Business

Tinubu Appoints Ogunjimi As Accountant General

Published

7 months ago

March 5, 2025

President Bola Tinubu has appointed Shamsedeen Ogunjimi as the new Accountant General of the Federation, AGF, after a rigorous selection processes.

The appointment approved yesterday, takes effect from March 7, 2025, the same day the incumbent Oluwatoyin Madehin will retire, Mr Bayo Onanuga, the President’s Spokesman, said in a statement.

Ogunjimi, 57, was first named as Madehin’s successor last December.

“A selection committee later picked him through a competitive, rigorous, and merit-based process involving Directors of Accounts in the Federal Civil Service.

“The committee conducted the process through three stages: a written assessment, an ICT proficiency test, and oral interview.

“The selection process underscores President Tinubu’s commitment to promoting transparency, excellence, and competence in key public service positions”, said the statement.

Ogunjimi, graduated from the University of Nigeria, Nsukka, in 1990 with a Bachelor of Science in Accountancy.

He also obtained a Master’s in Accounting and Finance from the University of Lagos.
He is a fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria.

Tinubu congratulated Ogunjimi on his appointment and urged him to discharge his duties in the service of Nigeria with integrity, professionalism, and dedication to Nigeria’s service. NAN

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Business

NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

Published

3 days ago

October 2, 2025

The Gleamer

By Joel Ajayi

The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.

For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.

Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.

According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.

Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.

Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.

With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.

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