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Thursday, November 21, 2019 / 3:32 PM / FBNQuest / Header Image Credit: The Guardian
FBNQuest
Merchant Bank, the investment banking and asset management business of FBN
Holdings Plc, has been approved by the Nigeria Customs Service as a
merchant bank in Nigeria authorised for the collection of customs duties and
taxes. This development validates the Bank's reputation for excellent service
delivery and efficient processing of
international transactions through its Trade Services platform.
The
joint agreement with the Nigeria Customs, and the full integration process with
the Bank's payment application system will ensure that businesses now have
access to further enhanced turnaround for Form M customs duty related transactions,
end-to-end import processes, as well as shipping document endorsement, delivery
and collection.
Commenting
on the development, Bimbola Wright, Head of Coverage and Corporate Banking at
FBNQuest Merchant Bank said; "In our continued effort to make our service
offering more robust, seamless and convenient for our customers, we constantly innovate and introduce value adding
solutions to facilitate the international trade activities and requirements of our clients. Being the first merchant bank
in Nigeria to be authorised for custom duties collection is a development we are
very proud of, and we are excited to further expand the scope of support we provide our customers.
The
trade services business within FBNQuest Merchant Bank is responsible for delivering
international trade and related
solutions, by collaborating with the Coverage
and Corporate Banking arm of the institution. The Bank is also set to fully
implement its Trade Information System early next year, which will serve as a
hub for end to end execution of customers trade transactions.
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