Caption: Elumelu (left) signing the deal with Armand. Behind them, looking on, are President Tinubu (left) and his host, President Macron.
The United Bank for Africa Plc, on Thursday signed a landmark agreement that would see the group beginning full-fledged banking operations in Europe, with France as hub.
The deal was struck on the sidelines of the state visit by President Bola Tinubu and the Nigeria-France Business Council meetings to Paris, the French capital.
This high-level gathering is aimed at strengthening bilateral relations between Nigeria and France, with a focus on expanding economic ties and exploring new areas of collaboration.
UBA Group’s chairman, Tony Elumelu, signed the landmark business cooperation agreement the deal with the French Finance Minister, Antoine Armand, in the presence of President Tinubu and the President of France, Emmanuel Macron.
Caption: Members of the Nigeria-France Business Council in Paris on Thursday with Presidents Tinubu (front row fifth from left) and Macron (middle). With them are: Nigeria’s Finance Minister, Olawale Edun (front row- right), AbdulSamad Rabiu (third from right), Elumelu (fifth right); Aigboje Aig-Imoukhuede, Chairman, Access Holdings Plc (third left); and President/Chief Executive, Dangote Industries Limited, Alhaji Aliko Dangote (Photo Credit: @UBAGroup official X-handle.
The agreement, according to a statement by the group, is a significant indication of support by the French Government for the development of UBA’s full banking operations in the country.
Speaking at the signing ceremony, Elumelu, said the “partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole; and French and European customers transacting with Africa.”
Expanding into France, he continued, “is a natural progression, with Paris serving as our European Union hub, as we continue to bring Africa and the world together, through innovative financial solutions. Paris will join London, New York and Dubai, as a critical component of our unique global network.”
