First Bank of Nigeria Limited is the full name of FirstBank. FirstBank has been able to attain great heights with its status culminating into one of the most influential banks in Africa.
With the inception in 1894, the bank has grown in stature and has now become the first bank in Nigeria.
The legacy of growth and stability within the Nigerian banking sector and the entire African continent has stood the test of time.
Also check: Ecobank Nigeria – The Pan African Bank
A Brief History of First Bank of Nigeria
130 years of Leading Banking Services
First Bank of Nigeria has a very rich history which dates back to when Sir Alfred Jones established it under the name British Bank for West Africa (BBWA) in the UK.
The British Empire had financial needs during its colonialist rule, and BBWA opened a branch in Lagos primarily focused on addressing the banking concerns of Nigerian and British traders.
Thereafter, the bank went through evolution, which made it relevant and an important institution in Nigeria during the colonization of the region as well as after its independence.
The name was officially changed to First Bank of Nigeria Limited in 1979 to reflect the bank’s ownership and wider relevance to Nigeria’s growing economy.
Since then, it has positioned itself as a leader in customer service and financial innovation, serving millions of customers and businesses across all regions of Nigeria and beyond.
By 2024, First Bank Group had 700 commercial centers across the continent with further stationed banking offices in over 820 business outlets in Africa, Nigeria to be particular.
The group is a retail banking institution with an emphasis in the West Africa zone where it has over 42 million clients.
In total approximately 16000 employees work for First Bank. The organization has 4 main strategic business units which include retail banking, corporate banking, commercial banking and public sector banking.
In 2024, FBN Holdings had 16.9 trillion naira in assets. It was also the first half of 2024 when the bank published its financial statement, showing that its amount before tax earned was 411.9 billion naira during the period.
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First Bank of Nigeria Vision
- To be Africa’s Bank of first choice.
First Bank of Nigeria Mission
- To remain true to our name by providing the best financial services possible.
First Bank of Nigeria Board of Directors
- Ebenezer Olufowose (Chairman)
- Olusegun Alebiosu (MD/CEO, FirstBank Group)
- Ini Ebong (Deputy Managing Director)
- Oluwatosin Adewuyi (Executive Director)
- Oluseyi Oyefeso (Executive Director)
- Patrick Iyamabo (Executive Director)
- Shehu Aliyu (Executive Director)
- Wale Oyedeji (Non-Executive Director)
- Aderemi Lasaki (Non-Executive Director)
- Tope Omage (Non-Executive Director)
- Akinwumi Fanimokun(Non-Executive Director)
- Akinwunmi Akinfemiwa(Non-Executive Director)
- Remilekun Odunlami (Non-Executive Director)
- Tunde Alao-Olaifa (Non-Executive Director)
- Anil Dua( Non-Executive Director)
First Bank of Nigeria General Managers
- ANI-MUMUNEY, MRS. FOLAKE – Group Head, Marketing & Corporate Communications
- MGBEOKWERE, MR. RAYMOND CHUKWUEZUGO – General Counsel, FirstBank Group
- SITU, MR. OLAYINKA OLUWAROTIMI – Head, Corporate Transformation
- GEORGE, MR. OLORUNTIMILEHIN – MD, First Pension Custodian Nigeria Limited
- ASANTE, MR. VICTOR YAW YEBOAH – MD, FirstBank Ghana
- ADELEKAN, MR. OLALEKAN BABATUNDE – Executive Director, Business Development, FirstBank UK
First Bank of Nigeria Services and Offerings
FirstBank serves as a perfect vantage point for people, companies and corporate clients through its assortment of financial products and offerings.
These include the following:
- Retail Banking: Savings accounts and loans together with general financial advice to individuals and families.
- Corporate and Commercial Banking: Providing finances, cash management and other trade services for small, medium, and large enterprises.
- Digital Banking: Taking advantage of modern technologies for use in banking such as online banking, a mobile banking application, and use of USSD channels.
- Wealth Management and Insurance: Growth and protection of customers’ wealth through investing and insurance solutions.
First Bank of Nigeria Keeping Up with Digital Changes
FirstBank has been at the center of all changes made in the country’s financial services landscape in Nigeria.
The bank has a branch network in excess of 700 locations in Nigeria and other countries but its emphasis on digital capabilities has changed the way clients are served.
First Bank access always on-the-go with its mobile and online applications that are available 24*7.
The first mobile application allows transferring funds, paying bills and taking out loans within a matter of minutes.
