UBA Secures Deal To Launch Full Banking Operations In France
United Bank for Africa (UBA) has officially signed a landmark agreement to commence full banking operations in France, marking a significant milestone for the Nigerian banking giant. The announcement came on Thursday during President Bola Tinubu’s state visit to France, aimed at strengthening economic and diplomatic ties between the two nations.
The historic signing took place in the presence of President Tinubu and his French counterpart, Emmanuel Macron. Tony Elumelu, Chairman of the UBA Group, signed the agreement alongside France’s Finance Minister, Antoine Armand. The partnership underscores French government support for UBA’s expansion into the European financial landscape.
Speaking at the ceremony, Elumelu highlighted the importance of the move for international banking and UBA’s strategic vision. “This partnership reinforces our commitment to seamless international banking services for our customers, not just across the 11 Francophone African countries we serve, but Africa as a whole and French and European customers transacting with Africa,” he stated.
Elumelu further described the expansion into France as a natural progression for the bank, with Paris set to become its European Union hub. The French capital will join London, New York, and Dubai as key nodes in UBA’s global financial network.
This development positions UBA among Nigeria’s tier-1 banks with a physical banking presence in France, a strategic move to enhance Africa-Europe economic connectivity.
Strengthening Bilateral Ties
President Tinubu’s visit to France represents the first official state visit by a Nigerian leader to Paris in over 20 years. Macron welcomed Tinubu warmly, even using Nigerian Pidgin English in a social media post: “Na big honour for France to welcome you for dis state visit.” The gesture underscored the cultural connection and mutual respect between the two nations.
The visit and the UBA agreement signify a renewed commitment to fostering deeper economic collaboration between Nigeria and France. With this expansion, UBA is set to play a pivotal role in bridging financial systems across continents while bolstering Nigeria’s economic presence on the global stage.
