The Federal Ministry of Transport has lauded Ecobankâ€™s contribution towards the development of transportation business in Nigeria .
The Ministry which gave the bank a Meritorious Service Award as Nigerian Bank with Best Transport Unit said the award is in recognition of the bankâ€™s activities that have contributed in no small measure to the development of transport business in Nigeria .
The award given in conjunction with Build-craft West Africa was part of activities that rounded off the 2010 Transport Week at the Muson Centre Lagos over the weekend.
Responding to media question on the award, Ecobankâ€™s Head, Domestic Products & Contact Center, Mrs. Funmi Ajayi said the bank merits the award as it has been in the forefront of transport projects financing in Nigeria.
This been part of its determined effort to ensure commuters comfort at all levels of transportation. In her words â€œthe award signifies that we have the personnel with a full grasp of the dynamics of transport finance and we are able to proffer superior solutions to challenges in transportationâ€.
Citing examples of Ecobankâ€™s support to the growth of the transport industry in Nigeria , Mrs. Ajayi said â€œour partnership with the Lagos Bus Rapid Transfer scheme (BRT) and the success of it, is a model that is being understudied by others even outside the country. We bought 100 buses at the start of the scheme and financed additional 50 buses earlier this yearâ€. This is a feat that has not been achieved by any other financial institution in the country.
Speaking further, she said Ecobank has partnered several other groups in the transportation business. These include Nsik motors in Uyo Akwa Ibom State, Airport Car Hire Association, Road Transport Employers Association, Abuja Leasing Company and many other transport related projects spread across the country.
Other awardees at the event include Union Bank, Arik Air, ABC Transport, Young Shall Grow Transport amongst others.
Incorporated as a public limited liability company on October 7, 1986, Ecobank Nigeria is a subsidiary of Africa â€™s leading independent banking group, Ecobank Transnational Incorporated (ETI). Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.
Ecobank is listed on the stock exchanges in Lagos , Accra and the West African Economic and Monetary Union (UEMOA) â€“ the BRVM. The Group is owned by more than 180,000 local and international institutional and individual shareholders.