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FCMB finances newly opened Radisson Blu Hotel in Lagos


Radisson Blu

First City Monument Bank (FCMB) demonstrated its commitment to the development of Nigeria and indeed the hospitality industry as it wholly financed the construction of the 155-room Radisson Blu Hotel located at Ikeja GRA in Lagos.

The newly acclaimed five-star hotel, which is the third in Nigeria and second in Lagos, was officially opened last week.

The hotel, owned by Avalon Intercontinental Nigeria, is under the management of Carlson Rezidor Hotel Group, owners of the Radisson Blu brand and one of the largest hotel and hospitality companies in the world with 1,440 hotels in operation spread across 115 countries.


The Managing Director of FCMB, Adam Nuru, said the decision of the bank to finance the project was in line with its commitment to support initiatives that would promote and add value to Nigeria’s hospitality industry, thereby boosting tourism.

“We are determined to lead the way in driving efforts to expand the Nigerian economy and make the revenue base much more robust. The hospitality and tourism industries are integral parts of this diversification strategy,” he said.

Nuru added that the bank’s financing of the hotel was also informed by its importance and benefits in the areas of attracting business and tourism, employment, revenue generation, relaxation and ambience in Lagos and Nigeria in general.

“We will continue to intervene and offer excellent support as well as solutions in developmental areas that would fast-track the growth of the aspirations of individuals, businesses and the entire country’,” he added.

The Senior Vice President, Africa and Indian Ocean, Carlson Rezidor Hotel Group, Andrew McLachlan, said: “We are thrilled to be expanding our presence in Nigeria, one of Africa’s economic powerhouses, with the opening of Radisson Blu Hotel Lagos, Ikeja.

“We have identified Nigeria as a key country for scaled growth and the addition of our second Radisson Blu in Africa’s largest city, Lagos, perfectly complements our development strategy.

“Today, we have nine hotels here, three open and six under development, including Abuja and Port Harcourt. So, we have 1,755 rooms in Nigeria today. The other six will be opened over the next four to five years”.

He commended FCMB for proving to be a worthy partner by providing the required funding and other support for the actualisation of the project.

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