The First Tinapa Trade Expo which held in Calabar. Kunle Oladosu, Head Trade, who represented the GMD, presented to stakeholders at
the event a paper entitled Trade Development and Export Free Zones in Nigeria: The Role of Customs and Immigration Services (Tinapa as a Case
Study).
He noted that as one of the biggest Trade banks in Nigeria, UBA is in a position of strength to intermediate trade transactions from end to end for
counterparties doing business within and outside the free zone, and has diverse banking products to facilitate trade, provide working capital optimization
solutions and also diverse cash management solutions to ensure that all the banking needs. He said, “On our own part, UBA is well positioned to
intermediate trade flows for the Zone approved enterprises and also for companies in the trade territories. Our position as a key trade bank and
our presence in 8 African countries puts us ahead of competition as a trade bank to work with. We have a branch in Tinapa that can process
imports and exports for Approved Enterprises in the Free Trade Zone.”
Oladosu, who noted that there are currently 22 Free Zones in Nigeria with Calabar Free Zone being the first (established in 1992), said that
Free Trade zones are set up globally as part of the reform of governments to diversify the export base of the country, create employment, achieve technology transfer, reduce bureaucracy and pilot new initiatives, and that their success depend on the commitment of government at the most senior level to remove obstacles and ensure that issues are addressed promptly. “ It is pleasing to note that there is commitment to Tinapa at very senior level of Federal Government and State Government; the Nigerian Customs, Immigrations and the other parastatals to ensure that Tinapa succeeds and the right signal is sent to international Investors that have invested in Tinapa,” He said.
