ABUJA, Nigeria (VOICE OF NAIJA)-Nigeria has intensified efforts to strengthen financial cooperation with the United Arab Emirates as part of moves to attract credible foreign capital to drive economic growth.
This followed a strategic engagement between the Minister of State for Finance, HM Doris Uzoka-Anite, and top executives of First Abu Dhabi Bank over the bank’s plan to establish a branch in Nigeria.
The discussion centred on enhancing financial intermediation, boosting capital inflows and expanding banking services to support Nigeria’s ongoing economic reforms and development agenda.
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According to a statement, the talks explored opportunities for enhanced financial collaboration between both countries, with a focus on leveraging international capital to deepen Nigeria’s financial sector.
Uzoka-Anite reaffirmed the Federal Government’s commitment to creating an investor-friendly environment, stressing that Nigeria remains open to partnerships that will support sustainable economic development.
She noted that the proposed entry of First Abu Dhabi Bank into the Nigerian market was a positive signal, saying it “reflects growing international confidence in Nigeria’s reforms and improving investment climate.”
The minister added that strengthening ties with reputable global financial institutions aligns with the government’s broader objective of positioning Nigeria as a leading investment destination in Africa.
First Abu Dhabi Bank is one of the largest financial institutions in the Middle East, and its planned expansion into Nigeria is expected to further deepen financial ties between Nigeria and the UAE, while providing additional support for trade, investment and economic growth.