3rd annual conference on Treasury, Risk and Cash ...

3rd annual conference on

WEST AFRICA

16?17 February 2010 Eko Hotel & Suites, Kuramo Waters,

Victoria Island, Lagos, Nigeria

Treasury, Risk and Cash Management in West Africa

Establishing a better business order across West Africa

What's new for 2010?

The crisis ? lessons learned and the impact on your business

Financing trade in a tricky economic environment

Corporate governance ? how regional regulators and international bodies are co-operating

Update on everyday corporate money management

The drive towards ECOWAS region rules

Review of counterparty risk and compliance

Latest on the implemetation of the Nigeria Central Switch

Outlook for regional interconnectivity and interoperability of funds transfers

Keynote speaker

Mallam Sanusi Lamido Sanusi Governor, Central Bank of Nigeria

PLUS pre-conference training

Understanding Corporate Treasury See inside for details

Register and pay by Friday 15 January 2010 for major discounts

Official lead sponsor Official sponsors

Global sponsor

In association with

About the conference

Just as normality seemed to be starting to return, West Africa was rocked in late 2009 by revelations of fault lines in the foundations of some Nigerian banks. But a better business environment could well emerge from the turmoil.

Join international and regional thought leaders at EuroFinance West Africa 2010 in examining the sources of the cracks in these banks and looking at lessons learned and implications for the future. Delegates will be able to share concerns and experience about how scarcity and costliness of credit have been compounded as a result of the crisis, and consider possible ways forward. They will review repercussions on counterparty due diligence, corporate governance and regulation.

Our audience will hear from finance chiefs of regional companies on how they are overcoming the current challenges and capitalising on opportunities. MNC treasury, financial risk, trade finance and cash managers will share thoughts on implementing world class practices, despite the constraints of trying to comply with sometimes conflicting standards. Be it bigger picture issues, or the nuts and bolts of everyday corporate money management, our delegates will look at wide-ranging areas of common interest.

What's new for 2010

The crisis ? lessons learned and the impact on your business Financing trade in a tricky economic environment Corporate governance ? how regional regulators and international bodies are co-operating Update on everyday corporate money management The drive towards ECOWAS region rules Review of counterparty risk and compliance Latest on the implementation of the Nigeria Central Switch Outlook for regional interconnectivity and interoperability of funds transfers

Why should you attend?

Update on the current and future issues in treasury, risk and cash management Put your questions to our expert panel of speakers Hear real-life, tried and tested treasury solutions Engage in lively debate with over 300 of your peers Gain insights and solutions that will give you a competitive advantage Hear from leading international and regional corporations Learn the latest advances in cash management technology Meet face-to-face with the leading suppliers and service providers

Who will you meet?

The conference is designed for finance and treasury professionals working within, or responsible for, corporations in West Africa. It is also open to bankers, professional advisers and other service providers operating in the corporate cash management market.

EuroFinance

Where the global treasury community meets EuroFinance is the leading global provider of conferences, training and research on cash management, treasury and risk. Running more than 50 events worldwide, EuroFinance enables treasurers and CFOs to exchange innovative strategies, best practice and expert opinion. Through its in-depth research with over 2,000 corporate treasurers every year, EuroFinance has a unique insight into the trends and developments in cash management and treasury, and an unrivalled global viewpoint. EuroFinance is an Economist Group business.

Pre-conference training

Understanding Corporate Treasury

Introductory level: This intensive one-day course is specifically designed for those with little or no knowledge or experience of corporate treasury. Learning objectives: The course will cover the role, purpose, structure and activities of corporate treasury so that attendees will go away with a fundamental understanding of the treasury function, the terminology used and how and why it operates.

Course tutor

Peter Green, Senior EuroFinance Tutor; and Director, , UK

Monday 15 February 2010

08:30 REGISTRATION AND REFRESHMENTS

09:00 The role and scope of corporate treasury

This opening session will examine the organisation, structure and tasks of the treasury function in a large corporation. ? Typical models ? Treasury centres ? Treasury policy ? Bank relationships ? Working capital management ? Cash and liquidity management ? Investments ? short/long-term ? Risk management ? interest rates and foreign exchange ? Funding the organisation ? Link with corporate finance ? Profiting from treasury ? profit centre vs. support function

10:30 REFRESHMENT BREAK

11:00

12:30

Banking services and relationships

This session will examine the services that banks provide, why not all banks are the same, and how to get the best out of your bank relationships. ? Bank accounts and their uses ? Value dating and float ? Interest and bank charges ? Payment systems ? domestic and international ? Electronic banking products ? Additional and overseas services ? Selecting a bank ? Multi-bank relationships

