NOVA Merchant Bank: Quick Facts
NOVA Merchant Bank Limited is a prominent financial institution in Nigeria, holding a merchant banking license. It specializes in various financial services, including wholesale banking, investment banking, advisory services, securities, asset management, trade services, financial intermediation, cash management transactions, and digital banking.
Ownership and Vision
Ownership: NOVA Merchant Bank is owned by a mix of Nigerian and international institutional investors, who have extensive experience in financial services and the real sector. These investors are committed to transforming the African financial services landscape through innovative solutions and fresh thinking.
Services Offered by Merchant Banks
Merchant banks, such as NOVA, cater primarily to large corporations and high-net-worth individuals. Their services include:
- Loan Services: Providing substantial loans tailored to the needs of large entities.
- Financial Advising: Offering expert advice on financial planning, investment strategies, and mergers and acquisitions.
- Private Equity: Investing directly in private companies, typically for ownership stakes.
- Fundraising Services: Assisting in raising capital through various means, including equity and debt offerings.
Unlike commercial banks, merchant banks do not typically provide services to the general public, though they may have retail and commercial banking divisions.
Key Personnel
Company Secretary: Nnadozie Ohaji serves as the company secretary and general counsel at NOVA Merchant Bank. With a strong legal background and expertise in governance and corporate secretarial practices, Nnadozie plays a crucial role in the bank’s operations.
Transition to Commercial Banking
Commercial Bank Conversion: NOVA Merchant Bank is in the process of converting to a full commercial bank. This transition follows the acquisition of a national commercial banking license, allowing the bank to expand its services to a broader clientele.
SWIFT Code
For international transactions, NOVA Merchant Bank’s SWIFT code is NVMBNGLAXXX. This code is essential for secure and efficient cross-border financial communications.
Contact Information
Addresses:
- 23 Kofo Abayomi, Victoria Island, Lagos, Nigeria
- 18 Kofo Abayomi, Victoria Island, Lagos, Nigeria
Phone: 0800TIP-OFFS (0800 847 6337) – Toll-Free
Email: tip-offs@deloitte.com.ng
Web Portal: Deloitte Tip-Offs
Operations: The bank operates from Monday to Friday, providing a range of financial services to its clients.
Summary
NOVA Merchant Bank Limited is a key player in Nigeria’s financial sector, offering a wide range of sophisticated banking services. Owned by seasoned investors, the bank is poised to enhance its market presence further by transitioning into a full commercial bank. With a robust legal and governance framework, NOVA continues to provide innovative financial solutions tailored to the needs of corporations and high-net-worth individuals.
