JUST as banks in the country are putting in the final touches to recapitalise following the directive of the Central Bank of Nigeria (CBN), a new commercial bank, Nova Bank Limited, has officially begun operation.
The Lagos State governor, Mr Babajide Sanwo-Olu, who officially commissioned the bank located on 18, Kofo Abayomi Street, Victoria Island, on Tuesday, said despite the economic downturn in the country some Nigerians are still interested in investing in the country.
He said, “We are excited that we have continued to create the conducive environment for business to flourish and we are glad that some people are investing in the country.
“I am convinced that with the calibre of people at Nova Bank, the bank will survive and succeed. There is enough room for everybody.”
In his welcome address, the Managing Director of the bank, Mr Wale Oyedeji, said he and his management team and staff are excited that the bank has officially transformed into a commercial bank.
He described the commissioning of the bank as the first Phygital Bank. The bank will operate as a strong physical and heavy digitalised entity.
He said, “We are happy that we are commissioning Nigeria’s first Phygital Bank. The future is bright for us. We have had a great past and we are convinced that the future will be great.”
Mr Phillips Oduoza, Chairman of the bank, thanked the Central Bank of Nigeria for making the day a reality by approving the bank to operate as a commercial entity.
He said, “We are grateful to the CBN, especially under the leadership of Dr. Olayemi Cardoso. This is the first licence that Mr. Cardoso is granting as the governor.
“We are also grateful to the Lagos State government for providing the enabling environment for businesses to thrive.
“The government has made it easy for companies operating in the state to operate”.
Speaking on the transformation from a merchant bank to a commercial bank, Oduoza said it has been a smooth journey and that the bank is in this new phase for a long time.
His words, “We are here to impact society. We have been very successful in the wholesale banking space. We just decided to extend that service to larger customers. We want to transfer the good things we have been doing as a merchant bank to a large number of people.
“By transforming into a commercial bank, we will be creating employment for Nigerians and open branches in some strategic areas”
The bank intends to have branches in Ikeja, Apapa, Kano, Abuja, Port Harcourt and other places as it continues to grow.
Source: Daily Independent Newspaper
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