LUNCH

13:30

Cash and liquidity management

Sharp control of liquidity provides the flexibility that an efficient organisation needs over its financing requirements, and allows the utilisation of cash to be optimised. ? Why liquidity matters so much ? Liquidity's influence on other aspects of finance and the business ? Common liquidity management techniques ? pooling and concentration ? Where to put your cash ? Risk, reward and the yield curve

14:30 15:10

The day-to-day cash management routine This session shows how efficient procedures should be established to monitor and control the movement of funds and timing of transactions to avoid hasty, unprofitable and contradictory actions.

? Establishing the daily cash position ? Reconciling position to the forecast ? How the FX and money markets work ? Funding and investment ? Influence of time zones ? Managing liquidity ? Meeting deadlines ? Reporting and controls

REFRESHMENT BREAK

15:40 17:10

Issues of risk management This session will examine the common types of risks faced, how they should be assessed and how they can be controlled.

? The scope of risk assessment ? Internal and external risk ? Financial risk to Profit and Loss and Balance Sheet ? Foreign exchange risk ? Interest rate risk ? Commodity risk ? Credit and counterparty risk ? Natural hedges ? Common hedging instruments

WRAP UP SESSION, COURSE DEBRIEF AND PRESENTATION OF CERTIFICATES

Earn up to 7 CPE credits Programme level: intermediate

Delivery method: group-live No prerequisites or advanced preparation required

EuroFinance is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417; Website:

For more information regarding refund, complaint and cancellation policies, contact EuroFinance on +44 (0)20 7576 8555.

training

Day 1 Conference sessions

08:00 REGISTRATION, REFRESHMENTS AND EXHIBITION OPENS

08:50 Chair's welcome Peter Green, Senior EuroFinance Tutor; and Director, , UK

09:00

Keynote speaker

The keys to economic security Both the public and private sectors in West Africa are overly dependent on revenue from one particular commodity: oil. As oil prices go from boom to bust, it is time to re-examine the opportunities from diversification of the industrial portfolio. The financial impact on budgets and the balance of payments has left government and industry leaders looking beyond the energy sector for new revenue streams to enhance economic security. What, if anything, can ECOWAS, the Economic Community of West African States, do to help mitigate economic shocks such as those caused by the recent slump? Emeka Emuwa, Managing Director, Citibank Nigeria David Cowan, Director, Africa Economist, Citi

09:40

Expert speaker

One ECOWAS region, many different countries Regional regulatory cross-fertilisation and co-operation should boost growth ? so how close is ECOWAS towards full realisation of its objectives? Hear the latest on harmonising customs documents; liberalising trade and removing regional tariffs; establishing common external tariffs; launching ECOWAS travellers' cheques; introducing a common currency and complementary payments policies and infrastructure; and standardising economic and financial policies? Can ECOWAS provisions help support shared service centres? What more could be done? And what are the lessons to be learned from Afrique de l'Ouest, the group of ECOWAS nations that share a common currency? Dr Temitope W. Oshikoya, PhD, FCIB, Director General / CEO, West African Monetary Institute (WAMI), Ghana

10:20 REFRESHMENT BREAK

10:50

Expert speaker

Towards all round corporate governance best practice ECOWAS-based treasury professionals are eager to adopt international best practice. There is no shortage of international standards to which West African businesses can look for guidelines, ranging from the Sarbanes-Oxley Act, international financial reporting and auditing standards, and the US Foreign and Corrupt Practices Act. How robust and regionally relevant are they? And do you have to consign traditional corporate practices to history? Fabian Ajogwu, Managing Partner, Kenna & Associates (Senior Lecturer, Business Law, Lagos Business School, Pan-African University), Nigeria

11:30

Expert speaker

12:10

The role of the ratings agencies in West Africa Lessons learned from Nigeria's banking crisis. Why did rating agencies apparently fail to anticipate the crisis which resulted in the Central Bank of Nigeria seizing control of a number of local banks that were teetering on the brink of insolvency. Could the banks have been downgraded beforehand? What is the role ratings agencies play across ECOWAS, and what needs to be done to ensure timely and effective reports and analysis of the banks in the region. Konrad Reuss, Managing Director, Standard & Poor's South Africa and Sub-Saharan Africa

