NOVA Commercial Bank Prioritises Efficiency, Customer-centric Banking

Nume Ekeghe

Commercial Bank has outlined a strategic shift focused on efficiency, customer experience, and relationship-driven banking, as it completes its transition to a full-service commercial bank.

Speaking at a media parley in Lagos, Chairman of the bank, Phillips Oduoza, said the Bank’s ambition is to be “Africa’s preferred financial solutions provider,” emphasizing trust and quality advisory over sheer scale.

“Our focus is not to be the biggest, but the most trusted and preferred,” Oduoza stated, noting that Nova’s approach prioritises strategic partnerships and value creation for clients.

Reinforcing this position, he emphasised the Bank’s commitment to delivering high-quality advisory and relationship banking, rather than prioritising transaction volumes.

He said, “Our experience in merchant banking has shown that capital is rarely the primary constraint for well-run businesses. What enterprises need is strategic clarity—partners who can look beyond the balance sheet, identify underleveraged opportunities, and co-create sustainable value without excessive leverage. That capability remains rare in commercial banking, and we are making it our signature.”

On governance, he reiterated the bank’s uncompromising stance on institutional integrity: “Corporate governance at NOVA Bank is foundational—not a box-ticking exercise.

Institutional failures are rarely driven solely by market forces; they stem from lapses in governance. Our Board committees provide rigorous oversight across risk, audit, compliance, compensation, nominations, and human capital. Our whistleblowing framework remains fully independent. We are committed to absolute accountability to all stakeholders—customers, regulators, employees, and the public,” Oduoza further said.

Managing Director/CEO, Jude Anele, highlighted the Bank’s customer-first model, built on mass customisation, deep relationship management, and a “phygital” strategy that blends digital banking with physical presence.

“Customers want both convenience and connection. Our model delivers a seamless experience across all channels,” Anele said.

The bank also announced plans to open nine additional branches by the end of 2026, with a strong focus on supporting small and medium-sized enterprises (SMEs) through tailored financial solutions and advisory services.

NOVA Commercial Bank met the Central Bank of Nigeria recapitalisation requirements ahead of the March 31, 2026 deadline and currently operates in Lagos, Abuja, Port Harcourt, and Owerri.