SCB to support Federal Government’s infrastructure financing

Standard Chartered Bank (SCB) Nigeria has unveiled plans to support the Federal Government in infrastructure financing and other capital-intensive projects to grow the economy in a sustainable manner.

The bank is currently working with the government and other partners to boost infrastructure across the country.
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Speaking at an interactive session at the weekend, Executive Director, Corporate, Commercial and Institutional Bank, Olukorede Adenowo, said the bank would support government agencies in financing more infrastructure like railways, waterways and other projects.

He pointed out that the bank would also provide advisory services to its clients in the areas of infrastructure development.

According to him, more infrastructure projects would be rolled out this year and chances are that 50 per cent of any infrastructure project is financed by the bank.
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“Much is not heard about our commitment to the financing of infrastructure in Nigeria. We have been doing underground work on this. Again, we also support our corporate clients in manufacturing.

“We want to make sure that we help our customers navigate the turbulent period, especially in the issue of foreign exchange,” he said.
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On retail business, he said the bank is focusing on the affluent segment, investing heavily in technology and becoming more efficient in order to reach its clients anywhere in the country.

He said the bank would focus on bolstering its mobile banking capabilities and optimising its digital banking solutions to cater for the evolving needs of its customers.
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