United Bank for Africa (UBA) has finalized a landmark agreement to commence full banking operations in France. This development was announced on Thursday as part of President Bola Tinubu’s state visit to France.
The agreement, signed by UBA Group Chairman Tony Elumelu and French Finance Minister Antoine Armand, marks a significant milestone in UBA’s expansion. The signing ceremony, held in the presence of Tinubu and French President Emmanuel Macron, underscores the French Government’s support for UBA’s entry into the French banking sector.
Speaking at the event, Elumelu emphasized the strategic importance of this move for UBA and its customers. “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,” Elumelu said.
He added, “Expanding into France is a natural progression, with Paris serving as our European Union hub as we continue to bring Africa and the world together through innovative financial solutions. Paris will join London, New York, and Dubai as a critical component of our unique global network.”
With this agreement, UBA becomes one of Nigeria’s tier-1 banks to establish a presence in France, further bolstering its international footprint.
The signing coincided with Tinubu’s two-day state visit to France, the first official visit to Paris by a Nigerian leader in over 20 years. The visit aims to deepen economic and diplomatic relations between the two countries.
Macron extended a warm welcome to Tinubu, even addressing him in Nigerian Pidgin English on social media, writing, “Na big honour for France to welcome you for dis state visit,” reflecting the cultural connection shared by the two leaders.
