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Afreximbank Appoints George Elombi as Next President

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By Tony Obiechina Abuja

The shareholders of the African Export-Import Bank (Afreximbank) have appointed Dr. George Elombi as the next President and Chairman of the Board of Directors of the continental financial institution.

Elombi becomes the fourth President to lead the Bank since its establishment in 1993.

His appointment was one of the key decisions of the 32nd Afreximbank group annual meetings and associated events held in Abuja, Nigeria, from 25 to 28 June, with the formal annual general meeting of shareholders taking place on Saturday, June 28, 2025.

He succeeds Professor Benedict Oramah, who has served as President and Chairman of the Board of Directors since 2015, and who will be stepping down in September 2025.

A Cameroonian national, George Elombi has been with Afreximbank since 1996, joining as a Legal Officer. He rose through the ranks to become Executive Vice President, Governance, Legal and Corporate Services. Over his nearly three decades at the Bank, he has served as Director and Executive Secretary (2010–2015); Deputy Director, Legal Services / Executive Secretary (2008–2010); Chief Legal Officer (2003–2008); and Senior Legal Officer (2001–2003).

Prior to joining Afreximbank, he taught law at the University of Hull, United Kingdom.

Dr. Elombi played a pivotal role in establishing Afreximbank group’s structure, including the formation of key subsidiaries that have expanded the Bank’s capacity to deliver on its mandate. As Chair of the Emergency Response Committee, he led the Bank’s response to the COVID-19 crisis, mobilising over $2 billion for vaccine acquisition and deployment across African and Caribbean nations. Under his supervision of the Equity Mobilisation and Investor Relations department, the Bank’s total ordinary equity mobilised amounted to USD 3.6 billion as at April 2025.

In his acceptance speech, Dr. Elombi expressed a deep commitment to the Bank’s mission and future, stating:

“I have worked alongside remarkable colleagues and extraordinary leaders to help shape this institution’s vision, its mandate as well as its growth.  As we look to the future, I see Afreximbank as a force for industrialising Africa and for re-gaining the dignity of Africans wherever they are.  I will work to preserve this important asset.”

He accepted the shareholders’ desire as expressed by his predecessor to make the institution a US$250 billion bank in ten years.

Dr. George Elombi holds a Master of Laws (LL.M.) from the London School of Economics, University of London, and a Ph.D. in commercial arbitration from the same university. He obtained a ‘Maitrise-en-Droit’ from the University of Yaoundé in 1989.

His appointment followed a rigorous selection process initiated in January 2025, which included a global call for applications published in international media and on the Afreximbank website. Shortlisted candidates were interviewed by an international human resource executive search firm. The top candidates were presented to the Board of Directors, which recommended Dr. Elombi to the General Meeting of Shareholders for final approval.

Under the Afreximbank Charter, a president is appointed by the general meeting of shareholders upon the recommendation of the Board of Directors for a term of five years, renewable once.

General News

NiMet Forecasts Three-day Dust Haze, Sunshine from Today

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The Nigerian Meteorological Agency (NiMet) has predicted dust haze and sunshine from Monday until Wednesday across the country.

‎NiMet’s weather outlook released on Sunday in Abuja, envisaged moderate dust haze over parts of Kebbi and Kano States of the northern region on Monday.

‎It predicted horizontal visibility of 2km to 5km over the region with the rest of the northern States to be under sunny and hazy skies throughout the forecast period.

‎”For central region, moderate dust haze with horizontal visibility of 2km to 5km is anticipated over parts of the Federal Capital Territory and Niger states, while the rest of the states in the region should be under sunny and hazy skies throughout the forecast period.

”For southern region, sunny skies with a few patches of cloud are anticipated over the region with prospects of afternoon/evening thunderstorms with light rains over parts of Bayelsa, Lagos, Cross River and Akwa Ibom States,” it said.

‎According to NiMet, a slight dust haze is anticipated over parts of Kano and Kebbi States of the northern region on Tuesday, while the remaining states in the region are expected to have sunny and hazy skies throughout the forecast period.

The agency envisaged sunny and hazy skies over the central region throughout the forecast period with chances of isolated thundery activity over parts of plateau state during the afternoon and evening hours.

‎It anticipated sunny skies with patches of cloud over the southern region with prospects of afternoon or evening thunderstorms with light rains over parts of Ogun, Ondo, Edo, Bayelsa, Rivers, Lagos, Cross River and Akwa Ibom States.

