ECOWAS

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CBN now to allocate forex to end users

CBN now to allocate forex to end users

ABUJA—The Central Bank of Nigeria, CBN, is now to allocate foreign exchange to end-users, with priority given to matured Letters of Credit, importation of petroleum products, raw materials and machinery. This is in a bid to effectively manage the nation’s depleted foreign reserves.

MSMEs decry inability to participate 2013 ECOWAS trade fair

MSMEs decry inability to participate 2013 ECOWAS trade fair

The Micro, Small and Medium Enterprises, under the auspices of Association of Micro Entrepreneurs of Nigeria (AMEN), has decried its inability to participate at 2013 Economic Community of West African States, ECOWAS trade fair, held in Togo, blaming it on finance. Recall that the association was selected by the Nigeria Export Promotion Council, NEPC to represent the country. Speaking at a business forum/ inauguration of AMEN Cooperative, President AMEN, Prince Saviour Iche, described the ongoing submission of business proposals to the Bank of Industry (BOI) through SMEDAN as a welcome development, saying, “ but our members may not be able to access the fund due to stringent requirements and conditions attached to it. We are proposing to meet the management for the way forward.

ECOWAS bank to understudy BoI on project financing

ECOWAS bank to understudy BoI on project financing

The leaders of Economic Community of West African States, ECOWAS Bank for Investment and Development, EBID, Togo, are to understudy Nigeria’s Bank of Industry’s success on project financing.

Nigeria seeks NEXIM’s support on ECOWAS  trade

Nigeria seeks NEXIM’s support on ECOWAS trade

The Federal Government has asked the Board of the Nigeria Export-Import Bank (NEXIM) to support Nigeria in maintaining its leading position as the powerhouse in regional trade in West Africa.

ECOWAS calls extra-ordinary summit on regional integration

ECOWAS calls extra-ordinary summit on regional integration

ECOWAS leaders are to meet in Dakar, Senegal in October in an extraordinary session to decide on three issues critical to the financial health of the region – the Common External Tariff (CET), the Community Levy and the lingering Economic Partnership Agreement (EPA) negotiations with the European Union (EU).