Prince George’s County (Map, News) - Before leaving on a Nigerian trade mission last week, Prince George’s County Executive Jack Johnson said he planned to talk to businesses and institutions that he wanted to locate in the county.

On Thursday, Johnson announced that he signed an agreement with First City Monument Bank of Nigeria to build a subsidiary or affiliate in the county.

“Banking is so essential as a tool for international development,” said Johnson’s Chief of Staff Michael Herman, who accompanied him on the trip. “People need an investment vehicle.”

Herman said the bank and Prince George’s will both “strive to develop international business partners reciprocally: Prince George’s businesses doing business in Nigeria and Nigerian businesses doing business in Prince George’s.”

Before the bank can set up shop in Prince George’s, Herman said, there will need to be federal and state clearance. “The county and FCMB want to get moving on this immediately,” Herman said of establishing the bank.

Bank CEO Ladi Balogun plans to visit the county in December, when he will meet with local financial institutions and develop potential partners, the county said. “The county has seen phenomenal growth and so has the bank,” Balogun said in a statement. “This is a very natural partnership.”

Seven county businessmen of Nigerian descent, who are in fields from construction to engineering and health care, invited Johnson on the trip. He visited Lago, the Imo State, celebrated the 47th anniversary of Nigeria’s independence with political leaders and addressed the Nigerian Congress about the global marketplace during the trip.

Herman said Johnson also met with other businesses related to information technology, development, education, health care and other areas. “There may very well be other business agreements, which would be business-to-business agreements that would come as a result.”

dfowler@dcexaminer.com