Stanbic IBTC promises to attract more foreign investors to Nigeria

Stanbic IBTC promises to attract more foreign investors to Nigeria

Monday, September 18, 2017 10:05 pm

Vice President, Yemi Osinbajo with MD of IBTC, Yinka Sanni and other members of the bank’s team at the Foreign Investors Forum, State House. 18th September, 2017. Photos: NOVO ISIORO

The Chief Executive of Stanbic IBTC, Mr Yinka Sanni, on Monday reaffirmed the commitment of the bank to attract international investors to Nigeria to look at existing opportunities and explore them to further grow the economy.

He stated this while addressing state House Correspondents after he led a delegation of the bank’s international partners to a courtesy visit to Vice President Yemi Osinbajo.

“We have been here to see the Vice President so he will be able to tell investors that Nigeria is open for business; that we are a friendly country from an investment point of view.

“It has been challenging times for the country and the government of Nigeria has taken several steps that have clearly turned around situations.

“You will recollect that we were in recession and the recent numbers that NBS (National Bureau of Statistics) put out indicate that the country has come out of recession and all that credit due to our government, led by our President and supported ably by his Vice.’’

The Chief Executive noted that the bank played a key role in the economic recovery as financial intermediaries offering end-to-end offer services to Nigerians and foreigners.

He noted that more recently when the Central Bank of Nigeria (CBN) further liberalized the foreign exchange market, “Stanbic IBTC has been a key, significant player, through which many investors in the country have come to do business in Nigeria.

“So we are very pleased and honoured and proudly Nigerian that we have contributed in our little way to the growth and development of our economy.’’

On the role of the financial institution to sustain the growth, he promised that the organization would continue to play its role as intermediaries.

“We are a leading financial institution offering services end-to-end. Whether it is current account right all the way to pensions as well as investment banking, we offer those services.

“So as intermediaries we ensure that we offer the services of the type that empower Nigerians in whatever they want to do to achieve their objectives.

“We give them access to financing for new plants and machinery to ensure that they continue to be in operation,’’ he said.

Sanni added that on a macro level, the organization was involved in supporting infrastructure development in the country.

“Clearly in Nigeria, part of our growth as a country is dependent on reliable and sustainable infrastructure, so Stanbic IBTC participates actively in that,’’ he assured.

He recalled that just last week the bank was privileged to sign a N50 billion agreement with NIRSAL in terms of agriculture where it had plans to, in the medium term, lend N50 billion to support agriculture.

He said that the organization was part of the nation’s emerging development, having been in the country for long and employing many Nigerians as part of its contribution to nation building.

The chief executive said the visit to the Vice President was part of activities lined up for the on-going Standard Bank West and East Africa Investors Conference.

According to Sanni, annually, Standard Bank, represented in Nigeria by Stanbic IBTC, holds an investors’ conference where it invites them from around the globe: US, Southern Africa, Europe and the rest of the world.

“These investors visit Nigeria once a year to look at opportunities that exist in our country so they may take these opportunities,’’ he said. (NAN)

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