Its service has successfully promoted the concept of financial inclusion through its USSD code Quick Banking *894#.
Other Services Offered By First Bank of Nigeria
- Quick Banking with FirstBank USSD Code *894#
- Trustee and Escrow Management Services
- Treasury and Cash Management Services
- Multilateral and Intervention Funds Support
- Non Oil Export
- FirstMobile
- FirstGem
FirstBank’s Impact on Nigeria’s Economy
FirstBank has made a great impact in the economy of Nigeria and positively contributed to its growth.
They have enabled firms across the economy to thrive by providing funding to facilitate the financing of infrastructure projects and supporting SMEs.
Furthermore, the bank has enhanced financial inclusion as a great number of rural Nigerians and people in less developed areas have access to safe banking as well as the necessary financial education.
The company collaborates with a number of technological start ups so as to remain relevant, let alone being one of the players in the growing fintech space.
In addition, it has demonstrated sustainable banking as such making economic growth compatible with the environment.
FirstBank Corporate Social Responsibility (CSR)
At FirstBank, we are dedicated to developing our employees, reducing our environmental impact, serving our customers’ requirements, and investing in the communities in which we operate.
Our dedication to nation-building underpins our three-pronged approach to corporate responsibility and sustainability (CRS), which includes citizenship, stakeholder management, and impact management.
Citizenship and stakeholder management entails taking into account the requirements of stakeholders when making choices, whereas impact management entails reducing negative consequences and enhancing positive inclusive benefits on society.
It is about generating long-term stakeholder value by capitalizing on opportunities while managing the related environmental, social, and governance risks.
First Bank of Nigeria Contact Details
First Bank of Nigeria Head Office Address
First Bank of Nigeria Ltd.
Samuel Asabia House
35 Marina
P.O. Box 5216,
Lagos,
Nigeria.
First Bank of Nigeria Helpdesk
FirstContact
Tel: +234 1 905 2326
Tel: +234 708 062 5000
Tel: +234 1 448 5500
Email : FirstContact.Complaints@firstbankgroup.com
Help Desk: Fbn_help on twitter
International Presence
Although FirstBank is predominantly a Nigerian bank, it is also engaged internationally. The bank has a presence in countries such as the United Kingdom as well as across Africa in Ghana, Sierra Leone, and The Gambia, which allows it to serve its global clients while promoting international banking and trade.
Careers at First Bank of Nigeria
Are you interested in working with First Bank of Nigeria?
Visit the Career Page of First Bank to apply for a job that suits your qualification and experience.
Also recommended: First Bank Past Questions and Answers (Free PDF Download)
FirstBank’s Vision for the Future
Because of the changes that are happening in the economy as a result of technology and the needs of customers, there is a need for change which FirstBank has embraced changing for the better.
With this commitment to growing individuals and businesses, providing access to finance, technology, and environmental considerations FirstBank has the potential to positively influence the progress of Nigeria and even extend her influence to other countries.
Concluding Thoughts
More than just a universal bank in Nigeria and the African continent, First Bank of Nigeria Limited plays a vital role in sustaining the economic growth of the country and being a dependable business associate for clients for many years.
FirstBank’s legacy of overcoming challenges through innovation and creating a positive social change to enable a positive legacy that will last for generations and be regarded as an excellent bank in Africa.
If you’re considering a banking experience that combines tradition with modernity and an unwavering commitment to customer satisfaction, FirstBank is undoubtedly a name you can trust.
FAQs – First Bank of Nigeria Limited
Is First Bank of Nigeria a limited company or PLC?
It was originally a public limited company (PLC) with shares listed on the Nigerian Stock Exchange. After reorganization in 2012, the commercial banking operations were separated and are now known as First Bank of Nigeria Limited, while the holding company is FBN Holdings Plc.
So FBN Holdings Plc is the publicly traded entity.
First Bank of Nigeria Limited is a subsidiary of FBN Holdings and operates as a commercial bank, and it is a limited company.
What is the new name of First Bank of Nigeria?
According to Premium times, Shareholders agreed “that there should be a change of the legal and brand names of the Company from FBN Holdings Plc and FBNHoldings to First Holdco and FirstHoldco Plc,” the company stated in a note to the Nigerian Exchange.
How do I contact First Bank of Nigeria PLC?
First Bank of Nigeria Helpdesk
FirstContact
Tel: +234 1 905 2326
Tel: +234 708 062 5000
Tel: +234 1 448 5500