The Nigeria Country Director of African Development Bank, Mr Ebrima Faal, says Nigeria is the bank’s largest shareholder with a portfolio of approximately $6bn. Faal, in a statement on Monday, said that President Muhammadu Buhari would inaugurate the bank’s new office complex in Abuja on January 18 to further consolidate the country’s position as the largest shareholder. He said that the state-of-the-art Nigeria Country Department office complex was the first permanent structure to be designed and constructed in any regional member country of the bank. “Nigeria is the AfDB’s largest shareholder with a portfolio of approximately six billion U.S dollars and country operations accounting for 13 per cent of the bank’s total portfolio,” Faal said. Faal said that the Bank Group was established on Sept. 10, 1964 and commenced operations in Nigeria in 1971.

Source: Punch January 15, 2018 16:41 UTC