Lagos: Mr. Tiku Allu, Assistant Director at the Imports and Trade Relations Office, Trade and Exchange Department of the Central Bank of Nigeria (CBN), emphasized that expanding fair access to foreign exchange and trade finance is crucial for unlocking Nigeria’s export potential and enhancing regional commerce. Allu made these remarks at the 2026 Ecobank Nigeria’s Customer Forum on Tuesday.
According to News Agency of Nigeria, Allu highlighted that recent policy measures are aimed at ensuring transparency and expanding foreign exchange access across all market participant categories. “Our focus is to create a level playing field so access is not concentrated among a few large corporates. When access is broadened, the real sector feels the impact and trade expands,” he stated. Allu also pointed out that equitable allocation mechanisms bolster market confidence and enable small and medium-sized enterprises to engage more actively in cross-border trade.
Dr. Yemi Kale, Group Chief Economist and Managing Directo
r of Research and Trade Intelligence at African Export-Import Bank, underscored the necessity of improving access to affordable finance to enhance production and exports. “Access to finance is one of the most important costs of production. Improving the availability and affordability of financing will increase output, lower production costs, and support export growth,” Kale explained. He emphasized that credit expansion must be inclusive to deliver significant impact, noting that the reach of loans is crucial, especially for smaller firms.
In the context of payments, Mr. Robert Kotei, Operations Director for Africa at RIA Money Transfer, remarked that digital payments and remittance flows are becoming powerful enablers of intra-African trade. “Digitisation is fueling trade and economic growth across Africa. In Nigeria, nearly 80 percent of inflows now go directly into bank and digital accounts, reflecting a rapid shift in financial behavior,” Kotei observed. However, he noted that high transfer costs remain
a barrier to regional remittance flows, suggesting that reducing these costs could significantly boost regional trade and integration.
In the agribusiness sector, Alhaji Taiwo Ayoade, Deputy Managing Director of Agro Trader Group, called for a shift toward value addition and regional value chains. He highlighted the paradox of Africa producing raw materials but importing finished goods, which results in exporting jobs and industrial growth. Using cocoa production as an example, Ayoade noted that while West Africa dominates global supply, it processes only a small share locally. He urged policymakers to remove structural barriers to industrialization, such as import duties on manufacturing equipment, export levies, and high logistics costs, to boost regional trade.