Business

FCMB partners NEPC on export facilitation

Published

7 years ago

April 27, 2018

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First City Monument Bank FCMB has entered into a partnership with the Nigerian Export Promotion Council (NEPC) on non-oil export facilitation.

Speaking at the signing of the new Memorandum of Understand (MOU), the Regional Head, Abuja & North of FCMB, Mr. Lukman Mustapha, said the partnership is expected to further engage and build the capacity of exporters on new and emerging developments in the sector.

He reiterated FCMB’s commitment to empowering customers and other stakeholders involved in export trade.

“It further demonstrates how much we value their patronage and to inform the Market that we are seriously prepared to support the government and businesses in their efforts towards driving and growing export trade to boost non-oil revenue in Nigeria”

Speaking on the agreement Executive Director/Chief Executive Officer, NEPC, Mr. Olusegun Awolowo noted that the MOU with FCMB would go a long way to address the age-long challenge of access to finance that had been a nightmare to Nigerian exporters.

He, however, urged exporters to take advantage of the numerous opportunities offered by the NEPC and FCMB to grow their businesses.

The Nigerian government has continued to encourage the diversification of the nation’s revenue sources away from oil.

Nigerian Export Promotion Council NEPC was established through the promulgation of the Nigerian Export Promotion Decree No. 26 of 1976 and formally inaugurated in March, 1977.

It is charged with the responsibility of promoting non-oil export in Nigeria and position it as a key driver of the economy.

First City Merchant Bank was licensed in 1982, changed the name from First City Merchant Bank to First City Monument Bank in 2001, following its transformation to a universal bank and was listed on the Nigerian Stock Exchange in 2005.

Its share price currently trades at ₦2.50 on the Stock exchange as at today.