Thank you all for joining me. I want to start by thanking the Lagos Business School for graciously hosting us. I’m glad to be here today representing President Biden and the United State Government. My visit this week comes on the back of those by many other officials in the Biden Administration, including Secretary of…
In a significant move towards expanding cryptocurrency accessibility in Nigeria, Yellow Card (https://YellowCard.io/), a pioneering African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem. This strategic partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers. Nigeria has emerged as a powerhouse…
For almost four decades, Nigeria has been going round in circles, trapped in the wilderness of a Structural Adjustment Programme (SAP), which was supposed to take her to the Promised Land, but is obviously yet to, and which the proponents will argue is our fault. Nigeria remains marooned in no man’s land, sapped of the…
Again, we are back at this conversation about the conditional cash transfer scheme. If you have been engaged in a bit of social listening since the announcement of a proposed payment of N8000 to the most vulnerable in form of conditional cash transfer was announced, you could not but have noticed the talkdown about it….
5 African Development Bank Governors have signed an agreement committing to contribute at least $1 million to the replenishment of the African Development Fund (ADF), the concessional window of the Bank Group. Under the self-initiated agreement, the five-member constituency—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—will contribute to the ADF from its next replenishment cycle…
The Board of Governors of the African Development Bank Group has approved Management’s request to leverage the equity of the African Development Fund, its concessional lending window, to mobilize more resources on the capital markets. When fully implemented, the Bank Group could unlock up to $27 billion to help low-income and fragile states., Bank Group…
African Development Bank Group has highlighted its critical contributions to the continent’s development and the wellbeing of its people in 2022. The Annual Development Effectiveness Review published yearly since 2011, assesses the Bank’s support to the sustainable development of African countries. It specifically monitors contributions to the Bank’s High 5 strategic priority areas driving Africa’s…
Islamic Corporation for the Development of the Private Sector (ICD) is launching a potential five-year Tenge sukuk to expand its operational assets in Kazakhstan and support local lending; this could be the first-ever tenge sukuk by a Development Financial Institution and will be an amortized Sukuk with all payments made in Tenge; the move supports…
The African Development Bank Group has announced a 24-month debarment of Goldsun Investments Company Ltd. with effect from 31 January 2023. Goldsun Investments Company Ltd. is a limited liability company registered in the Republic of Kenya. An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Goldsun Investments Company Ltd. engaged in…
Olajide Abiola, co-Founder and Chief Executive Officer of Kiakia, one of Nigeria’s pioneer digital lenders and leading peer-to-peer marketplace, has announced his decision to step down as the Chief Executive Officer of Kiakia with immediate effect. In a statement released on Tuesday, Mr Abiola announced that Chiemeziem Anyadike, co-Founder and COO of Kiakia will be…
