By Barnabas Esiet.
Following the approval of the Central Bank of Nigeria (CBN), NOVA Merchant Bank Limited has officially transmuted to a national commercial bank.
Phillips Oduoza, Board Chairman of the bank disclosed this when he led his board and management members to a meeting with Governor Babajide Sanwo-Olu at the State House, Alausa, Lagos.
Oduoza said the launch of the first branch of NOVA bank in Lagos next month will mark the commencement of full commercial operation before spreading to other parts of Nigeria.
He stated, “We want to roll out the first branch in Lagos and rolling out first in Lagos implies that we are going to have so many branches because the licence that we have is that of the national Commercial Banking.
“But we are not going to leave a place that has given us a very good environment to start setting up branches elsewhere without first setting up branches here in Lagos.
Oduoza explained that the decision to start in Lagos is informed by the need to support part of the drive for economic activities, creation of employment for people and provision of additional banking services to the customers in the locality.
He commended the current administration in the state for providing a business friendly environment and expressed the bank’s readiness to work with the governor towards achieving his agenda for the state
For his part, while commending Nova bank, Governor Sanwo-Olu restated his administration’s commitment to creating the enabling environment for individuals and business entities to thrive in the state.
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