NOVA Merchant Bank Transitions to Commercial Bank

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NOVA Merchant Bank Limited has obtained approval to transition into a national commercial bank, announced Phillips Oduoza, the Board Chairman. Full commercial operations are set to commence in July, starting with the launch of the first branch in Lagos, followed by expansion across Nigeria.

Oduoza revealed these plans during a meeting with Governor Babajide Sanwo-Olu at the State House, Alausa, Lagos, where he emphasized the bank’s commitment to enhancing economic activities, creating employment opportunities, and providing extensive banking services in Lagos.

Governor Sanwo-Olu congratulated NOVA Merchant Bank on its conversion and affirmed the government’s dedication to fostering a conducive business environment. He pledged support for initiatives that promote business growth and development within Lagos State, aligning with his THEMES agenda.

Source: Daily Trust

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