For the second time since its inception, a Nigerian has been elected as president of the African Export and Import Bank (afreximbank), and has formally assumed office in Cairo yesterday.

Dr. Benedict Oramah was elected president of the Afreximbank in Lusaka at the annual general meeting of the bank which was held in June, 2015.

Oramah is the second Nigerian to head the bank, after Mr. Chris Edordu, who was the pioneer president of the bank. Oramah is the third person to hold the presidential position.

While he was speaking at the ceremony, Oramah assured shareholders of his determination to move the bank forward during his tenure.

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“I assure that we shall not be lulled by the path so much paced by my predecessors, neither shall we be consumed by the paralysis of the will by challenges of the future. I step in with courage before me, vision before me and determination inside me and the grace of God before me. Propelled by all these virtues, you have my assurances that we have many plans and none of the plan is a plan for failure. The African story is a wake-up call to us all; it justified the need to act and it brings to the fore the urgency,” Oramah said.

Oramah had joined Afreximbank as a chief analyst in 1994 before going on to hold various positions and ultimately head the bank.