Nigeria Requests AfDB Contribution Withdrawal

Nigeria wants to take out its USD200 million contribution to the African Development Bank amid diminishing oil prices and weakening economy. If approved by the bank's board, the sum will be withdrawn from the USD330 million Nigeria Trust Fund,

reported. The move will not impinge on AfDB's operation, according to bank treasurer Pierre van Peteghem, since the majority of the bank's funding is obtained from member countries, donors and borrowing.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.