President Bola Tinubu has reaffirmed his administration’s commitment to creating a globally competitive and sustainable financial system for Nigerian banks and institutions.
Speaking at the groundbreaking ceremony for First Bank’s 43-story headquarters at Eko Atlantic City in Lagos, Tinubu, represented by Vice President Kashim Shettima, emphasized that banks thrive only in a robust economy.
“Banks are the engines of economic growth, and we owe it to them to champion a system that guarantees sustainability and global competitiveness,” Tinubu said.
He highlighted the administration’s determination to implement policies that foster business growth and financial sector expansion beyond Nigeria’s borders.
The President acknowledged the economic challenges inherited by his government and justified the difficult but necessary policy decisions taken to stabilize the fiscal and monetary landscape.
“We assumed office at a time that demanded bold, progressive thinking. Our policies are inspired by the reality that we can no longer afford to postpone our economic transformation,” he said.
Tinubu commended First Bank for its longevity and resilience, tracing its evolution from the Bank of British West Africa to Standard Bank of West Africa, and now to a 130-year-old institution.
“Surviving, let alone thriving, in an industry where many banks have faded into history requires more than calculated risks. It takes ambition and refined brilliance,” he noted.
Dignitaries at the event included Governors Dapo Abiodun (Ogun) and Lucky Aiyedatiwa (Ondo), Lagos Deputy Governor Dr. Obafemi Hamzat, former Senate President Bukola Saraki, and business leaders such as Aliko Dangote, Gilbert and Roland Chagoury, Deji Adeleke, Mohammed Indimi, and Senator Daisy Danjuma.
