Business
FirstBank: Standing Strong on the Enviable Heritage of Firsts
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By Eric Elezuo
It is often said that the child that would be great begins very early to manifest the traits, and in doing so, takes along the entire community, who are awed by his acts. These are acts that are tested, and trusted to last ages. This is the story of FirstBank of Nigeria Plc; a financially oriented company that manifested the traits of glory, customer satisfaction and all round first from birth, and has not looked back ever since.
In March 1894, in the quiet corner of Broad Street, Lagos, the brand was conceived and given birth to for the public gain. It was the first of its kind in the country, and deservedly got the best name appropriate – FirstBank.
FirstBank as the oldest bank in Nigeria, spanning 125 years and still counting, has grown in leaps and bounds, creating new frontiers, breaking barriers, constantly coming up with diverse firsts, bringing smiles to families with its cut to size promos and products as well as forging an enviable image for the Nigerian nation, both from within and across the globe.
As the premier and leading banking institution, not only in Nigeria, but the entire West African sub-region, FirstBank has fully revolutionalised the banking business, developing tip of finger-like ease of doing business and accessing funds. Consequently, the bank manages with ease over 15 million customer accounts in well over 750 business locations globally from where it provides a comprehensive range of retail and corporate financial services. The customers are also availed of the more than 2700 Automated Teller Machines (ATMs) across the banks and other locations.
Among the very many firsts the bank is endowed with is the launch in 2011 of the first cash deposit ATM in Nigeria thereby granting customers the pleasure of depositing cash without entering the banking hall. This service has helped in reducing the handling of cash and supporting the Federal Government cashless policy.
The Chief Executive Officer, FirstBank, Dr. Adesola Adeduntan; Group Managing Director, FBN Holdings Plc., Mr. UK Eke; Group Chairman, FBN Holdings Plc., Dr. Oba Otudeko, CFR and Company Secretary, FBN Holdings Plc. Mr. Seye Kosoko, at the 7th Annual General Meeting of FBN Holdings Plc held in Lagos.
With its XploreFirst promo, FirstBank has also regenerated banking and savings culture in the day-to-day activities of many customers, especially the students who are rewarded with potent scholarships. Recently, about 18 students were rewarded with N150, 000 scholarship each. This, the bank has used in promoting financial inclusion at all levels with about 18, 000 agent banking spread across the country. That’s quite a huge statement in putting the customer first as the slogan goes – You First!
Little wonder, in the tradition of firsts, the company performed a historical flag hoisting on March 1, 2019 to mark its 125 years in existence. If FirstBank had been a Dutch oriented company, it would have been dubbed Royal FirstBank, having hit the 100 years mark.
Talking about firsts, FirstBank is among the first banks (no pun intended) in the country to launch whatsapp banking as an alternative channel to ease banking stress. This is in addition to firstmobile, FirstMonie and firstonline, which have proved to be veritable tools to making banking more like a past time, accessible from almost anywhere. With its *894# code, FirstBank has reduced banking to mere touch of buttons.
FirstBank’s innovations and consistency has earned it recognitions from far and wide, chiefly among it is being named “Most Valuable Bank Brand in Nigeria” for six consecutive times between 2011 and 2016 by the globally renowned “The Banker Magazine” of the Financial Times Group.
Again, between 2011 and 2017, the bank was recognized as the “Best Retail Bank in Nigeria”. The honour was bestowed by the Asian Banker International Excellence in the category of Retail Financial Services. And for 15 years in a row, it won the “Best Bank in Nigeria”, an award sponsored by Global Finance.
In the words of the Group Head, Marketing & Corporate Communications, Mrs. Folake Ani-Mumuney “Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.”
Lending credence to the heritage of firsts of FirstBank, the Group CEO, Dr, Adesola Adeduntan said that “it is one of the ways FirstBank puts you first and enables you to stay connected with your contacts, loved ones, friends and finances all on the go while you chat with them because at FirstBank, we are driven to bolster relationships on all fronts, anywhere and anytime.”
