Lagos State Deputy Governor Dr Obafemi Hamzat has highlighted the role of private sector investment in driving economic activity, job creation and the strength of the country's financial services sector. Speaking at the inauguration of Canary Point Holding Limited's new headquarters on Tuesday, Hamzat said that government and private institutions working together could develop financing solutions to make home ownership more accessible to low and middle-income earners.
Hamzat commended Canary Point Holding for its growth and expanding investment portfolio across multiple business lines, calling the company's development proof of entrepreneurial vision, strategic expansion and the capacity of local businesses to contribute to economic growth. He urged the group to strengthen its position by investing further in technology and cybersecurity, stressing that innovation, digital resilience and the protection of financial transactions were increasingly important for modern financial institutions. The Lagos State Government, Hamzat added, was prepared to explore a partnership with Canary Point Holding in the mortgage and real estate sectors to help residents access affordable housing.
The deputy governor, who is the All Progressives Congress governorship candidate for Lagos in the 2027 election, challenged the company to encourage healthy competition among its subsidiaries to drive performance and excellence. Long-term success, he said, would depend not only on expansion but also on improving service delivery, strengthening operational efficiency and developing solutions that meet changing customer needs.
Canary Point Holding Group Managing Director Ibrahim Idris said the group's development reflected a principle of understanding the needs behind financial transactions and building capabilities to address them. Idris explained that his experience at Sebastian Bureau de Change showed how customers' foreign exchange transactions served broader economic purposes, from paying overseas suppliers and school fees to supporting family members abroad. These insights led to the establishment of Swift & Allied Partners Limited in 2014 to provide lending services.
The group established Nairagram in 2016 to develop an Africa-owned payments network with global reach. The business now facilitates payments across 37 African countries and operates with licences in Nigeria, the United States, the United Kingdom and Canada. In 2018, Canary Point acquired Assets Microfinance Bank and began converting it into a digitally enabled bank. Senator Tokunbo Abiru, Chairman of the Senate Committee on Banking, represented by Senator Abass Iya, praised the holding company's contributions to the financial services and technology sectors.