FAAN engages contractors, commercial banks for improved project financing


L-R: Jumoke Oni, General Manager, Operations; Honorious Anozie, Director of Human Resources & Administration; Engr Salisu Daura (Director of Engineering Services), Representing the Managing Director, Federal Airports Authority of Nigeria (FAAN) & Nike Aboderin, Director of Finance & Accounts at the dialogue between FAAN, Contractors and Commercial Banks aimed to enhance their operations in project financing on Tuesday in Lagos


Posted by Sade Williams


In a bid to encourage improved access to funding of contracts especially for Small and Medium Enterprises, the Federal Airports Authority of Nigeria (FAAN), has hosted contractors and commercial banks to a collaborative forum.


At an event, held at Radisson Hotel, Ikeja, Lagos on Tuesday December 12, 2018, the Managing Director of the Authority, who was represented by the Director of Engineering, Engr Nurudeen Daura noted that the forum is aimed at developing a financing mechanism which will optimize the cash flow of FAAN, while also providing the much needed support to our contractors, to enable them access opportunities for working capital enhancement.


According to him, ‘the scope involves working with selected financial institutions, in order to provide liquidity to our major contractors through direct and contingent funding’.


Stating that investment opportunities abound in the industry, especially FAAN, he encouraged the banks and contractors to take advantage of these opportunities through constructive partnership in the overall intesrest of all.


Also in attendance at the event were the Authority’s Director of Finance & Accounts, Mrs. Nike Aboderin, Director of Human Resources, Mr Anozie Honorius, representatives of First Bank Plc, FCMB, Fidelity Bank, Union Bank, Zenith Bank, Access Bank, Polaris Bank, Tam Tam Nig Ltd, Inland Chips Nig Ltd, Pencks Ltd, amongst others.

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