Central Bank,...

AfDB Approves $100m To Expand Fertilizer Production   The African Development Bank (AfDB) has approved $100 million senior loan to Nigerian firm, Indorama Eleme Fertilizer & Chemicals Limited, to support the company’s plans to double its fertilizer production from 1.4 million tons of urea to 2.8...

Africa loses $50bn to Illicit financial flow Annually– AfDB The African Development Bank (AfDB) says that Africa loses about $50 billion annually to illicit financial flow in the continent. Mr Ebrima Faal, Director, AfDB, Nigerian office disclosed this at workshop on the Role of Parliament in...

AfDB, EIB Plan $70m Investment in DBN The European Investment Bank (EIB) and the African Development Bank(AfDB) have agreed to support the creation of the new Development Bank of Nigeria(DBN) to strengthen lending for business and agriculture investment in the country. The European Investment Bank...

AfDB Approves $50m to Address Africa’s Trade Finance The Board of Directors, African Development Bank (AfDB) has approved $50 million (Fifty Million Dollars) unfunded Risk Participation Agreement for Commerzbank to address Africa’s trade finance market. The bank  made the announcement  in a statement signed by its...