FCMB, ICCN Call for Sustainable Trade Reforms to Boost Nigeria’s Global Competitiveness
First City Monument Bank (FCMB) and the International Chamber of Commerce Nigeria (ICCN) Banking Commission have jointly advocated for sustainable trade interventions that empower Nigerian businesses to compete globally. The call was made during the Commission’s general meeting hosted by FCMB in Lagos. The stakeholders emphasized that such measures are essential to enhancing Nigeria’s trade competitiveness and strengthening long-term export growth.
The ICCN Banking Commission, a key arm of ICC Nigeria, serves as a hub for stakeholders to collaborate on banking and trade finance policies. It also aligns its efforts with government economic strategies, aiming to bridge the gap between policy and private-sector execution. The Commission is dedicated to shaping best practices in global trade finance while fostering innovation and strategic cooperation within the financial ecosystem.
Felicia Obozuwa, FCMB’s Executive Director of Corporate Services, highlighted the importance of proactive and sustainable approaches to address challenges in today’s fast-paced global economy. She stated that FCMB remains committed to developing standardized rules and practices that will instill trust in international trade. According to her, coordinated strategies and partnerships are key to unlocking Nigeria’s potential in global commerce.
Obozuwa also praised ICCN’s role in professional development and trade facilitation, noting that industry stakeholders must remain informed and united in navigating the complexities of modern commerce. She underscored the need for alignment among banks, businesses, and regulatory institutions to create a more inclusive and efficient trade environment.
Dr. Omolara Akanji, Chairman of the ICCN Banking Commission, echoed these sentiments, describing international trade as a critical lever for national prosperity. She emphasized the central role of banks as facilitators and enablers for Nigerian exporters, and noted that emerging technologies like artificial intelligence can drive the transformation of the trade sector. She lauded FCMB’s continued commitment to the Commission’s objectives and national trade development.
Source: Punch