Abia now an investment zone – Otti

*As Signature Bank opens branches in Abia

From Boniface Okoro, Umuahia 

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Gov Alex  Otti speaking at Signature Bank opening ceremony

Abia State has become a strategic investment zone for businesses planing to tap into new frontiers of opportunities.

To this end, the state is now considered a place of serious interest for investors, including major foreign conglomerates, Governor Alex Otti has declared.

He attributed the development to his administration’s deliberate policy aimed at turning every part of the state into a major centre of enterprise.

“Our dear State has become a place of serious interest for investors including major foreign conglomerates on account of our active commitment to turning every part of the State into a major centre of enterprise. Our guiding philosophy as a government is firmed on being proactive in decision making, cutting down barriers to successful  entreprise and answering the important questions of security, critical infracstructure and environmental sustainability,” he said.

Governor  Otti made the remark during the recent official opening ceremony of two branches of Signature Bank Limited in Aba and Umuahia, respectively. 

According to the Governor, the coming of Signature Bank to establish its branches in Abia was a major testimony of the faith members of the business community have began to have in the State and the opportunities for steady entreprise and economic growth the present administration promises.

“Abia is open for business and anyone who wants to invest in Abia, be it in banking, in finance, in trade, major businesses, we will be there to support you,” the Governor said. 

“We promised at the inception of this administration that we shall be a business-friendly government, adopting robust initiatives to enhance our ease of doing business ranking, supporting micro, small and medium scale entreprises,” he added.

“We can confidently say that Abia has become a strategic investment zone for business planing to tap into new frontier of opportunities,” he noted further.

Governor Otti, a former Director of Signature bank, used the opportunity to clarify that he was no longer a  Director or member of the board of the Bank.

“I wish to state that until about eight months ago, I served on the board of Signature Bank as a pioneer noexecutive director and one of its founders until my present role. It’s also important to indicate that I had to resign before taking up the role I am occupying at this time. So, I am here not as a Director or a Founder, but as the Governor of Abia State and a guest, the Governor explained.

He emphasized that the decision by Signature Bank to open two branches simultaneously  in Aba and Umuahia is a pointer that the government was doing things right in the State.

Governor Otti, said that he was proud that the Signature Bank, after about one year of its establishment, has become a very important player in the Nigerian financial services industry and praised the Board and Management of the bank for believing in Nigeria and the limitless possibilities it holds and for heeding to the call to investing in Abia State.

He stated that the State government would want to see a partnership between the bank and the Abia business community, assuring that the government would do everything possible to create  a conducive environment for all businesses to thrive.

He expressed optimistism that many more businesses would be welcomed in the state in the months ahead following discussions his government has had  with leading investors who are very eager to take advantage of the economic promises of the New Abia.

In his speech, the Chairman of the Board of Signature Bank, Dr. Mutiu Summonu , represented by Mazi Uzoma Nwankwo, pledged that the bank would be a full and active participant in the drive by Governor Otti to transform Abia State and make it the best State in Nigeria . 

“We understand the pivotal role small and micro scale entreprise play in driving the economic development. Our goal is to be a catalyst for their success, offering stable financial solutions to their growth and innovation,” Summonu said.

Also speaking, the Managing Director of the bank, Mr. Godwin Nosike, said that the launch of the branches in Aba and Umuahia was in recognition of the opportunities and potentials that exist in Abia State. 

Nwanosike added: “Our mission is to provide the necessary support to grow the business in Abia State. We believe in the power of partnership and relationships. In opening of the branches, we aim to provide a wide array of financial services to meet the uniqueness of our customers in the state.”