Nigerian lender Zenith Bank has unveiled plans to expand into Dubai to serve its customers in trade and service sectors.
Zenith Bank CEO Peter Amangbo told CNBC Africa on the side lines of the World Economic Forum (WEF) Africa in Cape Town: "We are in the process of finalising the establishment of an office in Dubai. Dubai will be a subsidiary of Zenith Bank UK as the country will be a gateway into Asia.
"Because the volume of business between Nigeria and many Asian countries has increased over time we believe that Dubai would be a very good point to service our customers especially when it comes to trade and services."
Amangbo has greeted the biometric verification system in the financial sector with a positive note as it presented growth prospects in the financial space.
He added: "The biometric verification number system itself as a project is a very loadable one and would be a very good foundation for Nigeria through which it can drive growth in the banking business even to the unbanked."