Akwa Ibom State Governor, Pastor Umo Eno, has assured Signature Bank and other investors of a stable and business-friendly environment in the state, saying his administration will continue to strengthen infrastructure and policies that support private sector growth.
Eno gave the assurance on Tuesday while commissioning the Uyo branch of Signature Bank, describing the establishment of the financial institution in the state as a welcome development that would expand economic opportunities for residents and businesses.
The governor said his administration was working to improve the ease of doing business through interventions in electricity, land administration, road infrastructure and other areas critical to private investment.
“I know that the bank is already doing well. I’ve heard Signature, Signature, and I was wondering why they are not in Akwa Ibom. So thank you for finally arriving Akwa Ibom,” Eno said.
He described Akwa Ibom as a destination of choice for investors, citing its road network, peaceful environment and hardworking population, while noting that the state was also being positioned as a tourism hub for the region and the country.
Eno said the government would continue to promote small and medium-scale enterprises as a major component of the ARISE Agenda, stressing that policies were being implemented to make the state more attractive to investors.
He said the planned launch of AkwaGIS would simplify the process of obtaining Certificates of Occupancy, which he described as an important requirement for businesses, particularly financial institutions seeking to establish and expand operations.
The governor also disclosed that the state was pursuing electricity reforms aimed at improving power supply, noting that government was “doing several things in the economy to make it easy for businesses to thrive here.”
Addressing concerns that the bank was commencing operations at a politically sensitive period, Eno assured investors that political activities would not disrupt governance or the stability required for businesses to operate.
“We as a government will not shy away from our duties and responsibilities to ensure that governance is maintained 24/7 while we do politics,” he said, adding, “Because after politics is gone, we still have a state to run.”
He urged Signature Bank to join the existing Bankers’ Committee and collaborate with other financial institutions and relevant stakeholders in sustaining the peace and economic environment necessary for businesses to flourish.
Earlier, the Managing Director/Chief Executive Officer of Signature Bank, Mr Nixon Iwedi, said the opening of the Uyo branch marked the beginning of a new relationship between the bank and the people, businesses and communities of Akwa Ibom.
Iwedi said the bank viewed the branch as more than a physical facility, describing it as a platform for building relationships, developing businesses and connecting the bank’s financial solutions to the needs of the state.
“For us, a branch is more than the physical infrastructure. It is a touchpoint, where relationships will be built, businesses will be developed, and the entire Akwa Ibom State will leverage on the resources put in place here to further the growth of this great state,” he said.
Representing the Board Chairman, Alhaji Tijjani Borodo, Mr Shedrack Odo said Signature Bank recognised the economic opportunities in Akwa Ibom as well as the potential of entrepreneurs, businesses and professionals operating in the state.
“As a financial institution, we see this opportunity, but more importantly, we see people behind them. We see the entrepreneur who needs working capital, the established business seeking to expand, and the professional who wants convenience and responsive banking,” Odo said.
He identified agriculture, tourism, hospitality, real estate, construction, transportation and professional services as sectors with significant opportunities for financial intervention in the state.
Also speaking, the Head of Currency Circulation, Central Bank of Nigeria, Dr Douyi Alalibo, said the establishment of the branch demonstrated confidence in Akwa Ibom’s economic potential and would contribute to deepening financial inclusion in the state.
Alalibo said the CBN welcomed investments capable of expanding access to financial services, stimulating entrepreneurship, creating employment and supporting economic development.
She urged Signature Bank to maintain high standards of professionalism, corporate governance, customer service and regulatory compliance, expressing the expectation that the Uyo branch would contribute to innovation, enterprise development and economic growth in the state.
