May 20, (THEWILL) — After more than four decades without a formal banking relationship, the Permanent Mission of Nigeria to the United Nations in New York is set to open an account with the United Bank for Africa (UBA) following a directive by Nigeria’s Permanent Representative to the UN, Jimoh Ibrahim, who described the situation as unacceptable.
Ambassador Ibrahim issued the directive during a meeting with UBA officials in New York, where he underscored the importance of promoting Nigerian-owned businesses abroad in line with the Federal Government’s local content and public-private partnership agenda.
According to a statement issued by his media office in New York, the envoy expressed surprise that, despite both the Nigerian Mission and UBA operating in New York for more than 42 years, no official banking arrangement had been established between them.
“Let me thank you for taking the time to come and see me. While reviewing our account, I asked the Financial Attaché if he was aware that UBA is here in New York, and he confirmed he was. However, I am surprised to learn that even though your office has been here for the past 42 years — just like our permanent mission — we don’t have any account with you, not even a deposit account”, Ibrahim stated.
The ambassador stressed that the situation did not reflect the level of collaboration expected between Nigerian government institutions and indigenous private sector organisations operating internationally.
He said President Bola Tinubu would expect stronger synergy between public institutions and Nigerian businesses abroad to advance the country’s economic and diplomatic interests.
“I need to address this unacceptable situation because President Bola Tinubu would not be pleased if, after some days of resumption, I cannot facilitate a partnership between the Nigerian government and the private sector for collaborative results. Therefore, within seven days, the Financial Attaché must open an account with you”, he added.
Ambassador Ibrahim also encouraged Nigerian private sector operators in the United States to engage more actively with the Nigerian Mission in New York, noting that the Mission House belongs to all Nigerians and should serve as a platform for investment promotion, business collaboration and economic diplomacy.
He further explained that opening the account would enhance transparency, accountability and operational efficiency while also enabling the Mission to support relevant government agencies whenever necessary.
Responding, the Chief Operating Officer of UBA New York, Osilama Idokogi, commended Ibrahim for his patriotism and commitment to projecting Nigerian institutions positively on the global stage.
Idokogi stated that UBA would be delighted to commence formal banking relations with the Nigerian Mission after several years of unsuccessful attempts to establish such a partnership.
The development is expected to deepen institutional cooperation between Nigeria’s diplomatic missions and indigenous financial institutions abroad, while reinforcing the Federal Government’s drive to strengthen local content participation in international engagements.
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