President Bola Tinubu said he envisions Nigerian banks excelling in foreign countries and solidifying their position among the world’s most successful enterprises.
Tinubu reaffirmed his commitment to establishing a robust and sustainable financial system for Nigeria’s national prosperity.
He emphasized that the economic policies under his leadership were driven by the urgent need to expedite the nation’s economic transformation.
During the groundbreaking ceremony of First Bank’s new headquarters at Eko Atlantic, Lagos, President Tinubu, represented by Vice President Kashim Shettima, highlighted the administration’s dedication to fostering a robust environment for significant investments and transformational projects.
Acknowledging the pivotal role of financial institutions in national prosperity, Tinubu stated, “Banks are the engines of economic growth. Our goal is to establish a system that ensures their sustainability and global competitiveness.
“We envision our banks excelling beyond Nigerian shores and solidifying their position among the world’s most successful enterprises.”
Despite inheriting an economic landscape necessitating challenging decisions, Tinubu reaffirmed his administration’s resolve to create opportunities for businesses to flourish through bold reforms, strategic partnerships, and infrastructure development.
He lauded First Bank’s resilience, noting that its success stems from its ability to innovate and adapt.
Vision for Lagos as Africa’s Financial Hub
Lagos State Governor Babajide Sanwo-Olu also emphasized the transformative vision behind Eko Atlantic City.
Reflecting on the early days of the project during Tinubu’s tenure as Governor of Lagos, Sanwo-Olu described how skepticism gave way to determination and success.
He further emphasized the project’s significance in positioning Lagos as a continental leader in finance and commerce.
“Our vision is to make Lagos a centerpiece of finance, not just in Nigeria but across Africa and beyond. The Eko Atlantic City project is a testament to hard work and belief in our nation’s potential,” said Sanwo-Olu.
Chairman of First Holdco, Femi Otedola, expressed pride in the new headquarters project, describing it as a landmark achievement. The planned 40-story, eco-friendly tower is set to be Nigeria’s tallest building, symbolizing a new standard for financial institutions in Africa.
“This iconic building represents an exciting milestone for First Bank and its customers, who remain at the heart of everything we do,” Otedola stated.
What you should know
- The event marked a new chapter in Nigeria’s financial sector, demonstrating the administration’s resolve to create an environment that attracts significant investments and fosters economic growth.
- The structure will be technologically advanced, integrating sophisticated construction techniques that set a new benchmark for the financial sector.
- With over 130 years of existence, the new head office represents First Bank’s commitment to excellence, innovation, and long-term growth.
First Bank Group CEO, Olusegun Alebiosu, emphasised that the project will contribute to economic development across Africa and create long-term value for stakeholders.
