Coronation Merchant Bank, Irish firms Partner on Cybersecurity

• Coronation Merchant Bank, Irish firms Partner on Cybersecurity

Coronation Merchant Bank has said it is collaborating with Irish firms on cybersecurity.

Its Managing Director/Group Chief Executive Officer, Abubakar Jimoh, stated this during a courtesy visit by the Irish Ambassador to Nigeria, Mr Sean Hoy, to the bank’s head office in Lagos.

He said their meeting focused on trade promotion, cyber technology and strengthening of relationship with Irish companies in the country.

Jimoh said, “We have already started with some Irish companies in the area of cyber technology. This is an area, as a financial institution, we have to be strong in. As an institution that is going to focus significantly on fintech, our relationship with Irish companies cannot be taken for granted.

“As an investment bank, we advise institutions that are either trying to come into Nigeria or export to countries like Ireland. We are a very young merchant bank, as we grow bigger and get established.”

In his remarks, Hoy said Irish companies were planning partnerships with Coronation Merchant Bank and other Nigerian companies in the areas of cybersecurity and Information and Communications Technology.

He said cybersecurity and financial technology were some of the areas Irish companies were partnering Nigerian companies, especially financial institutions.

The ambassador said, “Today, we are one of the leading countries in fintech. We are working with banks all over the world to provide financial solutions in a world that is becoming forever more complex. In the area of cybersecurity, which we have discussed today with Coronation, we have Irish companies providing specialised services. When I first came to Nigeria in 2014, people were afraid to use credit card. Now, people are using credit cards all the time.”

While appreciating the business opportunities in Nigeria, Hoy explained that his perception about Nigeria did not change until he came to the country in 2014.

He said this was equally important for Irish investors to understand Nigeria better.

The envoy said, “From abroad, Nigeria is seen as a very high-risk market. But when you come to Nigeria, it’s a different country to what you perceived before you travel. And that perception is something that, as an ambassador here, is also part of my role to ensure people in Ireland understand Nigeria better: that you can do business here, and you can be very successful here.”