Nigerian Economist Akinumwi Adesina re-elected President of AfDB Bank

NIGERIA – Nigerian Economist, Dr. Akinwumi A. Adesina has been re-elected to serve a second five-year term as President of the African Development Bank Group by the Board of Governors of the Bank. Adesina, 58, is a distinguished development economist and agricultural development expert with 25 years of international experience and is the first Nigerian to serve as President of the Bank Group. A statement from AfDB revealed that Adesina who was first elected as President of the Bank will begin his new 5-year term on September 1, 2020. AfDB…

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Nigeria increases stake in AfDB as bank presidential elections draws nigh

NIGERIA – The Federal Government of Nigeria has almost doubled its stake at the African Development Bank (AfDB) at a time when the bank is heading into an election to elect its next president. According to a report by Nairametrics Nigeria increased its stake at the African Development Bank to 16% by paying subscriptions it had pledged as part of a general capital before the January 2021 deadline. The development according to a report by Bloomberg makes Nigeria the biggest rights holder with a wider margin, followed by non-regional members…

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