Tinubu confers Afreximbank chair with GCON, calls for unity in Africa

President Bola Tinubu has conferred the Grand Commander of the Order of the Niger (GCON) on Benedict Oramah, the outgoing president and board chairman of Afreximbank.

Tinubu announced the honour while delivering a keynote address at the 2025 Afreximbank annual meetings on Friday.

The GCON is Nigeria’s second highest national honour.

The president noted that under Oramah’s “steadfast leadership”, the bank had grown its assets from $5 billion to over $37 billion within short period.

“Its decade of leadership saw the Bank champion Africa’s pandemic response, drive industrialisation, support the African free trade area and the continent’s creative economy,” the president said.

Tinubu asked African leaders to strengthen financial support to Afreximbank in order to scale its transformational impact, and drive jobs and industrial value creation in Africa.

“Let us empower youth, women and entrepreneurs as beneficiaries and architects of a new African century. The world will not wait for Africa. A united and purposeful Africa can define its destiny,” he said.

“In the face of rising protectionism and shifting trade dynamics, it is more important than ever that we stand together, united in our commitment to Africa’s development and prosperity.”

‘AFREXIMBANK IS A PILLAR OF AFRICA’S PROGRESS’

The president said Afreximbank was established 32 years ago out of Africa’s determination to drive its own development and has since become a pillar of progress, mobilising over $250 billion for trade and development.

Tinubu said Nigeria has proudly benefited from over $52 billion in support directed into energy, agriculture, infrastructure, manufacturing, healthcare and creative industries.

“Flagship projects such as the Dangote refinery, the African Medical Centre of Excellence and the African Quality Assurance Centre embody confidence in Nigeria’s future and Africa’s potential,” he said.

“This partnership extends beyond capital. Nigeria’s formal approval of the African payment settlement system, PASS, is a significant step towards financial independence.

“PASS enables a cross-border trade in local currencies, reducing reliance on foreign exchange and promoting economic stability.

“I urge all African nations to embrace PASS because deeper financial integration strengthens our collective resilience.”

Tinubu said his administration, has introduced difficult but necessary reforms, aimed at achieving macroeconomic stability, inclusive growth and restoring productivity.

He added that Nigeria’s collaboration with Africa is expanding in both scope and ambition, as the country prepares to launch the Africa Energy Bank headquarters in Abuja, with a starting capital of $1 billion to finance the continent’s energy transition through gas, renewables, and clean technologies.