Graphic Business News

FBN Holdings calls on Prez Akufo-Addo

By: Graphic Business

The Group Board Chairman of FBN Holdings Plc, Dr Oba Otudeko CFR, and directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited have paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, in Accra.

The visit was to show appreciation to the President and thank him for participating in FirstBank of Nigeria Limited’s 125th anniversary activities held earlier this year and update the President of some recent investment activities of the group.

Dr Otudeko assured President Akufo-Addo that FBN Holdings believed in the Ghanaian economy and indicated that it was evidenced by the recapitalisation of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited.

He pointed out that the group’s investment of US$100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation.

The FBN Holdings Group board chairman added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Mr Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited.

Crucial bilateral ties

President Akufo-Addo thanked Dr Otudeko for his kind words and recounted the crucial bilateral and economic ties, as well as historic bond, pre and post-independence, that existed between Ghana and Nigeria.

While stating that it was important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that the government would provide the necessary support to FBNBank Ghana Limited and the entire business community.

President Akufo-Addo emphasised the importance of providing opportunities to the youth to enable them to support the nation’s growth and development agenda, and the need for all citizens of the two countries to find avenues to give back to their nations.

Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.