Yemisi Izuora
Experts from global multilateral financial institutions would be converging at
the 2022 edition of the Finance Correspondents Association of Nigeria (FICAN) annual conference to examine various options available for : “Boosting Domestic Capacity for Sustainable Export Earnings”.
The conference is scheduled to hold on Saturday 17th and Sunday 18th September, 2022 and will also bring together public and private sector players in Nigeria, to assess those opportunities.
The Central Bank of Nigeria (CBN) has, over time, evolved policy measures to achieve efficient management of available Foreign Exchange (forex) in a way that would not undermine the domestic economy.
While some reasonable results have been achieved on the demand side, the supply side has remained the challenge.
According to the Association, Policy initiatives targeted at boosting forex supply have, most often, recorded limited results while the nation’s reserves bear the brunt as pressure mounts on the local currency, the Naira.
“Stakeholders therefore believe that reversing the nation’s weak productive capacity is the way out of this quagmire.
“It is against this background that the RT200 FX programme introduced by the CBN to stimulate domestic production towards enhanced non-oil forex earnings becomes imperative,” the statement read in part.
The conference will be attended by over 150 finance journalists and business editors, covering money market, capital market, SMEs and the insurance industry – from the print, online and electronic media platforms
FICAN has listed some institutions as major sponsors. They are: the Nigeria Sovereign Investment Authority (NSIA), Nigeria Export Import (NEXIM) Bank, Heritage Bank, United Bank for Africa (UBA),Bank of Industry (BOI), Sterling Bank, Development Bank of Nigeria (DBN), Securities and Exchange Commission (SEC), the Assets Management Corporation of Nigeria (AMCON), Strategic Effects Limited, First City Monument Bank, Polaris Bank, Wema Bank, Sparkle Nigeria among others.
Managing Director, Fidelity Bank Mrs Nneka Onyeali-Ikpe, is expected to be the keynote speaker of the forum while the Managing Director Heritage Bank Limited Mr. Ifie Sekibo will be the Guest speaker.
They will also be joined by top industry professionals from : The Nigerian Shippers Council, Standard Organization of Nigeria (SON), NEXIM Bank, Nigerian Ports Authority (NPA), Nigeria Customs Service (NCS), the Central Bank of Nigeria (CBN), the SEC, Bank of Industry (BOI) and the Manufacturers Association of Nigeria (MAN), including Alhaji Adeniji Adeyemi, Chairman Starlink Nigeria Limited a major exporter of Cocoa product.
During the programme, these bankers, relevant government agencies, handling companies and manufacturers will be engaged in a panel discussion on challenges facing Nigeria’s local productive capacity for foreign exchange earnings and ways of eliminating them.
Panelists and media interactive session on will center on issues arising from the CBN Director of Development Finance speech; Keynote Speaker’s remarks,
and the following sub-themes: Effective Implementation of the CBN RT 200 FX Programme,Role of Standardization in Nigeria’s Non-oil Export and Addressing Impediments to Commodity Exports.
FICAN’s annual conference is also a learning platform designed to enhance awareness, deepen understanding of financial journalists on the role of stakeholders on various finance and economic policy initiatives.