LUNCH

13:40

Panel session

Counterparties and compliance ? time for review These days it pays to take a second look at everyone you deal with in business ? from service providers to clients, creditors and debtors, and even familiar colleagues ? to ensure that they understand financial risk management practices and regulations and are complying with them. How can you satisfy yourself that your counterparties' dealings are all above board? What do you do if you suspect someone is operating without due care and attention, or even deliberately engaging in sharp practice or fraud? And when should you pull the plug on a relationship, even if it is painful to do so? Moderated by: Peter Green, Senior EuroFinance Tutor; and Director, , UK Panellists include: Patrick Udoye, Treasury Manager, Michelin Tyre Services Company Limited, Lagos, Nigeria Layo Yusuf, Head of Treasury & Risk, British American Tobacco, Nigeria Akin Dada, General Manager & Head, Energy, Citi Remi Oni, Head Local Corporate Origination and Client Coverage, Standard Chartered Bank

Tuesday 16 February 2010

14:30

Expert speaker

Rolling out the national switch ? and how it will integrate with SWIFT Take a look at the state of the Nigeria Central Switch system designed to transfer payment messages around the country. What is the story so far on national inter-bank payment and settlement network operator, Nigeria Inter-Bank Settlement System, otherwise known as NIBSS? Our review of the outlook for interconnectivity and interoperability of electronic funds transfer switches within Nigeria will help treasurers get up to speed on how central switch implementation can create a more efficient national payments infrastructure. How can the switch support integration of Nigerian retail payments into the West African Monetary Zone retail payments platform? What should switch deployment mean for the economic development and growth of Nigeria? And how will it connect with SWIFT? O. Paul Lawal (FCA), Managing Director / CEO, Nigeria Inter-Bank Settlement System Plc

15:10 REFRESHMENT BREAK

15:40

Case study

The road to electronic funds transfers is paved with good intentions Eager to embrace opportunities for transferring funds electronically, some West Africa-based firms have cast aside cheques and cash. Then they find they have to re-embrace paper, or be penalised for a lack of corresponding hard copy receipts. We will look at electronic funds transfer road blocks, and fast-tracks. Layo Yusuf, Head of Treasury & Risk, British American Tobacco, Nigeria

16:20

Case study

Paying your way Your organization makes money in both local and foreign currency and from this you pay bills, salaries, taxes and other overheads, all of which should go relatively smoothly. But are there still invisible cogs in your payments machine? Could you be paying more and spending more time than you should, simply because your procedures and partners are not in tune with the most cost-effective means of getting money from A to B more quickly? How can you reappraise your payments approach and take transaction dynamics to the next level? Adegboyega Adegoke, Group Treasury & Credit Manager Nigeria & Gulf of Guinea Africa, Schlumberger, Nigeria

17:00 Adjourn to the Treasury Networking Reception Sponsored by Standard Chartered Bank and EuroFinance

Treasury Networking Reception Open to all delegates

Join us at the end of the conference on Day One for the Treasury Networking Reception. Relax with fellow treasury and finance professionals plus speakers and exhibitors.

For programme and speaker updates visit conferences

Day 2 Conference sessions

Wednesday 17 February 2010

08:00 REFRESHMENTS AND EXHIBITION OPENS

09:00 Chair's welcome to Day 2 Peter Green, Senior EuroFinance Tutor; and Director, , UK

09:10

Central Bank update

Financial system fallout in West Africa Just as global banking was getting back on track in 2009, the Central Bank of Nigeria undertook a review of its own financial institutions. While many have been given a clean bill of health, others are being supported financially or have even had management changes imposed on them. The solvency of some Nigerian banks has been impacted by financial market volatility, excess credit, questionable collateral, unreliable financials and wavering market confidence. What will be the medium and long-term impact of the Central Bank of Nigeria's intervention, on the sector and on the banks' commercial sector clients? What has been learned about good governance and the role of the board and regulators? And what are the disciplines that banks need to instill to enhance focus on the risks that can lead to systemic issues? Mallam Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria

09:40

Case study

Financing trade in a tricky economic environment How can you better capitalise on anticipated revenues to get the right amount of credit at the right price? Who is exploiting letters of credit, open accounts, bank guarantees and documentary collections? Could export credit agencies help out? Roland Ebelt, Managing Director, Nigerian Bottling Company PLC, Nigeria

