In a significant move aimed at bolstering Nigeria’s sustainable export trade business, Wema Bank hosted its first physical ‘Importer-Exporter Forum’ in Lagos, signaling a commitment to foster a new generation of trade champions and propel Nigeria to the forefront of the global trade marketplace.
The event marked the launch of the Wema Export Trade Academy, a virtual educational platform aimed at nurturing international trade enthusiasts and equipping them with the tools and resources necessary for success in the export trade domain.
The academy, spearheaded by Wema Bank, is strategically designed to guide export enthusiasts from inception, providing them with exclusive expert guidance to identify profitable products, connect with willing buyers, navigate regulatory frameworks, facilitate payment transactions, and access funding opportunities. Its ultimate goal is to cultivate a flourishing and sustainable export trade ecosystem.
Themed “Building A Symbiotic Trade Ecosystem For Effective Trade Decisions,” the event brought together importers, exporters, aspiring international traders, and relevant regulatory bodies to address challenges hindering international trade. Participants engaged in discussions aimed at devising practical solutions tailored to facilitate seamless international trade operations and foster mutually beneficial import-export relationships.
Moruf Oseni, Managing Director of Wema Bank, emphasized the bank’s commitment to providing cutting-edge solutions for businesses, stating, “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 way of empowering entrepreneurs in the International Trade sector.”
Dr. Mahmud Hassan, Director of the Trade and Exchange Department at the Central Bank of Nigeria (CBN), shed light on the CBN’s role in international trade and addressing monetary challenges. He emphasized the importance of synergy between physical and monetary authorities for effective trade management in Nigeria, highlighting the CBN’s mandate to ensure price stability and safeguard the country’s external reserves to maintain the international value of the Naira. Dr. Hassan expressed optimism that the discussions at the forum would generate policy options to enhance foreign exchange earnings.
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