105-year-old Union Bank launches co-creation hub, SpaceNXT, in Lagos

Nigeria’s 105-year old financial institution, Union Bank, has launched SpaceNXT, a technological and innovation hub, in Nigeria’s seat of commerce, Lagos.

The bank revealed this on Friday in a press release forwarded to Ripples Nigeria.

According to the bank, the development was “to promote innovation and encourage collaboration within the tech ecosystem in Nigeria.”

Described as a future-forward purpose designed co-working hub for innovators, creators and techpreneurs, the facility is located within the Union Bank Head Office in Lagos.

Commenting on the significance of the facility to the tech ecosystem, Union Bank’s Executive Director and Head in charge of Retail Banking and Digital, who spoke during the launch ceremony, noted that there was need to creating enabling environment for the development of technology in the country.

She said: “Globally, technology and innovation are key drivers of growth, and here in Nigeria, the tech community is at the forefront of our ongoing digital revolution.

“To unlock the massive potential of the sector, we must create an enabling environment that promotes collaboration and fosters strong partnerships within the ecosystem, this is why we launched SpaceNXT – to serve and enable the growth of the tech community.”