Nigeria’s banking group, the United Bank for Africa (UBA), has signed an agreement to begin banking operations in France. In a statement on Thursday, the banking group announced that this major business collaboration with the French Finance Minister, Antoine Armand, was part of President Bola Tinubu’s official visit to France.
During the visit, UBA Group Chairman Tony Elumelu signed the agreement with President Tinubu and French President Emmanuel Macron, showcasing the French Government’s support for establishing UBA’s full banking activities in France.
At the signing event, Elumelu said, “This collaboration strengthens our dedication to providing seamless international banking services not only to our customers across the 11 Francophone African nations we operate in but also to clients in Africa, France, and Europe engaged in transactions with Africa.
“Entering the French market represents a natural advancement for us, with Paris designated as our European Union headquarters as we strive to connect Africa with the rest of the world through cutting-edge financial solutions. Paris will now join London, New York, and Dubai as a vital part of our distinct global network.” He added.
With this agreement, UBA became one of the tier-1 banks in Nigeria that maintain banking operations in France.
Tinubu arrived in France on Thursday for a two-day official visit, with both nations aiming to enhance their economic and diplomatic relations. This marks a Nigerian leader’s first official state visit to Paris in over 20 years.
