Dr. Alex Otti, former Group Managing Director/CEO of defunct Diamond Bank Plc and governorship candidate of Labour Party (LP) in Abia State in the 2023 elections, is set to float a new commercial bank, Signature Bank Limited, THE WITNESS reports.
THE WITNESS reliably gathered that the new regional licensed commercial bank will be unveiled this month at its headquarters located at 31B, Gana Street, Maitama, Abuja.
The new lender, when commissioned will provide personal, private and business banking services to the south-south, south-east, north-east region of the country, including Abuja.
Aside its Abuja office, insiders told THE WITNESS that the new bank is expected to begin operations with five other branches located in Port Harcourt, Enugu, Aba, Sokoto and Kano.
Otti is said to have poached a former senior banker in Zenith Bank Plc, Nonye Ayeni and another former senior official with Fidelity Bank Plc, Frank Anumele to lead the new bank.
While Ayeni, an experienced executive with hands-on experience of over 27 years in a variety of roles in the financial industry will oversee the bank as its managing director/CEO, Anumele, a former acting directorate head, South Bank with Fidelity Bank will act as its executive director.
With the entrant of Signature Bank into the Nigerian banking industry, industry watchers are sure of a fresh new scramble for recognition in a terrain filled with already established banks