Afrexim Bank Says It Has $3bn Exposure In Nigeria
Afrexim Bank headquarters in Cairo Egypt. Image: Guardian NG

The African Import-Export Bank (Afrexim) has revealed that it has a business exposure of about $3.2 billion in Nigeria.

This was revealed by Afrexim Bank President Benedict Oramah on Wednesday in Abuja in a meeting with Nigeria’s Finance Minister Zainab Ahmed.

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Oramah also said Nigeria’s shares in the financial outfit is reducing and wants the country to regain its rightful place.

According to him, “Nigeria is still a major shareholder in the bank, although of recent, it has fallen back in terms of its relative position.

“That is why we have had this discussion with the minister of finance to see how Nigeria could return to the position it was.

“We have got assurances that the government would look at it and we hope that Nigeria’s holdings would come to the levels that would reflect the size of the Nigerian economy.

“In terms of business in Nigeria, we have exposure of more than $3.2bn.

“We are supporting virtually all the banks in Nigeria in terms of lines of credit to be able to do export and import as well as supporting the SMEs.”