Foreign-owned banks in Nigeria received 73% of capital inflow in 2020 – NBS Report



President Muhammadu Buhari has called for a comprehensive reform of the structures and operations of the African Union.

The call is to make the body more functional in meeting targets, as he warned that the organization would become stale, except it becomes more result-oriented.

This was disclosed by the President at the ongoing two-day 34th Summit of the AU, held virtually, according to one of the Media aides of President Buhari, Garba Shehu via his Twitter handle.

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He stated, “As your excellences are no doubt aware, global realities demand that the AU be overhauled, if it must remain relevant in intergovernmental processes.

“We must work concertedly to ensure a productive, self-sufficient and purpose-driven organization that will fully serve the interests of the people.

“As we commence the operationalization of this new structure and system, Nigeria demands a truly reformed, efficient and effective AU Commission, one that is fully committed to the discharge of its duties and responsibilities.’’

The President commended President Paul Kagame of Rwanda for presenting a special report on the need to reform the AU.

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What you should know

  • The Heads of State and Government of the African Union also elected Amb. Bankole Adeoye as Commissioner, Political Affairs, Peace and Security.
  • President Buhari notes, with gratitude, the overwhelming and historic endorsement of the ambassador with 55 votes, an indication that all the members voted, while congratulating the career diplomat, who also serves as Nigeria’s Permanent Representative to the AU and UNECA.
  • President Buhari urged Amb. Adeoye to deploy his knowledge and experience in foreign policy and diplomacy, particularly on bilateral and multilateral issues, to bring value to the new position, with an assurance of the country’s support.


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