Phillips Oduoza Proving His Mettle

Phillips Oduoza’s leadership at NOVA Bank is earning praise, and it’s not without reason. Since becoming Chairman, he has overseen the bank’s transformation from a merchant bank into a national commercial player. If this shift is not a clear sign of Oduoza’s commitment to building a robust financial institution, nothing is.

Oduoza’s vision has always been to create a bank that serves both corporate giants and individual customers. By focusing initially on wholesale banking for high-net-worth clients, he built a strong foundation. Now, with the expansion into retail banking, NOVA is reaching a wider audience, for which reason the powers behind NOVA are waving happy placards like fangirls.

The move into retail banking was no small feat. Acquiring a national banking licence opened new doors, and NOVA’s innovative “Phygital” model has set it apart. This approach merges physical branches with advanced digital platforms. The end goal is clearly to guarantee that customers would have the best of both worlds—personalised service and digital convenience.

This “Phygital” model is already proving to be a success. NOVA’s newly opened commercial branch in Victoria Island, Lagos, marked the beginning of a broader push into retail banking. With Governor Sanwo-Olu in attendance, the opening signalled NOVA’s commitment to being a player in both the corporate and retail sectors.

But Oduoza’s influence does not stop at expansion; he is also strengthening the bank’s capital base. By working closely with shareholders and investors, he has secured the necessary support for NOVA’s growth. This foresight ensures NOVA can meet the Central Bank’s requirements and remain competitive.

Beyond NOVA’s internal growth, Oduoza is also clearly focused on contributing to Nigeria’s broader economic goals. By expanding NOVA’s operations, the bank is creating jobs and supporting the government’s vision of a trillion-dollar GDP. His insistence on this national contribution further solidifies his impact.

Oduoza’s leadership at NOVA is more than just hearsay. The bank’s transformation and continuous growth reflect a steady hand steering it to new heights. It’s clear that Oduoza is proving his mettle, and NOVA’s future looks bright under his guidance.