Citibank Advocates for Enhanced Trade in West Africa

Citibank has called on West African leaders to deepen regional trade under the African Continental Free Trade Area (AfCFTA) during a high-level business symposium held in Lagos. The symposium, themed around broadening trade flow within West Africa, gathered senior public and private sector leaders from Nigeria, Ghana, and Côte d'Ivoire.

Deputy Governor of the Central Bank of Nigeria, Lamido Yuguda, emphasized the importance of efficient financial intermediaries in scaling intra-African trade and improving cross-border payment systems. Minister of State for Industry, John Owan Enoh, noted that AfCFTA presents significant opportunities for Nigeria to expand its industrial base and increase exports.

He urged African countries to focus on value-added products rather than raw materials. Citibank's Managing Director, Nneka Enwereji, stated that the bank is committed to providing practical financial solutions to empower clients in expanding their regional market access.

The discussions also highlighted the need for stronger regional cooperation to address non-tariff barriers and improve infrastructure.