Ex-Diamond Bank Boss, Otti, Others Float Signature Bank

Former group managing director of the defunct Diamond Bank, Dr Alex Otti and some of his friends have floated a new commercial bank, Signature Bank, which began operations in Abuja, yesterday.

Speaking at the official opening of the bank, Dr Otti, explained that the journey for the bank started in 2017 and was driven by a yawning gap that was identified, and a vacuum created by repeated unresolved complaints, poor responsiveness, and unsavoury customer experience encountered regularly from commercial banks in Nigeria.

Otti, who is also the governorship candidate of Labour Party in Abia State, Dr Alex Otti however, assured that he would not interfere in the day-to-day operations of the bank, adding that he would only play an advisory role to the management team.

He said had decided to give opportunities to the younger generation to pilot the affairs of the Signature Bank.

He explained that unresolved complaints by customers of various commercial banks in Nigeria and poor responsiveness of the institutions to challenges arising financial transactions were the major factors that led to the establishment of Signature Bank.