The Nigerian Indonesian Chamber of Commerce and Industry (NICCI) has called for innovative and inclusive financial systems to strengthen bilateral trade and unlock sustainable economic growth between Nigeria and Indonesia.

The call was made during the Chamber’s April 2026 Bi-Monthly Meeting held at the Nigerian Institute of International Affairs (NIIA) in Lagos.

The high-level gathering brought together policymakers, financial institutions, investors, private sector leaders, and members of the diplomatic community to discuss sustainable economic growth through innovative banking and financing models.

Speaking at the event, Chairman of the NICCI Trade Mission, Adesina Osinoiki, stressed the importance of sustained collaboration in advancing economic relations between both countries.

He highlighted the growing role of innovation in shaping financial systems and promoting inclusive growth across emerging economies.

In his welcome address, NICCI President Ishmael Balogun, said financing must evolve beyond a transactional function into a strategic tool capable of driving development, productivity, and diplomacy.

According to him, there is an urgent need to move away from traditional collateral-based lending toward market-driven financing models that support innovation and long-term value creation.

Delivering the keynote address, Indonesia’s Ambassador to Nigeria, Bambang Suharto, highlighted the critical role of Micro, Small and Medium Enterprises (MSMEs) in Indonesia’s economy, noting that the sector contributes over 60 per cent of the country’s Gross Domestic Product.

He also emphasised the importance of digital financial systems and cross-border payment integration in improving financial inclusion and strengthening trade ties between Nigeria and Indonesia.

Several financial and investment institutions delivered presentations at the event, including The Alternative Bank, Flutterwave, NEXIM Bank, Tyro Group, BGL Capital, and Sewa Capital.

Executive Director, Commercial and Institutional Banking at The Alternative Bank, Korede Demola-Adeniyi, explained how non-interest banking models can support SME development through ethical and asset-backed financing structures.

Flutterwave’s Head of Global Expansion and Payment Partnerships, Mayokun Owolabi, showcased the company’s efforts in simplifying cross-border payments and supporting Africa’s digital economy through a unified payment infrastructure.

Managing Director of Sewa Capital, Angela Jide-Jones, stressed that emerging markets require the “right kind of capital,” advocating innovative capital market solutions capable of supporting businesses at different growth stages.

Also speaking, Principal Manager of Business Development at NEXIM Bank, Folasade Aluko, reiterated the bank’s commitment to supporting non-oil exports through financing, guarantees, and advisory services.

Group Managing Director of Tyro Group, Osaro Abusomwan, highlighted the need for patient capital, stronger governance frameworks, and structured investments to drive industrial growth in sectors such as manufacturing, mining, and energy.

Representing BGL Capital, Vice President Chuka Nweze revealed that trade volume between Nigeria and Indonesia rose from $1.9 billion in 2020 to $6 billion in 2023, while proposing SME-focused investment vehicles and export credit systems to deepen bilateral trade.

Panel discussions during the meeting focused on fintech, digital banking, sustainable lending, and public-private collaboration in building a more resilient financial ecosystem.

The session was moderated by Chairman of the NICCI Communications Committee, Joshua Daranijo, and featured representatives from several participating institutions.

The event also featured the induction of new member companies into the Chamber, led by Chairman of the NICCI Membership Committee, Giorgio Del Celo.

In another highlight, NICCI formally introduced its 10 standing committees, with committee heads presented certificates of recognition as part of efforts to strengthen the Chamber’s governance structure and sector-focused engagements.

The meeting concluded with a vote of thanks delivered by Kemi Ajisebutu, Chief Executive Officer of AYP Consulting and a Director on the NICCI Board, who commended participants and stakeholders for their contributions toward advancing economic cooperation between both countries.

Participants at the event unanimously called for stronger collaboration among governments, financial institutions, and the private sector to develop innovative financial solutions capable of transforming Nigeria-Indonesia trade relations into a major driver of economic development.

 

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