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AU Report on Nigeria banking services validated

05 November 2015, 12:11

Abuja - A workshop for the validation of the report on banking services and Continental Free Trade Area (CFTA) Consultation has been held in Abuja.

The Department of Trade and Industry of the African Union (AU) Commission and the Federal Ministry of Industry, Trade and Investment of Nigeria co-hosted the event various stakeholders in the banking services sector attended to review the findings of the draft report and contribute to its finalisation.

Representing the Trade and Industry Directorate of the AU Commission, Nadir Merah, Head of Trade Division, expressed his appreciation to Nigeria for the partnership and support in conducting the study on banking services in Nigeria and organising the workshop.

Also read: CBN extends BVN enrollment for diaspora bank customers

He commended the Government for the steps taken towards preparation for the CFTA negotiations and for the successful efforts towards diversification of the economy especially in development of the success sector.

Special appreciation was extended to the Joint Europe- Africa Support Mechanism (JEAS-SM) for the financial support in conducting of the study.

Abubakar Aliyu, on behalf of the Executive Secretary of the Federal Ministry of Industry, Trade and Investment, appreciated the AU Commission for choosing Nigeria as case study of successful services exporters of banking services.

“This study examines Nigeria’s trade in services policy context and in particular, the structure and performance of Nigeria’s banking sector with regards to the export of banking services,” he said

At the end of the validation workshop, he urged stakeholders to jointly agree on a clear cut and realistic Action Plan with agreed timelines towards the realization of a more viable banking sector in Nigeria expending to Africa and the world.

Representatives of Nigerian Central Bank, private banks, Insurance companies, Nigerian Chamber of Commerce, Economic Commission for West African States, West African Chamber of Commerce, Universities and other higher institutions of learning attended the workshop in Abuja.

- CAJ News


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