10:20 REFRESHMENT BREAK

10:50

Case study

Working capital adequacy and judicious management When the world tightens its belt, everyone feels the working-capital pinch. This includes those so far from the epicentre of major market storms that they may be tempted to believe they can escape the ripple effects. How do you handle the kind of working capital crises such turbulence can cause? Who has been most inventive at managing working capital? Olubusola Abatan, Corporate Finance Manager, MTN Nigeria

11:30

Case study

Investment opportunities for West Africa's cash-rich companies What do West Africa's treasurers do when they have spare cash awaiting repatriation or investment in expansion and development? Could they be putting surplus funds to better use? Review corporate risk and reward appetites and how these relate to short to longer term investment options. Who can help you identify the most interesting opportunities? Do you need to reprioritise due diligence and monitoring processes? Can you keep your investments compliant with local and international regulations? How do you manage conflicting global and local pressures? Ijeoma Onwuegbule, Head of Treasury, Nigeria NLG Ltd

12:10 LUNCH

13:40 Taking the treasury industry temperature Interactive Make your voice heard on the issues that treasury professionals are

voting talking about. This session offers delegates a chance to air their opinions via EuroFinance's electronic polling system. From bank performance, through to technological innovation and risk mitigation, treasury industry players have their own points of view and this is your opportunity to express them. What are your opinions, and how do they compare with those of your peers in West Africa? We will also benchmark your answers against our audiences polled at different events globally, so you can learn what your international peers are thinking and talking about. Peter Green, Senior EuroFinance Tutor; and Director, , UK

14:30

Case study

Room for a better view of cash flows ? nationally, regionally and globally Instructions go out and reports come back, but do you really have all the data you need at any given time about your cash flow? How is the inexorable international drive towards real time comprehensive cash flow visibility panning out in West Africa? What initiatives have been implemented, or are on the horizon, that will give ECOWAS treasury professionals more confidence that their cash is where it should be, when it should be and when it should be? Are there still blind spots in your cash flow? Are you struggling to track payments? What solutions will allow you to identify any money lying idle and help unclog blockages in cash conduits? Richard Till, Finance Manager, West Africa, Procter & Gamble Emeka Okonkwo, General Manager & Head, Commercial Banking, Citi

15:10 REFRESHMENT BREAK

15:40

Case study

A regulatory view on foreign investment in Nigeria and the repatriation of returns What do you do when monies are due for imported materials and equipment, or for services provided by firms based overseas, or profits have to be repatriated? Could there be a quicker, less convoluted and costly means of moving money beyond West African borders? How can you adhere to national requirements while satisfying corporate demands elsewhere? Is easier access to the most sophisticated innovative solutions on the horizon? How are regulators and service providers facilitating world class ways of pushing the money envelope across borders? Alhaji B. Musa, Director, Trade and Exchange Department, Central Bank of Nigeria

16:20

Case study

Don't let inter-weaving taxation systems tie you up in financial knots How do you turn taxation shades of grey into black and white, while paring down documentation and exploiting all possible tax efficiencies and concessions? Are you sure you have complied with all state, national and international tax requirements, without paying too much or too little, too soon or too late? Avoid making duplicate payments by ensuring that everyone has the right data. If you do overpay, how quickly and easily can you get your money back? And if you underpay, what are the penalties? It's important to keep the tax authorities happy about your pricing and documenting of assets, services, and funds transferred across borders between parent and subsidiary, but how do you convince officials that your group is not merely setting transfer prices at a rate designed simply to reduce your taxable profits? Mr. Tunde Fowler, The Executive Chairman, Lagos State Board of Internal Revenue, Lagos State Kehinde Durosinmi-Etti ? Deputy Managing Director, Skye Bank Plc, Nigeria

17:00

Expert speaker

Risk management ? take it to the limit If the events of 08/09 have taught us anything, it is that risk management matters ? and a lot more than some people previously found it convenient to believe. So how can your company tighten up on the policies, procedures, documentary controls ? even attitudes ? that help create effective financial risk management? Take out costly, time-consuming, labour-intensive processes that are more red tape than risk management, and replace them with robust risk identification, measurement, monitoring and mitigation practices that no one can undermine ? and ensure everyone is held to account. Titilayomi Ahmadu, Managing Partner, TAPS Professionals, Nigeria

17:30 Conference closes

2009?2010

Featuring NERVES OF STEEL

Microsoft shows its treasury mettle THE CHINESE ADVENTURE Chinese companies venture abroad TRADE TREASURE HUNT Digging for cash in trade finance

Treasury in a world of surprises

You can't avoid all the nasties, but here are strategies to keep your treasury prepared

Treasury Perspectives, the magazine focusing on trends and initiatives to keep you in tune, in touch and on target with treasury strategy, processes and innovations.

