Sanwo-Olu: Lagos Financially Credible, We’ll Never Default On Loan Repayment

Posted on May 4, 2022

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Wednesday said the State is a financially credible government to financial institutions, noting that Lagos State Government has never defaulted in terms of repayment and other responsibilities. 

Governor Sanwo-Olu made the statement on Wednesday when the management of Parallex Bank Limited led by its Managing Director, Olufemi Bakre, paid him a courtesy visit at the Lagos House, Marina. 

He said Lagos State Government is open to doing business with any financial institutions, adding that his administration will continue to encourage all players without giving anyone unnecessary advantage.  

Sanwo-Olu said his government is service-driven based on the administration’s commitments to the citizens by improving quality of lives, providing security of lives and properties and providing a friendly and conducive environment for businesses to thrive.   

“We are open to doing additional businesses with any of the financial institutions. Lagos will continue to be a major player in the public sector space and we are very disciplined because we never default on all our responsibilities in terms of repayment and others. So, I am very sure that we are a credible creditor to banks,” he said. 

Governor Sanwo-Olu also received the management of the LOTUS Bank Limited led by its Managing Director, Kafilat Olaoye, during a courtesy visit at the Lagos House, Marina on Wednesday.  

Speaking during the courtesy visit, Governor Sanwo-Olu said his administration is embarking on developmental projects in different parts of the state to create value for residents of Lagos State. 

He said Lagos State Government will continue to collaborate with partners and stakeholders in the private sector who want to contribute to the growth and development of the state. 

In his address, the Managing Director and Chief Executive Officer (CEO) of the Parallex Bank Limited, Olufemi Bakre commended the Babajide Sanwo-Olu administration’s giant strides in Lagos State, noting that the incumbent government’s performance is visible in the area of transportation, health, making Lagos 21st Century economy, information and technology, security and governance. 

He said his bank is ready to partner with the government to finance some State developmental projects like the Fourth Mainland Bridge.   

The Managing Director of LOTUS Bank, Kafilat Olaoye, who said her organisation is ready to partner with the Lagos State Government in developmental projects, said Governor Sanwo-Olu has done a lot in the last three years and deserved a second term in office based on the recent endorsement of the Governor for reelection in 2023. 

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