AfDB

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Lagos (INVESTADVOCATE)-Christine Lagarde, the managing director of the International Monetary Fund (IMF) on Monday visited Nigeria to discuss the issues of the nation’s economic challenges.

The Fund says Lagarde during her visit will engage policy makers and other stakeholders in both Nigeria and the sub-region to underline the IMF’s strong relationship with its African member countries.

According to the global financial institution, the visit to Nigeria will provide an opportunity to strengthen the Fund’s partnership with the largest economy in sub-Saharan Africa. In Abuja, Lagarde is expected to meet with President Muhammadu Buhari and other seniour leaders, along with business leaders, prominent women, and representatives of civil society. “She will also meet with legislators,” a statement from the Fund affirmed.

“I look forward to productive meetings with President Buhari and his colleagues as they address important economic challenges, most importantly the impact of low oil prices,”

Lagarde said ahead of her trip. “Nigeria is working hard to improve its business environment, promote opportunities for growth in the private sector, and strengthen social cohesion, all areas where the government has an important role to play.”

In the same vein, she is expected to also visit Nigeria’s neighbour Cameroon, where she will meet President Paul Biya and his economic team, as well as private sector executives, women leaders, and other members of Cameroonian society. She will also meet with Finance Ministers from the six member countries of the Economic and Monetary Community of Central Africa (CEMAC), delivering a speech to the group on January 8.

“As the largest and most diversified economy in CEMAC, Cameroon is well placed to sustain, and reinforce, the momentum of integration,” Ms. Lagarde said. “The country and the entire CEMAC region are confronted with the twin shocks of the oil-price slump and a surge in disruptions related to security. Reinforcing regional integration and implementing ambitious reform agendas in CEMAC countries will be key to secure macroeconomic stability and restore strong and inclusive growth in the region.”

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Press Release

New Africa Structure to focus on Growing Bank’s Coverage across Key Markets

Johannesburg / Lagos– Citi today announced the appointment of Ade Ayeyemi as Chief Executive Officer for its Sub Saharan Africa Division, based in Johannesburg. The bank also announced that its North African business will now report to heads Citi’s Middle East Division, based in Dubai.

Mr Ayeyemi is an experienced Citi banker with a career spanning twenty five years at the bank.  He held several roles in senior operations and business areas at Citi Nigeria before assuming regional positions, including heading Citi’s East African sub division. Up until his new assignment, he was Head of Citi Transaction Services in Africa, one of the bank’s main business engines across the continent. Ade holds a Masters from SOAS University of London, degrees in Accounting from University of Ife in Nigeria and is a Chartered Accountant. He is also a member of the Board of Directors for Citibank Nigeria Limited.

On Mr. Ayeyemi’s appointment, Citi’s EMEA CEO Jim Cowles said, “Citi has been in Africa for nearly 50 years and the continent is critical to our franchise.  We have been very committed to developing and growing local talent so that they can assume strategic roles within the company, so it is significant that we have appointed Ade to this important role as we focus on capturing the opportunities that exist across the Sub Saharan region.”

Commenting on his new role, Mr. Ayeyemi said: “I am delighted to be leading Citi’s Sub-Saharan franchise, and I look forward to building on our strengths and expanding our business in Africa. The synergies across this vast region are immense, and together with the Africa team and the global organisation, we will ensure we remain the bank of choice for our clients.”

Citi operates across the region with a physical presence in twelve Sub-Saharan countries including South Africa, Nigeria, Kenya, Congo, Ivory Coast, Zambia, Uganda, Gabon, Cameroon, Senegal, and Tanzania, while it maintains a representative office in Ghana.

About Citibank Nigeria Limited

Citibank Nigeria Limited is a subsidiary of Citigroup Inc (Citi). The bank started its operations in Nigeria in 1984 and focuses on Corporate and Investment Banking, with a broad range of services, including global transaction services, sales and trading, corporate finance and investment banking services being offered to corporate and commercial customers, financial institutions and public sector organizations. Citibank Nigeria operates 12 branches and has almost 250 employees across the country

Media Contact: 

Nigeria: Ogochukwu S. Ekezie              

Phone Number  +234 (1) 279 8403 /

08035354761

South Africa: Vanashree Moodley         

Phone Number  +27 (011) 944 0257

Ogochukwu Sylvia Ekezie
Vice President
Public Affairs Officer – Nigeria & Ghana
Citibank Nigeria Limited 

27 Kofo Abayomi Street  |  Victoria Island, Lagos
Tel: +234 1 279 8400 or 463 8400
D/L: 234 1 279 8403 or 463 8403  | Mobile: +234 803 535 4761
Web: www.citi.com/nigeria 

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