Bangkok, 12 October 2026 – Nigeria and the African Development Bank (AfDB) have agreed to a joint technical review of the Bank’s portfolio in the country and to prepare an official visit by AfDB President Dr Sidi Ould Tah.

The agreement was reached on Monday when Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele met Ould Tah on the sidelines of the 2026 IMF and World Bank Group Annual Meetings in Bangkok.

Oyedele reaffirmed that Nigeria will remain the Bank’s largest shareholder and will meet its capital subscription obligations. He stressed that the long-standing partnership should now deliver greater development finance and tangible economic benefits.

He also expressed Nigeria’s support for the AfDB’s Four Cardinal Points agenda under Ould Tah’s leadership: bridging Africa’s financing gap, securing the continent’s financial sovereignty, harnessing its demographic dividend, and building resilient infrastructure through the local transformation of natural resources. Oyedele said the priorities align closely with Nigeria’s own development goals.

The planned portfolio review will identify implementation bottlenecks, accelerate project delivery and ensure ongoing operations are better aligned with the Federal Government’s priorities. Ould Tah’s proposed visit is expected to include meetings with President Bola Ahmed Tinubu, senior officials and other stakeholders.

The two sides also discussed the high cost of borrowing facing African countries. Oyedele noted that international credit ratings often fail to reflect improvements in economic fundamentals and reform progress, raising financing costs for nations such as Nigeria.

In response, Ould Tah said the AfDB is developing a facility to provide African governments with technical and analytical support in their dealings with credit rating agencies, helping them present credible data and challenge assessments where necessary.

Other topics included African financial integration, local-currency transactions, trade insurance and credit enhancement to lower investment risk and attract private capital. Both parties also underlined the need to retain skilled professionals on the continent.

Technical work on financing and portfolio performance will continue alongside preparations for the AfDB President’s visit to Nigeria.

The Federal High Court in Abuja on Monday struck out the eight-count forgery charge brought against the self-styled Director-General (DG) of the alleged “non-existent” Presidential Foreign Investment Promotion Council (PFIPC), Prince Adeniyi Adeyemi.

Justice Mohammed Umar terminated further proceedings in the case following an application by the Federal Government, which was represented by the Director of Public Prosecutions of the Federation (DPPF), Mr. Rotimi Oyedepo, SAN.

It will be recalled that although the charge was originally brought before the court by the police, the office of the Attorney-General of the Federation (AGF) took over the prosecution at the last adjourned date.

When the matter was called on Monday, the DPPF notified the court that the AGF, after a proper review of the case file, had found some loopholes that informed his decision to withdraw the charge.

He told the court that the government had concluded plans to move the case to the High Court of the Federal Capital Territory (FCT) for a fresh arraignment of the defendant.

Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, has sworn in 68 new Senior Advocates of Nigeria (SANs) at the ceremony marking the 2026/2027 legal year.

The Nigerian Television Authority (NTA) reported the development accompanied by a video and photographs shared on its official X handle, on Monday.

During her address at the Supreme Court Complex in Abuja, Kekere-Ekun urged judicial officers to embrace reforms aimed at accelerating the administration of justice, citing the increasing number of cases before the courts.

She also encouraged judges to leverage technology to improve the adjudication of cases.

Reviewing the judiciary’s performance in the year under review, the CJN disclosed that more than 2,000 cases were filed at the Supreme Court, with civil matters accounting for the majority.

Kekere-Ekun also cautioned legal practitioners against discrediting court judgments in the media.