By Chinelo Obogo
Wema Bank recently hosted its importer-exporter forum where viable solutions tailored to facilitate seamless international trade operations and enable a mutually beneficial import-export synchronisation were proffered.
The forum, with theme, “Building a Symbiotic Trade Ecosystem For Effective Trade Decisions,” convened importers, exporters, aspiring international traders and relevant regulatory bodies to address issues impeding international trade in the Nigerian context. The event also witnessed the launch of the Wema Export Trade Academy, a virtual educational facility for nurturing international trade enthusiasts to success, equipping them with resources to help in identifying the right products, locating willing buyers, navigating regulatory provisions, receiving payments and accessing funding facilities.
The bank’s Managing Director, Moruf Oseni, highlighted the dedication to providing cutting-edge 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.
“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.
“This forum has significantly restructured the international trade landscape and with the Wema Africa Trade Academy, Wema Bank is set to empower seamless trade within Africa and across the globe towards the significant improvement of our economic situation and the advancement of Nigeria as a whole,” he said.
The Central Bank of Nigeria’s, Director, Trade and Exchange Department, Dr. Mahmud Hassan, shared some insight on the CBN’s role in international trade and the navigation of monetary challenges. “Managing trade in Nigeria has both physical and monetary aspects as 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 in order to safeguard the international value of the Naira,” he said.
In attendance at the event were representatives from the Nigeria Customs Service, CBN, National Export Promotion Council (NEPC), the host, Wema Bank and several other institutions.