The Lagos State Government has commended Greenwich Bank Limited for opening its first three commercial banking branches in Lagos, describing the expansion as a positive development that would support financial inclusion, wealth creation and economic growth in the state
Greenwich Bank on Friday, October 2, 2026, officially opened branches in Surulere, Ikoyi and Victoria Island, marking the first major phase of its physical branch rollout following its transition from a merchant bank to a commercial bank with regional authorisation
Lagos State Governor, Babajide Sanwo-Olu, represented by the Commissioner for Finance, Abayomi Oluyomi, said Greenwich Bank had an important role to play in the economic development of the state, particularly given its decades of experience in Nigeria’s financial services industry
The Governor, who commissioned the bank’s Awolowo Road, Ikoyi branch, expressed optimism that Greenwich would support individuals and businesses while contributing to the continued growth of the Lagos economy
“Lagos needs banks like Greenwich to expand business opportunities, and we are confident that Greenwich Bank will support businesses and customers to grow The entrance of the bank into the state’s financial ecosystem is very important to the business enterprise of the state,” he said.
The bank disclosed plans to open branches in Akure, Ondo State, and Ado-Ekiti, Ekiti State, with further expansion planned across the South-West, South-South and North-West regions, as well as the Federal Capital Territory
It said in a statement that it also plans to pursue a national banking licence in the medium term
The expansion follows regulatory approval granted in August 2026 for Greenwich to operate as a commercial bank The new licence expands its services beyond traditional merchant banking to include retail customers, small and medium-sized enterprises (SMEs), commercial organisations and public-sector institutions.
Group Chairman of Greenwich Holdings Limited, Kayode Falowo, said the bank would establish additional branches within the regions approved by the Central Bank of Nigeria (CBN)
According to him, Greenwich would bring the discipline and professionalism of institutional banking to the everyday financial needs of Nigerians
Chairman of Greenwich Bank Limited, Segun Olekutuyi, described the branch openings as a significant milestone and the beginning of a new chapter for the institution He said the bank would focus on quality products and services, integrity, speed and value for customers.
Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, commended the bank’s board for its vision, noting Greenwich’s contribution to Nigeria’s financial system over the decades
Group Managing Director of Greenwich Holdings, Oyewale Ariyibi, said the group would continue to strengthen its capital base, expand its retail financial services footprint and accelerate digital transformation
Managing Director of Greenwich Bank, Benson Ogundeji, said the commercial banking licence would enable the institution to build on its corporate and institutional banking heritage while extending its relationship-driven model to individuals, SMEs and a wider range of businesses
He said Greenwich’s strategy combines physical branches with digital banking to provide customers with accessible, convenient and responsive financial services
Greenwich Holdings comprises Greenwich Bank Limited, Greenwich Asset Management Limited and Greenwich Securities Limited, alongside Greenwich Registrars and Data Solution Limited and Greenwich Trustees Limited