ABIA: Signature Bank Launches 2 Branches, Promises Support For Small Businesses

Abia State Governor, Dr. Alex Otti, has declared that Abia is open for business and his government will support legitimate investors to boost the economy, create wealth, and lift people out of poverty. He made this statement at the official opening ceremony of two branches of Signature Bank Limited in Aba and Umuahia on Wednesday.

“Abia is open for business, and anyone who wants to invest in Abia, be it in banking, finance, trade, or major businesses, we will be there to support you,” Governor Otti 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 enterprises. We can confidently say that Abia has become a strategic investment zone for business planning to tap into new frontier of opportunities.”

Governor Otti also clarified that he is no longer a Director or member of the board of Signature Bank, which he helped to found before becoming governor. He resigned from the bank before taking office in May 2023.

“I wish to state that until about eight months ago, I served on the board of Signature Bank as a pioneer non-executive director and one of its founders until my present role,” he said.

“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.”

Governor Otti expressed optimism that many more businesses would be welcomed in the State in the coming months, thanks to discussions with leading investors. He emphasized the government’s commitment to making Abia a major center of enterprise, focusing on proactive decision-making, reducing barriers to business success, and addressing issues of security, infrastructure, and sustainability.

The decision by Signature Bank to open two branches simultaneously was seen as a positive sign by the Governor. He commended the Bank’s success in its first year and its belief in Abia’s potential.

In his speech, the Chairman of the Board of Signature Bank, Dr. Mutiu Summonu, represented by Mazi Uzoma Nwankwo, pledged the Bank’s full support for Governor Otti’s vision to transform Abia into the best State in Nigeria.

“We understand the pivotal role small and micro scale enterprises play in driving economic development,” he said.

“Our goal is to be a catalyst for their success, offering stable financial solutions to their growth and innovation.”

The Chairman thanked Governor Otti for his presence and support for the Bank’s investment in Abia.

The Managing Director of the bank, Mr. Godwin Nosike, also spoke at the event, highlighting the opportunities and potential in Abia State.

“Our mission is to provide the necessary support to grow the business in Abia State,” Nosike said.

“We believe in the power of partnership and relationships. In opening these branches, we aim to provide a wide array of financial services to meet the uniqueness of our customers in the State.”

The opening of the two Signature Bank branches is a significant step forward for Abia State’s economic development. Governor Otti’s commitment to creating a business-friendly environment and the Bank’s investment in the State are both encouraging signs for the future.