President Bola Tinubu’s economic reforms are spurring trade financing and cross-border investment, exemplified by Zenith Bank’s new branch in the United Kingdom (UK), Minister of State for Finance Taiwo Oyedele said on Wednesday.
Oyedele, who represented President Tinubu at the inauguration, attributed the bank’s expansion to the Federal Government’s policy shifts designed to stabilize the macroeconomy, easing taxes and boosting the financial system.
“These reforms are positioning Nigeria as a more competitive destination for global capital,” Oyedele said, enabling local banks to expand abroad and smooth international transactions.
President Tinubu hailed the milestone in a statement as a “strong vote of confidence” in Nigeria’s financial sector, while praising Manchester and the United Kingdom for sustaining economic ties.
NewsQuest reports that opening of UK Zenith Bank branch is coinciding with President Tinubu’s state visit to Britain — the first by a Nigerian leader in nearly 40 years — signaling deeper cooperation on trade, investment and diaspora links.
Industry figures described the move as evidence of Nigeria’s banking sector maturing, with better-capitalized institutions adopting advanced technology and a global outlook.
Manchester, a hub for innovation outside London, offers fresh opportunities in enterprise and industry.
Attended by officials from both nations, including Zenith’s founder Jim Ovia and its chief executive, Dame Adaora Umeoji, the event signifies Nigerian banks’ rising role in channeling global capital homeward.
Officials said the branch is poised to expand diaspora services, trade finance and investment between the countries.