Visit to download

Register and pay by Friday 15 January 2010 for major discounts

Sponsor biographies

Official lead sponsor

Citi has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management.

Corporations have voted Citi as the Lead Domestic Cash Management Bank in Nigeria in 2009, in the Euromoney Cash Management poll. Among many others, Citi has been awarded the prestigious Euromoney Excellence Award as Best Global Cash Management Bank in Africa in 2009, the Global Finance Best Supply Chain Finance Bank in Africa and the Best Internet Bank in 2008.

Citi's African network spans 16 countries. An additional 23 countries are covered through a non-presence country unit based in Johannesburg. With a solid history and leveraging our global products and technology strengths, Citi is well positioned to provide a wide range of cash management, trade, treasury, working capital, corporate finance and investment banking solutions to local, regional and multinational clients across the region.

We will be happy to discuss with you about your company's Cash and Treasury Management needs during EuroFinance West Africa conference.

Munir S. Nanji Global Transaction Services Head Nigeria & West Africa, Africa Trade Head +234 (1) 279 8413 or 463 8400 ext.8413 munir.nanji@

Emmanuel Umukoro Cash Management Head Nigeria +234 (1) 279 8567 or 463 8400 ext.8567 emmanuel.umukoro@

Official sponsors

Committing our expertise to power your ambition

With an extensive network that spans over 70 countries, well-positioned in the emerging trade and investment corridors across Asia, Africa and the Middle East, Standard Chartered's Wholesale Banking division combines global capabilities with deep local knowledge to develop innovative products and services to meet the diverse and everchanging needs of our corporate and institutional customers in some of the world's most exciting and dynamic markets.

Building on a rich banking heritage of over 150 years, Standard Chartered Bank is noted for a client relationship-focused approach to business, unmatched on-the-ground expertise and a solid track record of innovative, award-winning Financial Markets and Transaction Banking solutions, reflecting our continued commitment to power our clients' ambitions. Our broad spectrum of capabilities include Treasury and Risk Management, Transaction Banking, Financial Markets, Corporate Finance, Principal Finance, and Electronic Channels and Solutions.

Skye Bank is a leading Nigerian bank, founded on the core values of integrity and time-tested conservatism, mutual respect, accessibility and continuous learning; offering excellent banking services to customers locally and in three West African countries.

A market leader in E-channels and revenue collection businesses, with presence in over 250 locations, aided by over 700 ATMs in Nigeria, Skye Bank has strong market share in real estate, corporate banking, retail banking, investment banking and structured finance.

The Bank is managed by core professionals with over 250 years of cumulative, quality financial service sector experience. It has a robust enterprise-wide risk management structure, placing a huge premium on transparency and best-practice corporate governance.

An attestation of the bank's top-quality management, good profitability, asset quality, good market position, and sound funding and liquidity, was highlighted by globally-acclaimed rating agency, Standard & Poor's, and foremost local rating firms, Augusto & Co. and GCR.

Exhibitors

Global sponsor

In association with

Official publication

Media partners

Sponsorship and exhibition opportunities There is a limited number of sponsorship and exhibition opportunities available. If you have products to offer corporate treasurers and finance directors, then this is the ideal opportunity to demonstrate them, please call Ed Virtue on +44 (0)20 7576 8516 or email edvirtue@ for more information.

Official charity

African Rainforest Conservancy (ARC) is EuroFinance's nominated charity for Africa.

ARC restores African rainforests through grassroots conservation and community development. By providing new economic and educational opportunities to local men, women, and children, they empower villages to preserve their natural heritage for all mankind.

If you wish to make a donation, please go to

Are you a corporate treasurer with an interesting story to share?

Then we would like to hear from you. Join our elite group of EuroFinance speakers and raise your profile within the treasury industry. Contact Georgina Wellman on +44 (0)20 7576 8529 or email georginawellman@.

Conference venue

Eko Hotel & Suites Kuramo Waters, Victoria Island, Lagos, Nigeria Tel. +234 1 262 4600 Fax +234 1 261 5205 or 261 8083

For preferential rates please contact the Eko Hotel directly stating that you are attending the EuroFinance conference on +234 1 262 4600 or +234 270 2700-19 or email reservation@.

EuroFinance strongly advises that you reserve your hotel accommodation as soon as possible as rooms will be subject to availability at the time of booking.

For programme and speaker updates visit conferences

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