NOVA Bank Transitions to National Commercial Bank, Opens First Branch in Lagos
NOVA Bank has received a final license from the Central Bank of Nigeria (CBN) to operate as a national commercial bank.
This milestone follows the bank’s announcement in January about its readiness to transition into full commercial banking.
NOVA Bank marked this achievement by inaugurating its first commercial banking branch on Victoria Island (VI) in Lagos.
The bank has revealed plans to open additional branches across Lagos, Abuja, Port Harcourt, and Kano.
Phillips Oduoza, chairman and founder of NOVA Bank, highlighted the institution’s commitment to its customers and exceptional service delivery.
“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,” Oduoza stated.
He emphasised that the bank’s expansion is aimed at delivering an unparalleled banking experience that integrates both physical and digital services.
“Our trademarked PHYGITAL experience combines a select number of strategically located physical branches with high-tech, seamless digital banking capabilities, ensuring that our customers receive the best of both worlds,” Oduoza explained.
This approach enables NOVA Bank to offer personalized, in-person service alongside the convenience and efficiency of advanced digital solutions.
Wale Oyedeji, the Managing Director and CEO of NOVA Bank, also spoke on the bank’s evolving role, noting that NOVA has been pivotal in the success of leading corporations and high-net-worth individuals for over half a decade, offering customised solutions to meet their unique business needs.
“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 said.
Furthermore, Oyedeji outlined NOVA Bank’s plans to enhance financial inclusion, provide secure banking solutions, and support the small and medium-sized enterprises (SMEs) market – a crucial economic driver – through innovative digital products and services.
