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November 13, 2019
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Nigeria remains highest shareholder in AfDB – Nmehielle

The African Development Bank (AfDB) on Thursday said Nigeria remained the highest shareholder of the bank with over nine per cent shares.

Prof. Vincent Nmehielle Secretary General of the bank disclosed this at a press conference to announce the Annual General meeting of the bank

He said that meeting would be held in Busan, Korea between May 21 and 25th with the theme “ Industrializing Africa’’.

He said that it was false for some people to say that the bank was not an African bank noting that it had room to welcome non regional countries.

He said the bank had 80 member countries comprising of 54 regional member countries and 24 non- regional members countries.

“This is an African bank and Nigeria still remained the largest shareholder with over 9 per cent shares,’’ he said.

He noted that America had about 6 per cent shares as a non-regional member.

He named other non regional members of the bank to include Japan, Germany, Canada among others.

Nmehielle noted that the bank had received number of requests of interest from non- regional countries to join the bank.

According to him, the countries will be announced during the upcoming annual meeting in Korea.

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