‎NiMet forecasts sunny and hazy skies over the northern region throughout the forecast period on Wednesday.

‎The agency predicted sunny and hazy skies over the central region throughout the forecast period.

‎According to NiMet, sunny skies with a few patches of cloud are anticipated over the southern region with prospects of afternoon or evening thunderstorms with light rains over parts of Oyo, Ogun, Ondo, Edo, Bayelsa, Rivers, Lagos, Delta, Cross River and Akwa Ibom States.

‎”Dust particles are in suspension; the public should take necessary precaution; People with asthmatic health conditions and other respiratory issues should be cautious of the present weather condition.

‎”Driving under the rain should be with caution. Airline operators are advised to get airport-specific weather reports (flight documentation) from NiMet for effective planning in their operations,” it said

‎The agency urged residents to stay informed through weather updates from NiMet, and visit its website on www.nimet.gov.ng.

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General News

FG Declares Holidays for Christmas, New Year Celebrations

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The Federal Government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day.

It also announced Thursday, January 1, 2026, as a public holiday for the New Year celebration.

The announcement was made in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Dr.

Magdalene Ajani, on behalf of the Minister of Interior, Olubunmi Tunji-Ojo.

According to the statement, the minister urged Nigerians to reflect on the values of love, peace, humility, and sacrifice associated with the birth of Jesus Christ.

Tunji-Ojo also called on citizens, regardless of faith or ethnicity, to use the festive season to pray for peace, improved security, and national development.

He further advised Nigerians to remain law-abiding and security-conscious during the celebrations and wished them a Merry Christmas and a prosperous New Year.

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Otu Receives New Charts for Bakassi Deep Seaport

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From Ene Asuquo, Calabar

The Cross River State Government has recorded a major breakthrough in its quest to transform the state into a maritime hub with the official presentation of the Hydrographic, Geotechnical, geophysical Report and New Navigational Chart for the proposed Bakassi Deep Seaport project.

Out, who spoke at a formal ceremony held in the State Executive Council Chamber in Calabar, described the event as a “historic milestone” that not only affirms Nigeria’s maritime boundaries but also sets the stage for an economic revolution across the Gulf of Guinea.

“This is truly a historic day, not just for Cross River State but for the entire country,” Governor Otu said.

“What we have achieved today replaces charts dating back to 1903 and settles long-standing debates about Cross River’s status as a littoral state. This chart clearly affirms our coastal status.”

Otu emphasized that the updated maritime chart now aligns with S-100 international standards, positioning Cross River for deepwater commerce and international shipping operations.

“When we connect this with the ongoing coastal highway, we’re looking at a completely different city,” he said. “The economic potential is enormous.”

Otu acknowledged the foundational work of former NDDC Chairman Professor Eyo Etim Nyong, describing the seaport project as a dream revived and revitalized.

“We picked up this dream where the former governor, Professor Ben Ayade left off. Public funds had been committed, and we could not allow it to die. Today is another giant step toward its full realization,” he said.

With the technical phase complete and the report formally presented, Governor Otu disclosed that the project now awaits a final seal of approval from the Federal Executive Council (FEC).

“Once we get that FEC seal, work starts almost immediately,” he assured. “Cross River is ready, and this project is not just for us, it is for Nigeria and for West Africa.”

The presentation was led by Rear Admiral Ayo Olugbode, Hydrographer of the Federation and CEO of the National Hydrographic Agency of Nigeria, alongside senior naval officers including the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, and Rear Admiral Anyo Olokunle.

Rear Admiral Olugbode described the report as the culmination of an intensive multi-year effort, beginning with a formal flag-off on December 21, 2024, and followed by rigorous data acquisition starting January 6, 2025. The survey, he said, covered hydrographic, geophysical, and geotechnical dimensions, all aimed at ensuring safety, precision, and international compliance.

“This is more than just a technical report. It is the bedrock for constructing and operating the Bakassi Deep Seaport,” he said. “It provides essential data for engineering design, dredging, breakwater construction, and navigation safety.”

He added that the data would boost investor confidence, enable effective ocean governance, and contribute to global initiatives such as Seabed 2030, a project that aims to map the entire seafloor of the world by 2030.

Olugbode also praised the Cross River State Government for its unwavering support.

“Your Excellency, your administration’s commitment and facilitation of logistics created an enabling environment for the success of this complex operation,” he noted.

The Bakassi Deep Seaport is expected to catalyze investments in shipping, logistics, trade and tourism, while creating jobs and strengthening Nigeria’s position in the global blue economy.

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