By Providence Adeyinka
An investment firm, UK Dion Group, has set its plan in motion to float a commercial bank by 2026 even as it unveiled its Corporate Head Office to drive expansion plan.
UK-Dion Group started operations in 2017, investing in real estate, logistics, manufacturing, entertainment, banking and finance businesses, through which its seven subsidiaries have generated employment for over 400 people across the country.
Speaking at the grand opening of the company’s corporate head office in Lagos, Group Managing Director and Chief Executive, UK-Dion Group, Mr. Michael Diongoli, said that it has a five years plan to float a commercial bank to further drive efficiency in the banking sector, and a two years plan to establish an insurance and pension firm.
Diongoli stated: “Currently we own a microfinance bank which is one of our subsidiaries. In the MfB space we want to learn and make all the mistakes we want to make and keep on improving.
“We have employed more than 400 direct employees, who come to work every single day and work for us, but that is not the goal, it is just a starting for us, we would continue to create job opportunity we are not stopping.
“We started as an investment company but we now have subsidiaries and we are now group of companies. We are into microfinance, real estate, logistics, entertainment, forex, we would continue to grow the economy and do what we have been doing.
“The idea is not about subsidiaries but adding values and ensuring we keep investing here in Nigeria, the core reason the company was established is to create employment for Nigerians and that is the reason I came to Nigeria, we always want to create opportunity for Nigerians so we don’t have brain drain where people go and look for greener pastures elsewhere.” he said.
To attract investments into the country, he said it is imperative for government to provide security and ensure the economy is good enough to attract Foreign Direct Investment, FDI into the country, ensure the issue of power and insecurity is taken care of.
“We look at the opportunity the country presents and not the challenges. We as citizens have our role to play and that is what we have focused on. I am contributing my quota by adding value. We would continue to invest here, support businesses while also creating jobs, our focus is solving problems,” he said.
Also, Managing Director, Investment, UK- Dion, Nnenna Amazu, said that the firm has been able to put the square boxes in the right square holes.
Amazu who said that it is able to recoup returns on investment because of its ability to invest right, said: “We have stayed strong all through despite challenges but that doesn’t entail we are running at a loss. Because we are investing right, we are able to recoup returns on investment.
“We are an asset management company with a difference because we are careful in managing the investment of our investors. We have promised our investors of the safety of their investment.
“We launched our iconic presence, we are here and it didn’t take us so long to get to where we are. In a short time we are going to take over the asset management industry, finance, logistics and other industries that our subsidiary touches,” she said.