12 February 2018

Nigeria: Commerzbank Assures Customers of Improved Services, Marks 10 Years Anniversary

Commerzbank Nigeria, a leading international financial institution, which provides support to local commercial banks worldwide, has marked its 10 years of business operations in Nigeria.

The event, which took place in Lagos recently, forms parts of the company's commitment to the wellbeing and socio-economic development of Nigerians, and showcases its strong belief in the Nigerian economy and continued relationship with stakeholders in the banking sector.

Significantly, Commerzbank Nigeria, in the last 10 years has built a tradition of excellence, offering its various clients highly innovative financial support aimed at enhancing the growth and development of commercial banks in the country.

Senior Representative, Commerzbank, Olaf Schmuser, in his remarks, said the celebration was a pointer to the bank's rich history in Nigeria as well as the longstanding relationship it has enjoyed since its operations in the country.

He said, "Commerzbank has been doing business in Africa especially in Nigeria since 1953 and it has a long standing relationship and long history in Nigeria. The company appointed a country manager earlier in the 80's and it took us time to open our own office; but now we have six people here on ground hence, we are here to stay and we are here to do business in Nigeria."

He disclosed that the outlook for 2018 is promising and assured stakeholders of better and greater services, stating that the company was optimistic about putting everything into consideration. He added that the business will grow tremendously despite the challenges of previous years.

On the ease of doing business in Nigeria, Schmuser commended the current effort of the Federal government for creating the enablement for foreign investment to thrive.

"Let me start with getting into Nigeria, now it is much easier as we have the visa on arrival with so much construction going on and with the situation pretty much okay as compared to 2016 where we saw scarcity of dollar. However, this was really handled by the Central Bank Nigeria as everything is now available and we are looking for ways to do more business here," said Schmuser.

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