Enterprise Television – International Trade: FCMB Calls for Better Stakeholders’ Collaboration
The Managing Director of First City Monument Bank (FCMB), Mr Adam Nuru, has called on banks and other financial institutions in Nigeria to brace for the challenges of international trade and commerce by collaborating more with other stakeholders in order to tap into the opportunities in the sector.
According to him, this would boost their performance and overall contribution to the development of the country.
He confirmed this while declaring open the bi-monthly general meeting of the International Chamber of Commerce Nigerian Banking Commission in Lagos which was hosted by the FCMB.
Mr Nuru, who was represented by the Executive Director of Finance at the bank, Mrs Yemisi Edun, stated that maintaining a sound culture of compliance, due process and capacity building among experts on the trade desks of banks should be accorded priority.
“Banks must also collaborate more with government and other stakeholders to explore better ways to maximize the new and emerging opportunities in the sector.”
“To ensure the business of international trade and commerce is conducted in a responsible and transparent manner, ICC Nigeria should continue to ensure we operate under full and complete compliance with all applicable laws, rules, regulations, policies, and best practices.”
Mr Nuru commended ICC Nigeria for its commitment towards building a transparent, strong and viable banking industry and international trade platform, especially its efforts at “reviewing the new order of trade that encourages the adoption of emerging global best trade settlement practices.”
The Chairman, ICC Nigeria Banking Commission, Dr Raymond Ihyembe, advised banks to upscale their operations with regard to international trade and commerce so as to mainstream businesses in Nigeria into the global community and to promote the creation of wealth and prosperity through international trade and investment.
He said the commission would continue to “assist in the formulation of policies and guidelines for the banking sector to effectively key into and take advantage of opportunities.”
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