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NOVA Merchant Bank to covert to commercial bank, obtains shareholders’ approval

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NOVA Merchant Bank has secured unanimous approval from its shareholders to undertake the transition into a full-fledged commercial banking.

During the 6th Annual General Meeting held in Lagos on Wednesday, the shareholders showed unwavering support for the bank’s strategic move, acknowledging its strong potential to maintain and expand its growth trajectory.

Nova Merchant Bank management team
Nova Merchant Bank chairman with management team

At the meeting, the Board of Directors presented detailed restructuring plans outlining the seamless transition of NOVA Merchant Bank from its current status as a merchant bank to a fully licensed commercial bank.

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The bank was founded in 2017 and began operations as a Central Bank of Nigeria (CBN) licensed merchant bank in February 2018. Since then, the bank, have helped local and international businesses thrive in the Oil & Gas sector, Commodity & Agricultural business, Utility & Infrastructure, Fast moving consumer goods, Trade services, and Financial institutions and Treasury with our innovative financial solutions.

Phillips Oduoza with about 30 years banking experience in major financial institutions, is the founder and Chairman of the board of Nova Merchant Bank

The lender provide end-to-end financial services covering Corporate banking, Investment banking, Financial advisory, Capital markets and Wealth & Asset management, Deposit taking and Trade services to public and private businesses as well as high net- worth individuals.

The lender data driven approach offers new perspectives to enable our customers win in the marketplace. We continuously create sustainable value for all our stakeholders and remain focused on building a legacy for future generations.

(omayowa@globalfinancialdigest.com; Newsroom: +234 8033 964 138)

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