Business
Tinubu Demands Quick Action Plans from Tegbe on China’s US$51bn New Financing
President Bola Ahmed Tinubu has tasked the newly appointed Mr. Joseph Olasunkanmi Tegbe, the Director-General and global liaison for the Nigeria-China strategic partnership, to immediately submit a strategic action plans that will enable Nigeria to benefit from the China’s US$51bn new Financing for African Nations.
Recall that at the 2024 Forum on China-Africa Cooperation (FOCAC), President Xi Jinping pledged 360 billion yuan, or about $51 billion, in new financing to African nations in the next three years.
In a statement, Bayo Onanuga
Special Adviser to the President
(Information and Strategy), said that Tegbe, following his appointment will report directly to the President, as the czar of the strategic partnership agreements reached between the two countries in Beijing.
” Tegbe will lead day-to-day operations, engage continuously with the Chinese counterparts, and ensure that all deliverables are met and synchronised with national development goals.
In the strategic plan, he will outline the specific deliverables, timelines, and key performance indicators for each area of cooperation. This will include priority projects, projected investments and expected socioeconomic outcomes,” said the statement.
Profile of Tegbe
He was a 1988 first-class graduate in civil engineering from Obafemi Awolowo University.
Tegbe
is a fellow of the Institute of Chartered Accountants of Nigeria and a fellow of the Chartered Institute of Taxation of Nigeria.
After his education at Federal Government College, Ogbomosho, and Obafemi Awolowo University, he had about 35 years of experience in business strategy.
He was the senior partner and head of advisory services at KPMG in Africa, with a portfolio and responsibilities that included the Middle East.
He has worked for many Fortune 500 companies and African conglomerates, advising on strategic planning, investment, and portfolio reviews.
He also led subnational governments, such as Oyo, Ekiti, Ondo, Benue, and Bayelsa, in investment drives to South Africa, Denmark, China, India, Singapore, and the UAE.
OFFICIAL CBN EXCHANGE RATES
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GREAT BRITISH POUND (GBP) ₦1,824.90
EURO (EUR) ₦1,577. 58
SWISS FRANC (CHF) ₦1,710.13
JAPANESE YEN (JPN) ₦8.54
CHINESE YUAN (CNY) ₦203. 13
WEST AFRICAN CFA (XOF) ₦2.39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867. 05
SAUDI RIYAL (SAR) ₦367.72
SOUTH AFRICAN RAND (ZAR) ₦83. 89
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 393 Sell ₦1, 400
GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
Official CBN Exchange Rates
US DOLLAR (USD) ₦1,380. 11
GREAT BRITISH POUND (GBP) ₦1,818.34
EURO (EUR) ₦1,566.84
SWISS FRANC (CHF) ₦1,698.80
JAPANESE YEN (JPN) ₦8.53
CHINESE YUAN (CNY) ₦202. 99
WEST AFRICAN CFA (XOF) ₦2.39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,866. 38
SAUDI RIYAL (SAR) ₦367.54
SOUTH AFRICAN RAND (ZAR) ₦83.65
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 392 Sell ₦1, 395
GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
Official CBN Exchange Rates
US DOLLAR (USD) ₦1,380.08
GREAT BRITISH POUND (GBP) ₦1,815. 63
EURO (EUR) ₦1,566.63
SWISS FRANC (CHF) ₦1,696.05
JAPANESE YEN (JPN) ₦8.53
CHINESE YUAN (CNY) ₦202.62
WEST AFRICAN CFA (XOF) ₦2.38
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,858. 54
SAUDI RIYAL (SAR) ₦367.58
SOUTH AFRICAN RAND (ZAR) ₦82. 91
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 390 Sell ₦1, 395
GREAT BRITISH POUND (GBP) Buy ₦1,845 Sell: ₦1,865
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
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