By Chinyere Joel-Nwokeoma

FSDH Merchant Bank has emerged the pioneer Custom Duty Collecting Bank in Nigeria, effective Oct. 2, 2019.

Mrs Hamda Ambah, FSDH Managing Director, said in a statement in Lagos that the bank begun operations as the pioneer Custom Duty Collecting Bank in Nigeria on Oct. 2.

“On Oct. 2 2019, after a series of testing phases, FSDH Merchant Bank officially begun operations as the pioneer Custom Duty Collecting Bank in Nigeria,” Ambah said.

She said that the collection followed talks with the Nigeria Customs Service Board (NCSB) in 2018 to obtain a license to operate as a Custom Duty Collecting Bank which was granted in May 2019.

Ambah said that the milestone had since then paved the way for other Merchant Banks across the country to be afforded the same opportunity.

She stated that FSDH was also the first Merchant Bank  first in Nigeria to re-structure into a Holding Company.

According to her, the bank in November 2012 became the First Discount House to become a Merchant Bank in Nigeria.

Ambah said that FSDH had over the years become a financial supermarket that delivers expert financial services within Nigeria and to select clientele to create long-term sustainable wealth.

She said that the bank engages in services such as corporate banking, investment banking and prestige banking, among others.

Ambah said that FSDH Merchant Bank had been rated A and A- for the year 2019 by prestigious agencies like Agusto & Co. Limited, and Global Credit Ratings Co. (GCR) due to its sustained record over the years.

She noted that FSDH Merchant Bank would continue to maintain the status quo as being an innovative industry leader.

“As another decade slowly comes to an end, we celebrate FSDH Merchant Bank for constantly championing and paving the way for innovation in the financial services industry across Nigeria,” she added. (NAN)

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