IsDB 2026: First Abu Dhabi Bank Lauded for $626m Murabaha Financing Transaction for Lagos-Calabar Coastal Highway

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Sunday Okobi in Baku, Azerbaijan

First Abu Dhabi Bank (FAB) has been lauded for its role in the USD626 million Murabaha financing transaction for the Lagos-Calabar Coastal Highway Development in Nigeria, on the side-lines of the ongoing IsDB Group Annual Meetings 2026 in Baku, Azerbaijan.

The commendation was made when Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral credit and political risk insurer and member of the Islamic Development Bank Group (IsDB), announced the winners of its flagship awards at the IsDB Group Private Sector Forum 2026 at the meeting yesterday.

FAB was named winner of the ICIEC Most Impactful Project of the Year award for its role in the financing transaction that made the Lagos-Calabar Coastal Highway Development in Nigeria a possibility.