Nigeria, June 28 -- President Bola Tinubu on Friday urged African countries to strengthen their support for Afreximbank and adopt a continent-wide local currency trade platform to reduce dependence on foreign exchange and improve economic resilience.

Speaking at the 32nd Annual Meetings of the African Export-Import Bank in Abuja, Mr Tinubu said Nigeria has formally approved the Pan-African Payment and Settlement System (PAPSS), which enables cross-border trade in African currencies.

He called on other African leaders to do the same.

PAPSS, developed by Afreximbank and backed by the African Union, launched its exchange platform this week after a year-long pilot. The system was built in partnership with Interstellar, a blockchain firm ba...