Dike Onwuamaeze
The Chief Executive of Stanbic IBTC Holdings PLC, Mr. Demola Sogunle, took a strategic step on Monday when he commissioned a new branch of the StanbicIBTC Bank in the Lekki Free Trade Zone (LFTZ), Ibeju-Lekki axis of Lagos State.
Sogunle said that the bank took the step to establish its physical presence in the LFTZ as a forward-thinking financial institution that is mindful that the axis would soon become a centre of economic activities in Lagos State and the entire country.
The branch is located a few metres away from the gate of the Dangote petroleum refinery and petrochemical industries.
He said: “We felt that we have to establish our physical presence here because this axis is one of the fastest-growing areas in the country and West African sub-region in terms of industrialisation. We felt that we will bring our services and solutions to the very doorstep of major economic activities within this neighbourhood.
“This is a very strategic and intentional move if you check the volume of investments that have been committed to this axis, whether in the context of the largest petroleum refinery, the largest petrochemical plant that is coming up, the free trade zone, manufacturing activities as well as the deep sea port coming up within this axis. You do not need to be told that what we got here in terms of GDP contribution is bigger than some African countries.
“We just have to be here in order to support, partner, and see to the development of this axis in terms of economic activities.”
He said that the StanbicIBTC is an end-to-end financial institution whose services cover pensions, assets management, stockbroking, insurance, banking, and investment banking.
“We have got everything. All the workers here will need a pension, insurance, consumer credit, etc.; we have got them all within the StanbicIBTC. This area can only grow, so we are happy to be associated with what is happening here and it can only get better,” Sogunle said.
The Chief Executive, Stanbic IBTC Bank, Mr. Wole Adeniyi, also commented on the significance of the new branch, which he said would catalyse vast investment opportunities inherent in the region.
