Gov Otti To Investors: Abia Open For Business ….. As Signature Bank Launches 2 Branches

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January 24, 2023

Press Release:


Abia State Governor, Dr. Alex Otti, OFR, says Abia is open for business and that his government would do all that is possible to support legitimate investors with a view to boosting the economy of the state, creating wealth and taking the people out of poverty.

Governor Otti stated this on Wednesday at the official opening ceremony of two branches of Signature Bank Limited in Aba and Umuahia.

He said the opening of two branches in one day by Signature Bank was a major testimony to the faith members of the business community have begun to have in Abia State, and the opportunities for steady entreprise and economic growth the present administration promises.

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“Abia is open for business and anyone who wants to invest in Abia, be it in banking, in finance, in trade, major businesses, we will be there to support you. And when you have erected your building and you are ready to open for business, please invite us, we will come to open it with you.

“We promised at the inception of this administration that we shall be a business friendly government, adopting robust initiatives to enhance our ease of doing business ranking, supporting micro, small and medium scale entreprises. We can confidently say that Abia has become a strategic investment zone for business planning to tap into new frontier of opportunities,” the Governor said.

Governor Otti used the opportunity to clarify that he is no longer a Director or member of the board of Signature Bank, which he helped to found before becoming governor of Abia State on May 29, 2023.

“I wish to state that until about eight months ago, I served on the board of Signature Bank as a pioneer non-executive director and one of its founders until my present role. It’s also important to indicate that I had to resign before taking up the role I am occupying at this time. So, I am here not as a director or a founder but as the Governor of Abia State and a guest,” he declared.

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Governor Otti said he was optimistic that many more businesses would be welcomed in the State in the months ahead, following discussions his government has had with leading investors, who are very eager to take advantage of the economic promises of the New Abia.

According to him, “Our dear State has become a place of serious interest for investors including major foreign conglomerates on account of our active commitment to turning every part of the State into a major centre of enterprise. Our guiding philosophy as a government is firmed on being proactive in decision making, cutting down barriers to enterprise success, and answering the important questions of security, critical infrastructure, and environmental sustainability.”

He said the decision by Signature Bank to open two branches simultaneously in Aba and Umuahia was a pointer to the fact that the government was doing things right in the State. He added that he was proud that the Bank, after about one year of its establishment has become a very important player in the Nigerian financial services industry and appreciated the Board and Management for believing in Nigeria and the limitless possibilities it holds and for heeding the call of investing in Abia State.

In his speech, the Chairman of the Board of Signature Bank, Dr. Mutiu Summonu, represented by Mazi Uzoma Nwankwo, pledged that the Bank would be a full and active participant in the drive by Governor Otti to transform Abia State to the best State in Nigeria.

“We understand the pivotal role small and micro scale entreprise play in driving the economic development. Our goal is to be a catalyst for their success, offering stable financial solutions to their growth and innovation,” he said.

The Chairman thanked Governor Otti for coming to grace the occasion and for offering the Bank the opportunity to invest in Abia.

Also speaking, the Managing Director of the bank, Mr. Godwin Nosike, said that the launch of the branches in Aba and Umuahia was in recognition of the opportunities and potentials that exist in Abia State.

“Our mission is to provide the necessary support to grow the business in Abia State. We believe in the power of partnership and relationships. In opening of the branches, we aim to provide a wide array of financial services to meet the uniqueness of our customers in State,” Nosike said.

Chief Press Secretary to the Governor
Abia State
Government House, Umuahia

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By Abia ThinkTank

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