Ireland to partner with Nigerian bank on technology development

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Irish Ambassador to Nigeria, Sean Hoy, has said that Irish companies are planning to partner with Coronation Merchant Bank, and other Nigerian companies in the areas of cyber security and Information and Communications Technology (ICT) development.

Hoy said cyber security and financial tech are some of the areas companies in Ireland could partner with Nigerian companies especially, financial institutions.

The Ambassador revealed this during a courtesy visit to Coronation Merchant Bank head office in Lagos.He said: “Today, we are one of the leading countries in Fintech. We are working with banks all over the world to provide financial solutions in a world that is becoming forever more complex. The Cyber security we have discussed today, we have Irish companies providing these specialised services. When I first came to Nigeria in 2014, people were afraid to use credit card, now, people are using credit cards all the time.”

While appreciating the possibility of doing business in Nigeria, the Ambassador explained that his perception about the country did not change until he came in 2014, which allowed him to now understand it better.

According to him, from abroad, Nigeria is seen as a very high-risk market, but the situation differs when you get here. “You can do business here and be successful,” he stated.

In his remarks, Managing Director/Chief Executive Officer, Coronation Merchant Bank, Abubakar Jimoh, said the envoy’s visit was focused on trade promotion, cyber technology, and strengthening relationship with Irish companies in the country.

Jimoh said: “We are going to partner with them. We have already started with some Irish companies and vice versa. Just like he mentioned in the area of cyber technology that is an area as a financial institution we have to be strong. As an institution that is going to focus significantly on Fintech, our relationship with Irish company cannot be taken for granted.

“As an investment bank, we advise institutions that are either trying to come into Nigeria or do export into country like Ireland. We are a very young merchant bank, as we grow bigger and get established,” he said.



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