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Lagos runs financially credible government – Sanwo-Olu

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Lagos State is financially credible as it has never defaulted in terms of repayment and other responsibilities to financial institutions.

Making this statement on Wednesday when the management of Parallex Bank Limited paid him a courtesy visit at the Lagos House, Marina, Governor Babajide Sanwo-Olu said that the government is open to doing business with any financial institutions, adding that his administration would continue to encourage all players without giving anyone unnecessary advantage.

He told the delegation led by the Managing Director, Olufemi Bakre that his administration is service-driven based on its commitments to the citizens through improving quality of lives, providing security of lives and property as well as a friendly and conducive environment for businesses to thrive.

“We are open to doing additional businesses with any of the financial institutions. Lagos will continue to be a major player in the public sector space and we are very disciplined because we never defaulted on all our responsibilities in terms of repayment and others. So, I am very sure that we are a credible creditor to banks”, he said.

Managing Director/CEO, Parallex Bank Limited, Mr Olufemi Bakre receiving a plaque from Lagos State Governor, Mr Babajide Sanwo-Olu, during a courtesy visit by the management team of the Bank, at Lagos House, Marina, on Wednesday

On his part, Bakre commended the Sanwo-Olu administration’s giant strides, noting that its performance is visible in the area of transportation, health, making Lagos 21st Century economy, information and technology, security and governance.

He said his bank is ready to partner with the government to finance some state developmental projects like the Fourth Mainland Bridge.

Sanwo-Olu also received the management of the LOTUS Bank Limited, led by its Managing Director, Mrs Kafilat Olaoye, during a courtesy visit at the Lagos House, Marina the same day.

The Governor said that his administration is embarking on developmental projects in different parts of the state to create value for the residents.

He added the state government would continue to collaborate with partners and stakeholders in the private sector who want to contribute to the growth and development of the state.

From left: Executive Directors, Lotus Bank Limited, Mr Isiaka Lawal; Executive Director, Alhassan AbdulKareem; Managing Director/CEO, Mrs Kafilat Araoye; Lagos State Governor, Mr Babajide Sanwo-Olu; Group Head, Retail Mainland, Risikah Adam-Adedimeji; Secretary to the State Government, Mrs Folashade Jaji and Commissioner for Economic Planning and Budget, Mr Sam Egube, during a courtesy visit by the management team of the Bank, at Lagos House, Marina, on Wednesday

For Olaoye, her organisation is ready to partner with the state government in developmental projects.

She said that Sanwo-Olu had done a lot in the last three years and deserved a second term in office based on the recent endorsement for re-election in 2023.

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