“We Don’t Want To Be Biggest But Most Efficient” – NOVA Bank Chairman, Oduoza Declares As Sanwo-Olu Opens 1st Commercial Banking Branch

Chairman Philips Oduoza on Tuesday, July 16, 2024 disclosed another of the guiding visions of NOVA Bank, the financial institution thriving in the face of national economic challenge thanks to its unique approach.

In a strong show of confidence in its operations by the Central Bank of Nigeria (CBN), shareholders, customers and related public – NOVA Merchant Bank has transitioned into NOVA Bank, a national commercial bank.

The new journey – after consistently surpassing market expectations, posting profits and strengthening position as a t to be reckoned with financial institution, both domestically and globally – starts with the opening of a state of the art commercial banking branch on Kofo Anayomi street, Victoria Island, Lagos.

The branch was officially opened by Governor of Lagos state, Babajde Sanwo-Olu, who testified to the innovation and multi-talented skills abound at NOVA Bank, on Tuesday, July 16, 2024.

Sharing part of the vision that is sustaining NOVA Bank’s unwavering commitment to customer focus and delivering exceptional service, Chairman Oduoza in his welcome speech disclosed that ” we do not want to be the largest bank, we do not want to be the biggest bank, we want to be the solution driven bank. We want to be the most efficient bank”.

In pursuing this aim – and related objectives -, the Chairman disclosed that NOVA Bank has introduced “our PHYGITAL model, which blends the best aspects of physical and digital banking services”.

Beaming light on the on the trademarked strategy, Oduoza explained, “this innovative approach combines the personal touch and relationship-building of in-person branch interactions with the convenience and efficiency of digital platforms. Our goal is to provide a seamless banking experience that meets the evolving needs of our customers.”

The Governor, who applauded PHYGITAL as a welcome innovation thanked NOVA Bank for getting it right and for the value it is bringing to bear on the economy of the state as well as contributing to the federal government’s target – as directed by President Bola Tinubu – of meeting a one trillion dollar GDP(Gross Domestic Product) in the next seven years.

With testimonies of high-impact performances from customers that include leading indigenous oil and gas company – Rainoil Group and luminary enterprise that has carved a strong niche in energy and transport – Wandel Group, Oduoza disclosed that the bank that has provided increased employment opportunities with an almost 100% increase of its workforce – as a result of its new status – “will soon be opening additional PHYGITAL branches in Ikeja, Apapa, Abuja, Port Harcourt (Rivers state) and Kano”.