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NG Clearing Participates at the International Cocoa and Chocolate Forum

On Thursday, January 11, 2024, our MD/CEO Designate, Farooq Oreagba, played a pivotal role at the International Cocoa and Chocolate Forum held in Lagos. The forum was founded by HRM Oba Dokun Thompson, The Oloni of Eti-Oni, Osun State, to bring together industry leaders and experts to discuss critical aspects of the Cocoa value chain.

Farooq Oreagba shared a distinguished panel with key figures such as Otunba Bimbola Ashiru, The Chairman of Odu’a Investment Company LimitedSTELLA OKOTETE, Executive Director of Business Development at Nigerian Export-Import Bank – NEXIM, a representative of Aisha Rimi, The CEO of the Nigerian Investment Promotion Commission (NIPC), and a representative of Moruf Oseni, the Managing Director of Wema Bank Plc.

During the panel discussion, Farooq Oreagba addressed the multifaceted challenges and promising opportunities inherent in the cocoa industry, emphasizing the need for collaborative efforts to enhance the entire value chain. One notable aspect of his contribution was shedding light on the implementation of central warehouse receipt systems. He highlighted how such systems could significantly contribute to facilitating trade and streamlining the exchange process for stakeholders in the Cocoa industry.

This engagement with the Cocoa community holds particular significance for us as we are currently gearing up for the introduction of commodity futures in partnership with AFEX Exchange. Cocoa is a key commodity slated for futures trading. This engagement strengthens our ties with key players in the Cocoa industry and will facilitate the easy integration of Cocoa Futures Trading.

As we move closer to the introduction of Commodity Futures, we will have more of these strategic discussions and collaborations with various commodity stakeholders.

Here are some pictures from the forum.