Wema Bank has held its first Physical Importer-Exporter Engagement Forum at Lagos Oriental Hotel, with the theme: “Building A Symbiotic Trade Ecosystem For Effective Trade Decisions”.
Importers, exporters, aspiring international traders and regulatory bodies addressed issues impeding international trade, proffering solutions to facilitate seamless operations and enable a mutually beneficial import-export synchronisation.
The event witnessed launch of Wema Export Trade Academy, a virtual educational facility for nurturing international trade enthusiasts. Pioneered by Wema, it would nurture and equip export enthusiasts with resources to help them identify products, locate buyers, navigate regulatory provisions, receive payments and access funding, to build sustainable export trade business.
Wema Bank’s Managing Director, Moruf Oseni, outligned the bank’s dedication to providing solutions for businesses, adding the goal is to create trade champions to propel Nigeria to the forefront of global trade.
“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 trade success. This forum, coupled with Wema Africa Trade Academy is our way of providing tools for entrepreneurs in the international trade sector”, he said.
Central Bank of Nigeria Director of Trade and Exchange Department, Dr. Mahmud Hassan, spoke on CBN’s role in international trade and the navigation of monetary challenges.
“Managing trade in Nigeria has physical and monetary aspects as effective trade in Nigeria depends on synergy between the physical and monetary authorities. CBN draws its power on trade oversight from its core mandates, such as price stability and maintenance of the country’s external reserve to safeguard the international value of the naira…” he said.
Attesting to the efficiency of Wema Bank’s Trade Services, David Olurin, Managing Director of Cardinal Torch Company, noted Wema’s role in facilitating his company’s success in international trade.
“Our road to success in non-oil export sector was fraught with challenges from limited resources to finding right partners, financial constraints, etc.
…Wema Bank offered a lifeline with innovative financing that reflected a deep understanding of our needs, he said.
The bank’s importer-exporter forum restructured the international trade landscape and with Wema Africa Trade Academy, Wema is set to empower seamless trade in Africa and the globe towards improvement of our economic situation and advancement of Nigeria.
In attendance at the event were representatives from the Nigeria Customs Service, the Central Bank of Nigeria [CBN]. the National Export Promotion Council [NEPC], the host, Wema Bank and several 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.
