NOVA Merchant Bank, the financial institution with the respected Philips Oduoza as Founder and Chairman is now a national bank.

It has started national commercial banking operations as NOVA Bank on the heels of approval by the Central Bank of Nigeria (CBN).

The bank with Wale Oyedeji as Chief Executive Officer and Managing Firector takes this high impact step with the opening of its first commercial banking branch at 18, Kofo Abayomi Street, Victoria Island, Lagos.

Here are five things you should know about this development.

1, Aside the addition of the new commercial banking branch to its existing structure, NOVA Bank has perfected arrangement to open additional branches in Lagos, Abuja, Port Harcourt, and Kano.

2, NOVA Bank starts its national banking operations with a high tech, seamless digital banking capabilities known as PHYGITAL which combines with strategically located branches (for personalized in-person service) in a fusion primed to endlessly soar customers experience. And complemented by a comprehensive suite of banking services tailored to meet the diverse needs of individuals, SMEs, and large corporations.

PHYGITAL is NOVA Bank’s trademarked pace-setting-cutting-edge financial digital solutions.

3, NOVA Bank comes into being on the strength of a fantastic half a decade run that earned NOVA Merchant Bank international recognitions and the rating as instrumental to the success of leading corporates and high-net-worth individuals, delivering tailored solutions to meet the unique needs of their businesses. By kick starting a national banking operations, the bank is evolving to serve a broader customer base with commitment to delivering innovative services and legacy as the leading merchant bank.

4, Chief Executive Officer Wale Oyedeji provided insight into NOVA Bank’s strategy to achieve its objectives with the disclosures that the bank is putting into play “disruptive seamless digital products and services to deepen financial inclusion, provide convenient and secure banking solutions, and elevate the SME market as a key economic driver”.

5, The issuance of the national commercial banking license underscores CBN’s confidence in the strength of the Bank that started operations in 2018 and  has firmly established its presence in Nigeria’s banking landscape and beyond by consistently surpassing market expectations, posting profits and strengthening its position as an investment grade leading financial institution both domestically and globally.