Nova Bank Begins Operation as National Commercial Bank

Ibrahim Shehu Adili

6 months ago

NOVA Bank Limited, formerly known as NOVA Merchant Bank, has officially commenced operations as a national commercial bank. This development follows the Central Bank of Nigeria (CBN) approving a final licence, allowing the bank to transition into a full commercial banking business.

In January, the bank had announced its readiness to transition to a full commercial banking business. Speaking on this latest move, NOVA stated it has opened its first commercial banking branch in Victoria Island (VI), Lagos, with plans for more branches in Lagos, Abuja, Port Harcourt, and Kano.

Phillips Oduoza, chairman and founder of NOVA Bank, emphasized the firm’s unwavering commitment to its customers and exceptional service delivery. He stated, “We are pleased to continue our tradition of excellence established as a merchant bank and further extend the banking experience to the retail end of the market. As we expand our services, we remain dedicated to delivering an unparalleled banking experience that seamlessly integrates the physical and digital realms.

Oduoza highlighted NOVA’s “PHYGITAL” experience, which combines strategically located physical branches with high-tech, seamless digital banking capabilities. This approach allows the bank to provide personalized and in-person service while also offering the convenience and efficiency of cutting-edge digital solutions.

Wale Oyedeji, managing director and chief executive officer (CEO) of NOVA Bank, noted that the organization has been instrumental in the success of leading corporations and high-net-worth individuals for over half a decade, providing customized solutions to meet their unique business needs. He added, “As we evolve to serve a broader customer base, we remain committed to delivering innovative services, building on our legacy as a leading Merchant Bank.”

Oyedeji also mentioned that the bank aims to enhance financial inclusion, provide secure banking solutions, and boost the small and medium-sized enterprises (SMEs) market as a key economic driver through disruptive digital products and services.

For further details visit.https://www.thecable.ng/nova-bank-begins-operation-as-national-commercial-bank/amp/

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