First Bank of Nigeria Plc has reiterated its commitment to supporting companies by implementing various programs meant to create a stable business climate and promote economic expansion.
According to the Times, this pledge was reaffirmed by Group Executive of Transaction Banking, Mrs. Olaitan Martins, during a conversation with proprietors of Fast-Moving Consumer Goods businesses on Wednesday in Lagos.
The purpose of the seminar was to give FMCG distributors in the Southwest area insights on business development tactics and ways to increase their income streams.
As part of the bank’s continuous efforts to actively engage and educate its clients on business development, she stressed that “the forum was important. She also acknowledged the crucial role that important distributors and principals had within the FMCG sector.
She stressed that “the needs of the bank’s customer, which consists of important distributors and prominent figures in Nigeria’s corporate scene and the necessity of assisting companies that boost the country’s economy by distributing fast-moving commodities.
She reaffirmed the bank’s commitment to helping its clients successfully navigate these obstacles and underlined the need of offering support to customers managing the inherent risks involved with commercial operations.
She further explained that “First Bank’s more than 130-year history in Nigeria and its critical role in the country’s economy and people’s daily lives.
“The distributor’s program is designed to help businesses by offering financing options, which in turn promotes economic expansion.”
Prior to this, FirstBank’s Group Head of Transaction Banking, Mobolade Ojeahere, emphasized the importance of the bank’s interaction with distributors given the volatility of currency rates.
He clarified that “in addition to getting input, the interactive session sought to find answers and turn obstacles into chances for development.”
Bank representatives clarified misconceptions about bank loans, showcased the institution’s range of products, and provided distributors with more information on how to take advantage of possibilities.
The talks also covered market trends in industries where fast-moving consumer goods have a significant impact. They also stressed the usefulness of digital solutions and the adoption of cashless transactions, particularly in the FMCG industry, which has a significant market share in Africa estimated at 41.78 billion dollars.
The panel answered questions concerning interest rates on different products and computations for different bank facilities. They also clarified product dynamics and addressed concerns regarding over-deductions. The audience received insightful guidance from the panel.
Following that, prizes were given to the Southwest region’s top-performing distributors in appreciation of their exceptional efforts.
