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Published On: Thu, Jun 12th, 2014

FCMB restates commitment to economic development

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FCMB bankFrom Ngozi Onyeakusi, Lagos

First City Monument Bank (FCMB) Limited has pledged to support agricultural sector and other sectors in order to fast-track the growth of the Nigerian economy.

The Group Managing Director/Chief Executive of of the bank, Mr. Ladi Balogun, disclosed this at the recently concluded Ogun State Investors Forum held at the state capital, Abeokuta.

The forum which is in its second edition was organised by the Ministry of Commerce and Industry in collaboration with the Ogun State Government. This year’s theme aptly titled “Ogun State – Open for Business” focused on the enhanced agricultural production sectors and accelerated urban development areas of the state, highlighting the abundant agricultural resources and investment opportunities which abound.

Mr. Balogun, who was part of the plenary session on, ‘’Financing Agriculture and Housing Development: Investment and Potentials’’, said that FCMB’s funding of the agriculture sector has been on the rise, adding that, “we have provided various lines of credit to the sector and its value chain, including small and medium scale businesses”. He added that the Bank is focused on being a strategic partner to the government and other stakeholders, ‘’because we believe that creating wealth and enhancing productivity, will also boost revenue generation

within the state which will ultimately lead to increased economic activity and development ’’.

The FCMB GMD pointed out that the challenges facing the agriculture sector can be eliminated if all stakeholders worked together by ensuring that the, ‘’entire lending process is streamlined’’.

Commenting on the Bank’s participation as one of the key sponsors of the Ogun State Investors Forum, Mr. Balogun explained that this is part of its contribution to the development of the state and demonstration of its resolve to play a frontal role in all initiatives that would boost the well-being of the society and its people. He assured that, ‘’we will continue to identify and implement initiatives that would leave positive and lasting impacts in areas that matter to the people across all states of the federation”. First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of personal and business aspirations of its customers.

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