The United Bank for Africa has signed a deal to commence full banking operations in France.
In a statement late Thursday, the banking group said the landmark business cooperation agreement with the French Finance Minister, Antoine Armand, was part of President Bola Tinubu’s state visit to France.
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During the visit, the Chairman of UBA Group, Tony Elumelu, in the presence of Tinubu and the President of France, Emmanuel Macron, signed the agreement indicative of support by the French Government for the development of UBA’s full banking operations in France.
Speaking at the signing ceremony, Elumelu said, “This 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 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.”
With this agreement, UBA joins tier-1 banks in Nigeria, running with a banking presence in France.
Tinubu arrived in France on Thursday for a two-day state visit, with both sides looking to deepen their economic and diplomatic ties.
It is the first official state visit to Paris by a Nigerian leader in over two decades.
Macron welcomed his counterpart with a warm greeting in Nigerian Pidgin English, stressing the cultural connection between the two leaders.
“Na big honour for France to welcome you for dis state visit,” he wrote on social media.