Access Bank Woos Onitsha Traders To Embrace FLOWS | Independent Newspapers Limited
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Access Bank Woos Onitsha Traders To Embrace FLOWS

Posted: Oct 12, 2015 at 6:35 pm   /   by   /   comments (0)

By Chukwujekwu Ilozue, Awka

Access Bank Plc last week carried second phrase of sensitizing the traders in the commercial city of Onitsha, Anambra state to embrace the new business solution tagged FLOWS, an acronym for Finance Logistics Worldwide Scheme designed to ease the stress of finance and logistics for importers.

FLOWS is a bank’s new product which the bank introduced in partnership with GMT Nigeria Limited, a worldwide logistics providers for fast clearing and delivery of their imported goods.

At the sensitization centre which attracted over 2,000 traders, mainly importers, exporters and distributors at Lumen Hotel and Suites, GRA, Onitsha, the Managing Director of Access bank, Herbert Wigwe told the audience that for now, apart from Guinness Nigeria Plc and Nigerian Bottling Company (NBC), the Access Bank is the only financial institution in the country that is partnering with GMT to make the FLOWS product a reality.

Wigwe who was represented by Iheanyi Nwogu, Group Head, Eastern Business Banking, Access Bank, told the traders that with FLOWS in action, importers would no longer incur the usual demurrage, suffer the bottleneck in the hands of customs men or transportation risks and delays in taking delivery of their imported goods.

He maintained that FLOWS makes the goods on transit arrive safely, faster and cheaper than going through clearing agents and hiring of private haulage vehicles.

He therefore urged the traders to take advantage of the new FLOWS product which Access bank launched in partnership with GMT company, the largest logistics company in the Sub-Saharan Africa to key into the modern international trading facilities.

Earlier, the bank’s Zonal Head of Business Banking in Anambra state, Ikenna Enekweizu and a top management staff of the bank from its Lagos Head office, Ejike Ugwu had taken time to interpret Wigwe’s explanations to the traders about the benefits of importing goods from America, Europe and Asia through FLOWS.

Enekweizu and Ugwu explained that the first step for an importer is to go to any of the 304 Access bank branches closest to them, open a letter of credit, fill a form and indicate the quantity and type of goods they wants to import and the manufacturers he wants to import the goods from, adding that it is the responsibility of the bank to liaise with GMT and give their customers quotation covering the value of the goods, the customs clearance and the logistics.

They noted that once the importer accepts the price and effect payment through Access bank, the bank would now liaise with GMT and accelerate FLOWS in motion by paying the manufacturer, gather the quantity of goods paid for, ship them to Nigeria, clear the goods at the wharf and deliver them expressly to the importer’s warehouse in any part of Nigeria of his base.

They challenged the traders to quantify the cost of their import processes before now and then try the FLOWS system to find out which is faster, cheaper and safer in terms of home delivery. They however noted that the Access bank/GMT FLOWS partnership does not undertake the importation of contraband goods.