StanChart Pledges More Support for Trade Financing


Standard-Chartered-Bank-140Standard Chartered Bank Nigeria Limited has promised to focus on trade financing in the country.

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The Managing Director/Chief Executive Officer, Standard Chartered Bank Nigeria, Mrs. Bola Adesola, said this during a recent business forum tagged: “Building a Conducive Environment for Trade and Investment,” organised by the bank.

“At Standard Chartered Bank, we pride ourselves as being the bank with a simple strategy to remain a “commercial” and not just a “financial” institution” where we don’t go after speculative lending, but rather we focus on Trade and forex by leveraging on our strong balance sheet.

“We strongly believe that as a bank, what will differentiate us in the long run is not only ‘what’ we do, but ‘how’ we do it. We are committed to building bridges of partnership that will support our clients and the communities in which we work, being mindful that their success will ultimately become ours,” a statement quoted Adesola to have said.

The event was organised to foster partnership  between the organised private sector and the government, wherein  both parties could work out sustainable solution to challenges impeding the achievement of a conducive environment for  business in Nigeria.

The guest speaker at the event was the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga.

Standard Chartered Bank was the lead bank in the recent $9 billion loan syndication for the Dangote Group for the construction of the biggest petrochemical and fertiliser plant in Nigeria. The project is expected to create about 9,500 jobs in the economy.

In his address, Aganga noted the role of governments globally was changing. According to Aganga, governments was meant to provide the enabling environment in terms of polices, regulation, the facilitation of competitive and investment-friendly business climate, creating favourable conditions for  growth and enterprise while ensuring macroeconomic and financial stability, which companies required to invest and plan for the  future.

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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