Business
Buhari Congratulates FBN on 40 Yeqrs of Cross-Border Banking in UK
President Muhammadu Buhari has congratulated the Board, Management, and Staff of First Bank of Nigeria Limited (FirstBank) for cross-border services through FBNBank UK in the United Kingdom for 40 years, sharing almost 130 years of banking experience.
In a statement signed by the Special Adviser to the President on Media & Publicity, Femi Adesina, Buhari noted the competence and professionalism that have become the hallmark of the Bank for many years.
This includes winning and retaining the trust of customers in Nigeria, and beyond, like in the United Kingdom, and successfully consolidating on its benchmark of reliability and professionalism.
“As the FBN, United Kingdom celebrates 40 years anniversary, the President believes the strength and buoyancy of any country depend largely on the capacity of the banking sector, extolling the organization for steady rise and expansion, with remarkable awards for transparency, accountability, and reliability,” the statement reads.
Buhari however, congratulates FBNBank UK for the milestone, and well-deserved acceptance and credence, urging the bank to further leverage on its strengths to retain the trust and confidence of the banking public.
FBNBank UK is a wholly owned subsidiary of the First Bank of Nigeria Limited, an African bank with a rich heritage, established in 1894 as the first banking institution in Nigeria.
FBNBank UK is authorised by the UK’s Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA).
Operating in the City of London with a branch in Paris and a representative office in Lagos, FBNBank UK provides a range of domestic and international banking and financial services.
Interestingly, it is the international banking and treasury centre of FirstBank and acts as connecting hub between the group and its regulatory, financial and social partners.
FBNBank UK equally provides world-class, cross border trade and investment services to institutions, corporates and individuals conducting business in and with Africa’s most dynamic and vibrant economies.
FBNBank UK has been operating in the United Kingdom since 1982 as the London Branch of the First Bank of Nigeria Limited.
It was initially established to service the UK banking requirements of Nigerian companies and FirstBank.
In November 2002, the Bank was incorporated in the UK as a registered and a wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London.
Since then, FBNBank UK has developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.
Access Bank Plc has responded to the reports making the rounds on social media concerning a former contact agent, who was alleged to have violated the privacy of some women in the organisation.
In a statement the management made available to the National Association of Online Security News Publishers (NAOSNP), the bank said the matter has been handed over to the appropriate authorities for investigation while cautioning the general public to rely on updates communicated through their channels only.
The statement reads in full:
Our attention has been drawn to reports circulating on social media regarding an alleged offence involving a former Contact Centre Agent.
The matter has been handed over to the appropriate authorities, who are conducting an investigation.
We are fully cooperating with them in this process.
At Access Bank, we uphold a zero-tolerance policy towards harassment and any form of privacy violation.
We are also actively engaging with the affected employees to provide all necessary support.
The safety, dignity, and well-being of our employees and customers remain our highest priority.
We appreciate the concern and support of the public and our stakeholders.
For accurate information, we encourage everyone to rely only on updates communicated through our official channels.
MANAGEMENT
Moruf Oseni, managing director/CEO, Wema Bank, says the lender is committed to continued service and value delivery to Nigerians beyond its 80th anniversary.
Wema Bank, one of Nigeria’s oldest indigenous institutions, is set to mark 80th anniversary on May 2, 2025.
Founded on May 2nd, 1945, as Agbonmagbe Bank Limited by Late Matthew Adekoya Okupe, and two others, the bank was established to bridge the gap in access to financial services for indigenous Nigerians during the colonial era.
Over the years, Wema Bank has built a legacy of impact, empowering Nigerians with quality financial services tailored to their needs and supporting the Fintech industry to innovate to remain valuable to customers and stakeholders.
Oseni, speaking on the journey of the bank so far, expressed commitment to continued delivery of optimum value to stakeholders beyond the anniversary.
According to him, Wema Bank’s founding principle of empowerment and its creed to “be with you all the way” speak to resilience, timelessness, and perpetuity.
“At Wema Bank, we have our creed, which is to be with you all the way. Anything that has the creed to be with you all the way simply means it is something that is built to last. Wema Bank rose against all odds in colonial Nigeria to cater to indigenous Nigerians and succeeded.
“Today, we are not just Nigeria’s oldest indigenous bank but also Nigeria’s leading innovative bank, a testament to how committed we are to reinventing and adapting to provide value. On this, we will never relent,” Oseni noted.
The Nigerian National Petroleum Company (NNPC) Limited has reduced its premium motor spirit price in Abuja.
Some motorists in Abuja confirmed the new fuel price adjustment at some NNPC retail outlets.
Reports quoted Abdullahi Hashim, a resident of Kubwa, Abuja, to have said: “I observed the drop in the fuel price to N935 per litre on Saturday morning. It is a welcome development.”
“I think I first saw this new price adjustment in Town, Wuse Zone 4 area, on Friday. NNPC filling station at Kubwa Expressway is just reflecting it,” Bukola Adewole also said.
The development comes after Dangote Refinery announced in its ex-depot petrol price to N835 per litre from N865.
The 650,000 barrels per day refinery had announced that its partners, such as MRS and AP filling stations, are expected to sell petrol between N890 and N920 per litre, depending on the location.
Meanwhile, MRS filling stations in Abuja have not been dispensing petrol since Wednesday, April 16, 2025, when Dangote Refinery announced a slash in ex-depot petrol price.
