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GMD Speech for Commissioning of China Representative Office
 

GMD Speech for Commissioning of China Representative Office

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    GMD Speech for Commissioning of China Representative Office GMD Speech for Commissioning of China Representative Office Document Transcript

    • AN ADDRESS BY MR. BISI ONASANYA, GROUP MANAGING DIRECTOR/CHIEFEXECUTIVE OFFICER, FIRST BANK OF NIGERIA PLC, AT THE COMMISSIONINGOF FIRSTBANK CHINA REPRESENTATIVE OFFICE, JUNE 22, 2010His Excellency, Alhaji Aminu Bashir Wali, Nigerian Ambassador to China;Members of the Diplomatic Community;Governor, China Banking Regulatory Commission (CBRC);Mr. Olusegun Aganga, Honourable Minister of Finance, Federal Republic of Nigeria;Mallam Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria;The President, China-Nigeria Chamber of Commerce;Members of the Business Community;Valued Customers of the Bank;Dr. Oba Otudeko, OFR, Chairman, First Bank of Nigeria Plc;My other Colleagues on the Board of the Bank;Mr. Wen “Danny” Duanyu, Chief Representative of FirstBank Office in China;Gentlemen of the Press;Distinguished Ladies & Gentlemen:I am highly honoured to welcome you to this historic celebration. This is not only an importantmilestone for us but also signifies a new era for Nigeria – Chinese relations. Judging by theever-increasing trade flows between our two countries, I strongly believe that our newRepresentative Office will further assist in opening new business frontiers.For more than a century now, First Bank of Nigeria Plc has evolved a rich culture of serviceexcellence, which has positioned it as Nigeria’s leading financial services provider. By reason ofour enduring commitment to meet the varied needs of our customers, our Bank has naturallytailored its value-driven service and product offerings to surpass market expectations. As aconsequence, FirstBank has consistently broadened its market share, deepened its growthmargins and become an outstanding financial services group. This milestone is, therefore, anexciting turning point in our Bank’s history, as FirstBank’s presence in China further accentuates 1
    • our steady rise as an international financial services icon. FirstBank will make Nigeria and Africaproud as a worthy ambassador to Asia.You would recall that FirstBank already has banking relationships with Chinese institutions.These include an MOU with Yuemei Group Company Limited, a textile manufacturing firm, witha value of $50 million; a partnership with Shenzhen Energy Investment Co. Limited (ShenzhenEnergy Group) in the building of a 3,000 mega watts gas turbine power plant in Nigeria, worth$2.4 billion; as well as an MOU with Guangdong Xinguang International China-Africa InvestmentLimited for a $500 million investment in Ogun State, Nigeria. The Guangdong Xinguang Group’scollaboration with FirstBank is in the areas of investment banking, project financing, businessadvisory services and correspondent banking relationship. Furthermore, FirstBank also has anMOU with China Construction Bank to cover global banking collaboration.Considering the volume of business transactions between our two economies, and thepossibilities that have yet to unfold, it is vital that we put in place efficient mechanisms thatwould promote greater partnerships. It is against this backdrop that we have decided to extendour operations to China as well as facilitate and widen financial transactions and trade flowsbetween Nigeria and China.Your Excellencies, distinguished ladies and gentlemen, over its multi-generational history,FirstBank has continued to adapt and innovate to meet the different challenges andopportunities presented by different generations of customers, competitors and otherstakeholders, assuring not only its longevity but also market leadership. However, we owe therapid internationalization of our Bank to the kind support of the monetary authorities, particularlythe Central Bank of Nigeria over the years.Permit me to pay due respect to the Honourable Minister of Finance, Mr. Olusegun Aganga andOur dear Governor of the Central Bank, who is incidentally my predecessor as GMD/CEO of ourgreat Bank, Mallam Sanusi Lamido. We would always be grateful for the invaluable support andinspiration of the Federal Government of Nigeria, which have continued to encourage us toexplore new markets outside Nigeria.Your Excellencies, distinguished ladies and gentlemen, those of you who have already takenadvantage of our products and services would agree with me that our Bank is remarkable for its 2
    • dependability and dynamism. FirstBank also promises the safest gateway to the Nigerianeconomy. We invite the Chinese business community to make use of our first-class financialservices, even as you seek to explore the vast opportunities available in the Nigerian market.Thank you for joining us in this formal celebration of FirstBank’s operation in Beijing, the heart ofthe Asian economy.BISI ONASANYAGroup Managing Director/Chief Executive Officer 3