Bank78 MFB Launches Nigeria’s First Fully Private Digital Bank, Sets Out to Redefine Trust, Convenience and Prestige in Banking

Bank78 MFB has officially launched in Lagos, introducing Nigeria to a new category of private digital banking designed to serve the country’s mass-affluent population, upwardly mobile professionals, SMEs, families and students.

The unveiling event, held at The Hall, 16 Musa Yar’Adua Street, Victoria Island, brought together industry leaders, regulators, partners, and members of the media.

The launch marks the beginning of a new era in Nigeria’s financial landscape as Bank78 positions itself as a bridge between the speed of fintechs and the trust, stability and security expected of traditional banks.

Bank78 enters the market with a purpose-driven model that offers customers a calm, secure and refined banking experience. The bank’s value proposition is centred on trust, transparency, speed and private-banking confidence, qualities its founders say have been missing in the mainstream banking environment.

Speaking during the keynote address, Director at Bank78 MFB, EviOghene Osifo-Whiskey, described the institution as a solution to long-standing gaps in Nigeria’s financial ecosystem.

“There’s a gap between the speed of fintechs and the stability people expect from legacy banks. We are here to close that gap. Bank78 is built for a new generation of achievers who want private-banking confidence without losing digital simplicity. Our first product is trust, and everything rests on that. We are licensed by the CBN, insured by the NDIC, and fully NDPR-compliant. Customers deserve a bank that feels secure, intentional, and built with their future in mind.”

Osifo-Whiskey added that the bank reflects a quiet-prestige identity, combining clean design, seamless onboarding, dependable transfers, and real-time assistance through Ruby, Bank78’s digital assistant.

Guests at the launch experienced live demonstrations of the Bank78 platform, showcasing features such as: Instant digital account opening, reliable transfers and payments, a clean, intuitive user interface, goal-based savings, real-time support through Ruby, integrated personal and business banking options.

Osifo-Whiskey emphasized transparency as a core operational principle. She addressed common concerns about unclear bank charges, noting that Bank78 avoids unnecessary fees and adheres strictly to regulatory and ISO-compliant frameworks.

“Money is a critical matter. People don’t play with it,” she noted. “We ensure customers can see what their money is doing, where it is, and how it moves at every step.”

Chairman of Bank78, Bright Ajaegbu, said the bank was designed from inception to correct structural inefficiencies in the financial system.

“We are here to launch not an ordinary bank, but one capable of changing the narrative in Nigeria’s banking industry,” he said. “What we have done today is a disruption. Bank78 is designed for businesses, families, individuals and students to experience a new way of banking.”

Ajaegbu disclosed that the bank operated remotely while developing its systems and is now ready to scale fully, enabling customers complete all banking activities, from account opening to loan application, from the comfort of their homes or offices.

Bank78 also highlighted its commitment to SMEs and relationship-driven service, an area where many traditional banks struggle.

According to Director of Sales at Bank78 MFB, Eberechukwu Dike, “We believe there is a gap where banks no longer provide empathy or strong relationships to customers. At Bank78, we are big on SMEs. We follow them from start to scale—from business registration support to advisory, capacity-building workshops, and growth programmes.”

Dike explained that although the bank has a physical location for customer assurance, its operations are primarily digital, supported by a 24-hour contact centre and an in-app assistant designed to resolve issues within minutes.

The event concluded with an immersive presentation of Bank78’s brand philosophy, highlighting the bank’s mission to deliver a prestige-driven, secure and transparent digital banking experience for Nigeria’s mass-affluent population and emerging achievers. Bank78 MFB is now live and open to customers nationwide.