The Urban Development Bank of Nigeria (UDBN) Plc will unveil its new identity today in Abuja, to “more accurately represent the bank’s new philosophy and ambition for the future.”
The bank’s managing director, Adekunle Oyinloye, said that the ceremony will be performed by the Finance Minister, Dr. Ngozi Okonjo-Iweala.
“The change in identity is in part, due to a need to change people’s perception of the bank. Our belief is that the new brand identity will serve to differentiate and underpin our corporate vision, mission and culture. “We have the competencies and values that go beyond the provision of finance,” he added.
UDBN was established by decree 51 of 1992 by the Federal Government to “foster the rapid development of urban infrastructure throughout the federation through the provision of finance and banking services.”
It was privatised in 2007 following injection of private-sector capital to kick-start its turn-around process.
The bank’s main focus was in transportation, mass housing, municipal services, water provision, solid waste management, power and renewable energy.