NOVA Bank Commences Operations as National Commercial Bank

Oluchi Chibuzor

NOVA Bank, formerly known as NOVA Merchant Bank, has officially commenced operations as a National Commercial Bank.

This follows the Central Bank of Nigeria’s (CBN) approval of the final license for the Bank to commence operations as a National Commercial Bank.

Consequently, the bank has opened a branch in Victoria Island and announced that additional branches in Lagos, Abuja, Port Harcourt, and Kano, will follow shortly.

Speaking on the commencement of its commercial banking operations, Chairman and Founder of NOVA Bank, Mr. Phillips Oduoza, emphasised the bank’s unwavering commitment to customer focus and delivering exceptional service.

He also seized the opportunity to introduce the innovative “PHYGITAL” model, which according to him, is a trademark of NOVA.

He said, “We are pleased to continue our tradition of excellence established as a merchant bank and further extend the banking experience to the retail end of the market. As we expand our services, we remain dedicated to delivering an unparalleled banking experience that seamlessly integrates the physical and digital realms.

“Our trademarked PHYGITAL experience combines a select number of strategically located physical branches with high-tech, seamless digital banking capabilities, ensuring that our customers receive the best of both worlds. This approach allows us to provide personalised, in-person service where it is most needed, while also offering the convenience and efficiency of cutting-edge digital solutions.”

The Managing Director/CEO of NOVA Bank, Wale Oyedeji, said, “For over half a decade, NOVA has been instrumental to the success of leading corporates and high-net-worth individuals, delivering tailored solutions to meet the unique needs of their businesses. As we evolve to serve a broader customer base, we remain committed to delivering innovative services, building on our legacy as a leading Merchant Bank.

“Through disruptive seamless digital products and services, we are poised to deepen financial inclusion, provide convenient and secure banking solutions, and elevate the SME market as a key economic driver.”

The Bank’s Group Head, Retail and Digital Banking, Mrs. Esther Adino, highlighted the innovative financial solutions that NOVA Bank offers, adding, “At NOVA Bank, we provide a comprehensive suite of banking services tailored to meet the diverse needs of individuals, SMEs, and large corporations. Our card solutions ensure convenience and security for everyday transactions.”