By George Ozalla
President Bola Ahmed Tinubu has conferred the second highest national honor of Grand Commander of the Order of the Niger (GCON) on Professor Benedict Okey Oramah, the outgoing President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank). The conferment took place Friday during the on-going 32nd Annual Meetings of the Bank in Abuja, Nigeria.
Tinubu lauded Oramah’s transformative leadership, describing him as a pivotal figure in shaping Africa’s financial and trade landscape. “Today is your day, Prof Oramah. I have listened to the accounts and reports you read eloquently, which also consist of lessons for us, your friends. I have the honour and privilege of conferring on you one of the highest recognitions of our country, Grand Commander of the Order of the Niger (GCON),” Tinubu stated, amidst applauses.
Tinubu spotlighted Afreximbank’s achievements under Oramah’s leadership, observing that the bank’s assets grew from $5 billion to over $37 billion. He also mentioned that the bank mobilized more than $150 billion for trade and development in Africa over the last decade, with Nigeria benefiting substantially from this growth, receiving over $52 billion in support directed towards various sectors, including energy, agriculture, infrastructure, manufacturing, healthcare, and the creative industry.
Tinubu emphasized the importance of financial integration, reaffirming Nigeria’s formal approval of the Pan-African Payment and Settlement System (PAPSS). “This partnership extends beyond capital. Nigeria’s formal approval of the Pan-African Payment and Settlement System (PAPSS) is a significant step towards financial independence. PAPSS enables cross-border trade in local currencies, reducing reliance on foreign exchange and promoting economic stability. I urge all African nations to embrace PAPSS because deeper financial integration strengthens our collective resilience,” he said.
Oramah has played a crucial role in shaping Afreximbank’s vision and strategy, driving the bank’s growth and expansion with a focus on promoting intra-African trade and investment opportunities. Under his leadership, Afreximbank has supported numerous flagship projects, such as the Dangote Refinery, the African Medical Centre of Excellence (AMCE), and the Africa Quality Assurance Centre, which are expected to have a great impact on the continent’s economic growth and development.
Professor Benedict Okey Oramah is a renowned expert in international trade and finance, with a PhD in Agricultural Economics from Obafemi Awolowo University. He has over three decades of experience in trade finance and has published numerous articles on African economic and trade-related matters. Oramah is expected to step down today as shareholders gather to elect a new President during the annual shareholders meeting in Abuja.
