Nigeria, Feb. 3 -- The Nigerian government says it has completed its final obligations for the launch of the Africa Energy Bank, clearing the way for the institution to begin operations.

This was made known in a statement issued Monday by the Nigerian Content Development and Monitoring Board (NCDMB).

According to the statement, Nigeria's Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, at the handover ceremony in Abuja said the government had concluded the procurement, construction and furnishing of the bank's headquarters.

The minister said this has now been formally transferred to the African Petroleum Producers' Organisation (APPO) and Afreximbank.

"Nigeria has completed its final obligations for the launch of t...