FCMB Restates Commitment to Economic Growth, as Nestle Inaugurates N5.7bn Water Factory


First City Monument Bank (FCMB) Limited has assured its stakeholders that it will continue to deepen its support for projects and other initiatives that would impact significantly on Nigerians and the nation’s economy in a sustainable manner. This, according to the bank, is in line with its values as a simple, reliable and helpful financial institution committed to the well-being of individuals and businesses.

The assurance was given by the Executive Director, Business Development of FCMB, Mr. Adam Nuru, during the inauguration ceremony of a new water factory of Nestle Nigeria Plc in Abaji, Abuja last week. The project was guaranteed by the bank through a N5.7 billion loan secured from the Bank of Industry(BoI). The new factory occupies 14.13 hectares of land with a potential for future expansion.
According to Nuru, FCMB’s involvement in the project is another demonstration of its drive to enhance living conditions and contribute actively to the development of the country in spite the challenges confronting the economy.
“Apart from the business inclination of this landmark project, we are proud to be part of the venture, especially because it leans towards one of our core pillars, which is environmental sustainability. Water is a major component of human and industrial needs. Being a scarce resource, the challenge of providing clean and safe water as well as conserving our shared scarce resources should be a collective effort. We are optimistic that our support to Nestle on this project would increase access to safe water supply, stimulate job creation and subsequently aid socio-economic development.”

Nuru noted that Nestle’s latest investment in Nigeria is a reaffirmation of the nation’s broad-based economic opportunities, wide flexibility and friendliness offered to both local and foreign investors alike. He emphasised FCMB’s commitment in the support of initiatives that create opportunities, add value and make positive impact on the country’s economy.
“As an inclusive lender, we will continue to partner the private and public sectors to raise the well-being of the people with our array of value-adding products and bespoke solutions that enhance customer experience,” Nuru assured.

FCMB Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional customer experience, while empowering its customers to achieve their aspirations.