Nigeria hosts banking workshop

Bankers, bank employees and bank stakeholders from across the continent attended a banking services and Continental Free Trade Area (CFTA) consultation workshop Nov. 4 in Abuja.

The event was organized by the Department of Trade and Industry of the African Union Commission and the Federal Ministry of Industry, Trade and Investment of the Federal Republic of Nigeria.

Attendees were asked to give input on CFTA's draft report before its finalization. They also learned about the Action Plan for Boosting Intra African Trade and preparations for CFTA negotiations in Nigeria.

Nadir Merah of the Trade and Industry Directorate of the African Union Commission thanked the Nigerian government for conducting the recent Banking Services in Nigeria study and for organizing the workshop.

Merah pointed out that there is a lack of communication between public sector government and banks in the private sector.

“Raising awareness to overcome this 'perception gap' in Africa is critical at the continental level as well as at the sub-regional and national levels, where the incorporation of service sector development into mainstream economic planning and development priorities remains lagging,” he said.

Abubakar Aliyu, representing the executive secretary of the Federal Ministry of Industry, Trade and Investment, said using Nigeria as a case study was appropriate.

“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.