Dr. Alex Otti, the Governor of Abia State, has announced that Abia is ready for business and his administration is committed to supporting legitimate investors to stimulate economic growth, generate wealth, and alleviate poverty.
The declaration was made during the official opening ceremony of two branches of Signature Bank Limited in Aba and Umuahia on Wednesday.
Governor Otti affirmed, “Abia is open for business, and anyone seeking to invest in Abia, whether in banking, finance, trade, or major enterprises, will receive our full support. As promised at the beginning of this administration, we aim to be a business-friendly government, implementing robust initiatives to improve our ease of doing business ranking and supporting micro, small, and medium-scale enterprises. Abia has now evolved into a strategic investment zone offering new opportunities.”
Addressing any potential conflicts of interest, Governor Otti clarified that he is no longer associated with Signature Bank, having resigned from his position as a director and founder eight months prior to assuming office in May 2023.
“I wish to clarify that until about eight months ago, I served on the board of Signature Bank as a pioneer non-executive director and founder until my present role. It’s crucial to note that I resigned before assuming my current position. I am here not as a director or founder but as the Governor of Abia State and a guest,” he explained.
Governor Otti expressed optimism about attracting more businesses to the State in the coming months, citing ongoing discussions with leading investors. He reiterated the government’s dedication to making Abia a major center of enterprise by facilitating proactive decision-making, reducing barriers to business success, and addressing security, infrastructure, and sustainability issues.
The simultaneous opening of two branches by Signature Bank was viewed as a positive indicator by Governor Otti, who commended the bank’s success in its inaugural year and its belief in Abia’s potential.
Dr. Mutiu Summonu, the Chairman of the Board of Signature Bank, represented by Mazi Uzoma Nwankwo, pledged the bank’s unwavering support for Governor Otti’s vision to transform Abia into the best state in Nigeria.
“We understand the pivotal role small and micro-scale enterprises play in driving economic development. Our goal is to be a catalyst for their success, offering stable financial solutions to their growth and innovation,” expressed Nwankwo on behalf of the Chairman.
The Managing Director of the bank, Mr. Godwin Nosike, also spoke at the event, emphasizing the opportunities and potential within Abia State.
“Our mission is to provide the necessary support to grow businesses in Abia State. We believe in the power of partnership and relationships. In opening these branches, we aim to provide a wide array of financial services to meet the uniqueness of our customers in the State,” said Nosike.
The simultaneous opening of two Signature Bank branches marks a significant stride in Abia State’s economic development. Governor Otti’s commitment to fostering a business-friendly environment and the bank’s investment in the state are promising signals for the future.
