First City Monument Bank (FCMB) and the International Chamber of Commerce Nigeria (ICCN) Banking Commission have jointly called for sustainable strategies that will empower Nigerian businesses to seize global trade opportunities and enhance the nation’s competitiveness. The call was made at the ICCN Banking Commission’s general meeting hosted by FCMB on Thursday in Lagos.
In a joint statement released after the event, both institutions emphasized the need for targeted interventions that would not only support Nigerian exporters but also create the foundation for long-term growth in the trade and commerce sector. They said such sustainable actions would boost Nigeria’s connectivity in global trade networks and position local enterprises to thrive in international markets.
The ICCN Banking Commission, a key arm of the International Chamber of Commerce Nigeria, focuses on banking and trade finance matters. It provides a platform where stakeholders in the banking and finance industry engage on issues affecting global trade participation. The Commission also plays an advisory role in promoting government policies related to trade finance and banking.
Speaking during the meeting, FCMB’s Executive Director of Corporate Services and Service Management, Mrs. Felicia Obozuwa, said that the fast-changing global economy requires Nigerian stakeholders to stay responsive, collaborative, and forward-thinking. She said that Nigeria must take full advantage of the support provided by ICC Nigeria to energize its trade sector and increase its participation in global commerce.
“In today’s rapidly evolving global economy, it is essential that we respond to emerging challenges and also take proactive steps to create solutions that support sustainable growth,” she said. “Nigeria has a significant opportunity to strengthen its role in international trade. With the collaboration of the International Chamber of Commerce Nigeria, we can introduce and advocate for measures that stimulate our trade sector.”
Obozuwa added that FCMB is fully committed to promoting internationally accepted rules and best practices, while also encouraging stakeholder collaboration. According to her, this is key to fostering trust and improving efficiency in global trade systems. She said the need for coherent strategies and sustainable policies has become more urgent than ever, given the current global economic dynamics.
She also praised the ICCN for its consistent efforts in enhancing professionalism, supporting capacity development, and facilitating international trade. While acknowledging existing challenges in the trade and commerce space, Obozuwa stressed the importance of continuous learning, alignment, and proactive engagement among stakeholders.
“The trade environment is not without its difficulties. But through collaboration and knowledge-sharing, we can overcome these issues and support the long-term growth of Nigeria’s economy,” she added.
Also speaking at the meeting, the Chairman of the ICCN Banking Commission, Dr. Omolara Akanji, emphasized the important role that banks play in enabling international trade. She described international trade as more than just a source of economic growth—it is also a vital connection to the global economy.
“International trade is not just a pathway for economic growth but a bridge that connects us to the global marketplace,” Akanji said. “Banks are central to this ecosystem. They are not just financial institutions; they are trade facilitators. They provide the services that enable our exporters to compete and thrive globally.”
Dr. Akanji said the ICCN Banking Commission will continue to deepen collaboration between banks and businesses. She explained that every Nigerian entrepreneur should have access to the tools, services, and knowledge required to enter and succeed in foreign markets.
She also revealed that the Commission is exploring the use of artificial intelligence (AI) tools to support its goals. According to her, technology, especially AI, has the potential to transform trade finance and remove existing barriers for small and medium-scale exporters.
“We are committed to using AI tools to drive this transformation,” she said. “We commend FCMB for the active role it is playing to achieve the mission and objectives of the Commission. Their support is helping us to build a stronger and more inclusive trade finance system for Nigerian businesses.”
The meeting brought together stakeholders from Nigeria’s banking, trade, and policy sectors. Participants included representatives from commercial banks, trade associations, financial regulators, and export-oriented enterprises. Discussions focused on ways to align local trade finance practices with global standards, improve access to finance for exporters, and create sustainable trade policies tailored to Nigeria’s economic realities.
With Nigeria’s export sector seen as a key driver of economic growth, stakeholders believe that these collaborative efforts between financial institutions, trade experts, and regulators are vital to increasing Nigeria’s presence in the global market.
