TIB Rebrands, To Mobilize Over N1trn For Nigeria’s Infrastructure In Five Years

The Infrastructure Bank (TIB), a leading institution in the field of infrastructure finance in Nigeria, said it is raising N10bn currently and aims to increase its capital base to N100 billion in the next 18 months.

The bank also said it is planning to mobilize up to N1trn for infrastructure development over the next 5 years.

The Acting Managing Director of the Bank, Mrs. Nkiru Chime said these during the unveiling of its new logo today at a ceremony attended by dignitaries, stakeholders, and media representatives.

The logo launch was part of TIB’s rebranding strategy, which aims to reflect its evolution and transformation over the years.

TIB was established in 1992 as the Urban Development Bank of Nigeria Plc, with a clear mandate and vision to bridge the funding gap between the availability of public funds and the extensive capital requirements of critical infrastructure projects.

Speaking at the event, Chime said over the years, TIB has evolved, adapted, and expanded its scope and scale, becoming a reputable and trusted partner for project evaluation, risk management, and financial mobilization.

She said this year, TIB underwent a significant change in ownership and partnership, with Norrenberger, an integrated financial services Group, acquiring a significant stake in the bank.

This investment, she added, ushered in a new era of reform and innovation for TIB, positioning it to become an even more substantial contributor to Nigeria’s infrastructure development.

Norrenberger brought with it not only financial resources but also technical expertise from operating successfully in the financial services industry.

She described the new logo as a symbol of TIB’s resilience, adaptability, and unwavering dedication to shaping Nigeria’s infrastructure landscape for the better.

Chime outlined TIB’s immediate and long-term targets in the infrastructure sector, saying “The bank is currently raising N10 billion and aims to increase its capital base to N100 billion in the next 18 months. The bank also plans to mobilize up to N1 trillion for infrastructure development over the next 5 years.”

Also speaking at the ceremony, Mr. Tony Edeh, the Group Managing Director (GMD) and Chief Executive Officer (CEO) of Norrenberger Investment Capital, said: “We are proud to unveil our new logo today, which reflects our identity as a leading institution in the field of infrastructure finance in Nigeria.”

The ceremony was also graced by Mr. Ali Mohammed, the Director of Finance at the Ministry of Finance; Mr. Prakash Joshi, Greenville LNG Senior Manager; Mr. Yunusa Abdulsalami, the Assistant Director of Planning, Research and Statistics at the Ministry of Aviation; among others.

The guests expressed their appreciation and support for TIB’s rebranding strategy and commended its achievements and contributions to Nigeria’s infrastructure development.