Nova Bank Limited shareholders have promised to raise new funds to meet the Central Bank of Nigeria (CBN) recapitalisation deadline.
The Bank’s Chairman, Phillips Oduoza, disclosed this yesterday during the opening of the bank’s maiden branch as a national commercial bank in Lagos.
He said the bank’s shareholders had last year raised funds through rights issue, and promised to bring new funds for the ongoing recapitalisation excercise.
On the bank’s operational modalities as a commercial bank, Oduoza said Nova Bank will be looking beyond profitability in its operations.
He said: “We are not here to maximise profit but to support businesses and extend our services to the retail end of the market. We want to impact the Nigerian banking sector positively.
We have long term goal to impact society”.
He lauded the Central Bank of Nigeria (CBN) and Lagos State Government for their support. He said operating as a commercial bank provides greater opportunity for the bank to employ more people and support more businesses.
“Having a commercial bank licence gives us opportunity for more job creation. We are over 100 people in our workforce. We are going to employ more people as we branch out to more locations in Lagos. We will also open branches in Abuja, Kano and other parts of the country,” he said.
He said the bank will also carry out transactions in locations where it does not have physical presence with digital banking services. “This is our fifth year in business and we are ready to disrupt the industry and bring radical business model that will change the banking industry. We want to empower the consumers, create excitement for our customers. We want to be a solution-driven bank,” he said.
Managing Director/CEO of NOVA Bank, Wale Oyedeji, said the bank has what it takes to succeed as a commercial bank, and will prioritise excellent services that meet customer’s needs.
He said the bank has been instrumental to the success of leading corporates and high-net-worth individuals, delivering tailored solutions to meet the unique needs of their businesses. As we evolve to serve a broader customer base, we remain committed to delivering innovative services to customers.
Speaking during the programme, Lagos State Governor, Babajide Sanwo-Olu, said government will continue to encourage people that have interest in investing in the economy.
“We need to encourage those investing in the economy. I want to encourage you, and tell you that we are excited at your commencement of commercial banking operation. You have taken the right decision. Your vision aligns with that of the Federal Government’s vision of achieving $1 trillion economy,” Sanwo-Olu said.
