Corporate and investment banking firm Rand Merchant Bank (RMB) Nigeria has declared its support for President Bola Tinubu’s economic reforms, saying they are crucial for stimulating trade and investment across West Africa.
This endorsement was made during the Global Trade Review (GTR) West Africa 2025 Conference recently held in Lagos. Speaking at a panel titled “Ghana, Nigeria and Beyond: Assessing Trade Prospects”, the Head of Treasury and Trade Solutions at RMB Nigeria, Oluwaseyi Onanuga, described Nigeria’s ongoing reforms—including the removal of fuel subsidies and liberalisation of the foreign exchange market—as key foundations for restoring macroeconomic stability and reviving investor confidence.
Onanuga noted, “The robust economic reforms initiated by Nigeria’s current administration are commendable steps towards advancing the economy.” He also praised the Central Bank of Nigeria’s efforts in restructuring the financial sector, which he believes are strategic moves to protect the economy and strengthen investor trust.
The GTR West Africa 2025 Conference, themed “Financing Growth in West Africa’s Trade Epicentre”, brought together over 45 regional and international speakers for two days of panel sessions, networking, and discussions on trade finance and policy. The event focused on the roles of financial institutions, government policy, and infrastructure in unlocking the region’s trade potential.
RMB Nigeria used the platform to express optimism about intra-African trade growth under the African Continental Free Trade Area (AfCFTA). The bank pointed out that better regulatory frameworks and improved payment infrastructure would play a major role in reducing trade barriers and encouraging broader participation in the regional economy.
“We expect stronger intra-African commerce, supported by enhancements to payment-settlement systems and regulatory frameworks,” Onanuga said. “These improvements will reduce transaction costs, concentration risk, and entry barriers, fostering a more inclusive and resilient trade ecosystem.”
Meanwhile, RMB Nigeria’s role in corporate finance and investment advisory continues to attract industry recognition. The bank was recently honoured by DealMakers AFRICA for leading the advisory process in CardinalStone Partners’ exit from iFitness to private equity firm Verod Capital Management.
