Zenith Bank Signs MOU With French Govt For Banking License In France
Zenith Bank Plc, one of Nigeria’s leading tier-one bank has said that it has applied for regulatory approval from French authorities to expand its banking business in the country.
The bank said it signed a memorandum of understanding (MoU) with the government of France on Friday for the issuance of banking license to operate in the country.
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The Group Managing Director/Chief Executive Officer of Zenith Bank and Chairman, Body of Bank CEOs, Dr. Ebenezer Onyeagwu, made the disclosure on Friday at the 58th Annual Chartered Institute of Bankers Dinner, monitored by THE WHISTLER.
Onyeagu said, “Our industry is strong, our industry is dynamic, our industry is growing, our industry is robust and our industry is resilient. If you look around every region of Africa, you are going to find the Nigerian flag being flown. There is no region in Africa where you will not find Nigerian flag.
“And even when you go global, almost in every continent, Nigerian banks are represented. This afternoon (Friday, 24th/11/2023), we signed an MoU with the government of France to signal the commencement of the issuance of a banking licence to Zenith to commence operation in France.
“So, the credit for this goes to the institute. Today, as I speak to you on behalf of the committee of bank CEOs, we stand here to say that we are very proud of the institute. We appreciate their professionalism.”
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He said most investors and the banking public are concerned on the direction that the industry is heading, adding that the industry is getting stronger than predicted.
“The biggest elephant in the room that people used to talk about is the issue of FX forward and that elephant in the room has been caged and not only that it has been caged, but this elephant has also been dissected, the limbs have been cut and we are moving on to ensure that the issues about the FX forward are resolved in no time’” he added.
The CEO attributed the success to the efforts of the CBN leadership under Governor, Olayemi Cardoso.
