The third quarterly meetings of the Board of Directors of the African Export-Import Bank (Afreximbank) for 2016 has opened in Lagos, Nigeria.
The three-day series of meetings opened this morning with a session of the Executive Committee. Subsequent sessions include those of the Branch Management Committee, the Audit/Risk Committee and the Remunerations Committee. They will conclude on 25 September with the 110th Meeting of the Board of Directors.
The Executive Committee, chaired by the President, is composed of three Board members, representing the three classes of shareholders, and one independent Director. The Board appoints and determines the powers and composition of the Branch Management Committee.
The Audit/Risk Committee, composed of three Board members representing the three classes of shareholders, reviews, examines and verifies the proper application of financial, operational and administrative policies and procedures of the Bank.
Afreximbank President Dr. Benedict Oramah.
On 22 September, Bank President Dr. Benedict Oramah led the Board members on a tour of the petroleum refinery and fertilizer plant under construction by Dangote Industries Limited in the Lekki Free Trade Zone of Lagos.
They also visited the headquarters of Arik Air where Company Chairman Joseph Aruremi-Ikhide said that the airline had become the largest in the West and Central Africa region through a strong focus on service quality and safety.
Participating in those visits were Board members Dr. Mahmoud Isa-Dutse, Permanent Secretary, Ministry of Finance of Nigeria; Jean-Marie Benoît Mani, National Director for Cameroon at the Central Bank of Central African States; Victor-Jérôme Nembelessini Silué, Former Chairman and CEO, Banque Nationale d’Investissement, Cote d’Ivoire; Andrew Gamble from the United Kingdom; Ronnie Sibongiseni Ntuli, Chairman, Thelo Group (Pty) Ltd of South African; and Anil Dua, former CEO for West Africa at Standard Chartered Bank.
Accompanying them were Executive Vice Presidents Denys Denya of Finance, Administration and Banking Services, and Dr. George Elombi, of Governance, Legal and Corporate Services, along with several directors and other staff of the Bank.
Afreximbank President Dr. Benedict Oramah (sitting in blue shirt) and other delegation members during the visit of Afreximbank Board Members to Arik Headquarters in Lagos.