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| Oba of Lagos, Rilwan Akiolu |
The Oba of Lagos on
Monday advised President Muhammadu Buhari to be civil in his approach to
governance, saying he should realize that he is no longer a military man.
The
Punch report continues:
Even
as the monarch said former Goodluck Jonathan could not be totally blamed for
the nation’s current economic crisis, he sought support for President Buhari
and expressed confidence in the Federal Government’s Economic Management Team
led by Vice-President Yemi Osinbajo to salvage the economy.
He
spoke in Lagos during the unveiling of SunTrust Bank Limited, the first
commercial bank to be licensed by the Central Bank of Nigeria in 15 years.
Akiolu
said, “All of us just have to support the President and I advise him to know
that he is no more a military man. I am not afraid to say that. The measures
they are taking on the rot of the past, honestly whether they like it or not,
it was not totally the fault of former President Goodluck Jonathan. I don’t
hide the fact that he (Jonathan) is my personal friend.”
The
President, Dangote Group, Aliko Dangote; Chairman, Forte Oil, Femi Otedola; and
Chairman, Senate Committee on Appropriation, Danjuma Goje, were among top
dignitaries that witnessed the unveiling of SunTrust Bank.
Dangote,
who was a special guest of honour at the event, described as a bold move the
decision by the Board of Directors and management of SunTrust Bank to open a
new bank at a time the global banking industry and major economies were facing
serious challenges.
The
lack of growth in major economies, declining commodity prices, and weakness in
the Nigerian economy, according to the Africa’s richest man, are some of the
challenges facing today’s businesses.
He,
however, noted that the challenges could be converted into opportunities by
forward-looking and proactive companies and businessmen.
Dangote
said this informed his decision to invest in Nigeria and other African
countries and listed some of his ongoing investment projects in Lagos to
include Africa’s largest fertilizer plant with capacity for three million
tonnes, and the world’s largest single line of refinery.
“These
investments of ours are meant to open the entire economy, not just in Nigeria
but the entire Africa. We also believe that this investment by SunTrust Bank
will attract good rewards in the years to come.
“SunTrust
Bank has a good business model that is based on financial technology, often
regarded as FinTech. With their focus on FinTech, customers can transact
business with them without leaving their homes,” he added
According
to the business mogul, the SunTrust Bank’s model will attract millions into the
financial system, noting that only 15% of the country’s adult population is
currently in the banking system.
While
unveiling SunTrust Bank, Dangote said, “This is a very bold move; ladies and
gentlemen, I present to you tomorrow’s bank today,”
Goje,
who also lauded the board and management of the bank, expressed hope that the
lender would enhance economic growth and development.
The
Governor, CBN, Mr. Godwin Emefiele, who was represented by the Branch
Controller, Lagos State, Mr J. Iyari, advised the bank to create a niche for
itself and comply with the rules and regulations guiding the banking sector.
The
Chairman, Board of Directors, SunTrust Bank, Mr. Charles Ugboko, said the
lender would give priority to excellent services.
He
said banking had gone beyond large branch network and, as such, the lender
would leverage technology to deliver superior and modern banking services to
the people.
According
to the Managing Director, SunTrust Bank, Mr. Muhammad Jibrin, the courage to
fulfil any dream usually comes from passion.
As
such, he said the board, management and staff of the bank were passionate about
making a difference in the banking sector.
He
said, “This is the first commercial banking licence in 15 years. We thank the
CBN for counting us worthy of this licence; it is a privilege and not a right.”
Jibrin,
who expressed gratitude to Dangote, Goje, and other eminent Nigerians at the
event, said the bank was determined to make a huge difference in the financial
services sector.
Other dignitaries at the event are: a former Chairman, Economic and Financial Services Commission, Mallam Nuhu Ribadu; Oba of Lagos, Rilwan Akiolu; Obi of Onitsha, Nnaemeka Achebe; President, Lagos Chamber of Commerce and Industry, Chief Nike Akande; a former Managing Director, Asset Management Corporation of Nigeria, Mr. Mustafa Chike-Obi, among others.
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