The Central Bank of Nigeria has approved Greenwich Holdings Limited as a financial holding company for Greenwich Merchant Bank, marking a major milestone for the group
The Central Bank of Nigeria (CBN) has granted approval for the establishment of Greenwich Holdings Limited, a financial holding company for Greenwich Merchant Bank Limited.
Also read: CBN urges Nigerians to report cash withdrawal issues at Banks and ATMs
This regulatory approval marks a significant milestone for the Greenwich Group, providing the framework for consolidating its financial service businesses and expanding into new markets.
In a statement released on Tuesday, Greenwich Merchant Bank expressed that the approval was an important step towards strengthening the Group’s position as a leading player in Nigeria’s financial sector.
The newly established Greenwich Holdings Limited will oversee Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, and Greenwich Securities Limited.
The company’s mandate will also include driving the expansion of the Group into new and emerging markets.
Ozena Utulu, the Head of Corporate Communications at Greenwich Merchant Bank, emphasised that the approval was a testament to the Group’s commitment to excellence, hard work, and its long-standing reputation as a trusted partner in the financial industry.
“Greenwich Holdings Limited represents a new chapter in the unparalleled growth which began with Greenwich Trust Limited, a foremost provider of financial solutions that commenced operations in June 1994 as a financial adviser and issuing house.
The SEC-regulated firm later applied to the Central Bank of Nigeria for the conversion of its operations, which led to the establishment of Greenwich Merchant Bank Limited in 2020,” Utulu explained.
Over the past 30 years, Greenwich has significantly expanded its presence in various segments of the financial sector.
This includes its subsidiaries and affiliated entities such as Greenwich Registrars and Data Solution Limited, and Greenwich Trustees Limited.
The establishment of Greenwich Holdings Limited represents a strategic move in the company’s long-term vision to continue growing and diversifying within Nigeria’s competitive financial market.or, CBN Approval
