by Nurat Uthman
United Bank for Africa (UBA) has signed an agreement to commence full banking operations in France.
In a statement released late Thursday, the banking group described the landmark business cooperation agreement with the French Finance Minister, Antoine Armand, as part of President Bola Tinubu’s state visit to France.
During the visit, UBA Group Chairman, Tony Elumelu, signed the agreement in the presence of Tinubu and French President Emmanuel Macron. The agreement signifies the French Government’s support for the development of UBA’s full banking operations in France.
Speaking at the signing ceremony, Elumelu stated, “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 becomes one of the tier-1 banks in Nigeria to establish a banking presence in France.
President Tinubu arrived in France on Thursday for a two-day state visit aimed at strengthening economic and diplomatic ties between the two nations.
This marks the first official state visit to Paris by a Nigerian leader in over 20 year.
