Wema Bank Hosts Importer-Exporter Engagement Forum

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first-fully digital bank, ALAT, has held its first physical Importer-Exporter Forum in grand style at the Lagos Oriental Hotel on Wednesday.

Themed: “Building A Symbiotic Trade Ecosystem For Effective Trade Decisions”, the forum convened importers, exporters, aspiring international traders and relevant regulatory bodies, to address issues impeding international trade in the Nigerian context, proffering viable solutions tailored to facilitate seamless international trade operations and enable a mutually beneficial import-export synchronisation.

The groundbreaking event also witnessed the launch of the Wema Export Trade Academy, a virtual educational facility for nurturing international trade enthusiasts to success. The Academy, pioneered by Wema Bank, is strategically 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 fruitful and sustainable export trade business.

Wema Bank’s managing director, Moruf Oseni, highlighted the Bank’s 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”, he said.

The Central Bank of Nigeria (CBN) 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. I am honoured to be here and we are hopeful that these trade discussions will generate policy options that can improve foreign exchange earnings”, he said.

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Attesting to the optimum efficiency of Wema Bank’s Trade Services, David Olurin, the Managing Director, Cardinal Torch Company Limited, disclosed Wema Bank’s pivotal role in facilitating his company’s success in international trade. “Our road to success in the non-oil export sector was fraught with challenges from limited resources to finding the right partners, financial constraints, etc. 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. As we continue to expand our footprints, I extend our utmost gratitude to Wema Bank for fuelling our aspirations and helping us access new markets. The best is clearly yet to come from Wema Bank”, he said.

The Wema Bank Importer-Exporter Forum 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.

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.