WEMA Bank has stressed the need to address issues impeding International Trade in the Nigerian context, while empowering aspiring and experts in the field for increased impact.
This was disclosed at the Bank’s first physical Importer-Exporter Forum, tagged: ‘Building A Symbiotic Trade Ecosystem For Effective Trade Decisions,’ held in Lagos.
The event aimed at proffering viable solutions tailored to facilitate seamless international trade operations and enable a mutually beneficial import-export synchronisation. The forum, which witnessed the launch of the Wema Export Trade Academy, a virtual educational facility for nurturing international trade enthusiasts to success, convened Importers, Exporters, aspiring International Traders and relevant Regulatory Bodies.
The academy is designed to nurture export enthusiasts from cradle, equipping them with exclusive expert resources to help them identify the right products, locate willing buyers, navigate regulatory provisions, receive payments and access funding facilities, to build a sustainable export trade business.
The Managing Director, Moruf Oseni, highlighted the bank’s dedication to profferi ng solutions for businesses, adding that the end goal is to create a new generation of trade champions who will propel Nigeria to the forefront of the global trade marketplace.
He said “We have a wealth of natural resources and a burgeoning entrepreneurial spirit, what we need are the right tools, knowledge and partnerships to translate this potential into tangible trade success stories. This forum, coupled with our Wema Africa Trade Academy is our own way of providing tools for entrepreneurs in the International Trade sector.”
Central Bank of Nigeria (CBN) Director, Trade and Exchange Department, Dr. Mahmud Hassan, stated that effective trade in Nigeria depends on synergy between the physical and monetary authorities.
“The CBN draws its power on trade oversight from the core mandates of the CBN such as price stability and the maintenance of the country’s external reserve to safeguard the international value of the Naira.
Also speaking, the Managing Director of Cardinal Torch, David Olurin, stated that the country’s road to success in the non-oil export sector was fraught with challenges from limited resources to finding the right partners, and financial constraints, among others.
“In our moment of need, Wema Bank emerged as a beacon of hope, offering a lifeline with their innovative financing solutions that reflected a deep understanding of our needs,” he said.
In attendance at the event were representatives from the Nigeria Customs Service, CBN, National Export Promotion Council (NEPC) and other noteworthy institutions; all of whom were instrumental in addressing concerns raised by attendees and providing much needed insight on the intricacies of international trade, arming attendees with resources for efficient and profitable import and export trade operations.