A global bank by all standard, FirstBank is the second bank in Africa, and by all means the first in Nigeria to issue 10 million cards, in addition to being recognized as the first financial institution in Nigeria to achieve 100 million sustained monthly transactions in electronic payment, by Interswitch. This feat was achieved in December 2015 and again in May 2016.
The many firsts of FirstBank cannot be over-emphasized as in 2008, against all odds, it became the first Nigerian Bank as well as the first quoted company in the country to hit N2 trillion market capitalization.
It is worthy of note that over the years, FirstBank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes.
To serve the customers better, the bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.
With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.
For 125 years, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership.
The FirstBank Group is endowed with a rich blend first class human and material resources, which have helped in furthering the principle of placing the customer first ahead of every other thing. At the helm of affairs of FirstBank is Dr. Adesola Adeduntan, who is the Managing Director/CEO. The chairman of the group’s Board of Directors is Mrs. Ibukun Awosika while Oba Otudeko is the chairman, FBN Holdings.
Where would you rather bank? FirstBank…You First!
Access Bank Plc has said that a social media post announcing a shutdown of the bank’s operations, is false and misleading.
In a statement signed by the bank’s management, and made available to the media, the Bank insisted that the notice is the handiwork of mischief makers, who impersonated the bank’s official handle.
It advised members of the public to disregard the notice, and pay attention only to verified information from the verified accounts of the bank.
Below is the full statement:
“A message impersonating Access Bank’s official handle is currently circulating on social media and WhatsApp. It is false and misleading.
“We wish to reassure our customers, partners, stakeholders, and the public that Access Bank is safe, financially strong, and fully operational across all our subsidiaries. Our services continue to run seamlessly, and we remain committed to serving our customers with the highest standards of excellence.
“We are working closely with the relevant regulatory and law enforcement authorities to identify those responsible for creating and spreading this false information to cause panic and business disruption. Appropriate legal action will be taken in accordance with applicable laws and regulations.
“We also remind members of the public that creating, publishing, and disseminating false information capable of causing public alarm, damaging reputations, or undermining confidence in institutions constitutes an offence under Section 24 of the Cybercrimes (Prohibition, Prevention, etc.) (Amendment) Act, 2024.
“If you receive a false and misleading message, please do not share or forward it. Instead, disregard it and rely only on information communicated through Access Bank’s official and verified channels.
“We thank our customers, partners, and stakeholders for their continued trust and confidence in Access Bank.”
Business
Ecobank Nigeria Launches Scaling Up!!! Podcast to Champion African Entrepreneurship, Business Growth
Ecobank Nigeria has launched Scaling Up!!!, its flagship business storytelling podcast designed to inspire, educate and empower entrepreneurs, founders, business leaders and the next generation of African innovators through authentic conversations with some of the continent’s most accomplished business personalities.
The podcast, which will be available on Ecobank Nigeria’s official YouTube channel and other major digital streaming platforms, reinforces the Bank’s commitment to supporting businesses beyond banking by creating a platform where entrepreneurs can learn from the experiences of successful founders, creatives and industry leaders who have built thriving enterprises across diverse sectors.
Featuring compelling conversations on entrepreneurship, leadership, innovation, resilience and business growth, Scaling Up!!! offers practical lessons and real-life insights that aspiring and established entrepreneurs can apply in building sustainable businesses.
The inaugural season features an impressive lineup of distinguished guests, including beauty entrepreneur and Founder/CEO of Beauty by AD, Adeola Adeyemi (Diiadem); renowned filmmaker and Founder of Golden Effects Pictures, Kunle Afolayan; veteran music producer and Founder of Coded Tunes, ID Cabasa; luxury fashion entrepreneur Ejiro Amos Tafiri; celebrated commercial photographer Emmanuel Oyeleke; Co-founder and Lead Interior Designer of Siriano Limited, Adewunmi Adegbola; and Founder of Windsor Gallery and Nahous Creative Hub, Richard Vedelago.
Each episode explores the guests’ entrepreneurial journeys, highlighting the opportunities they embraced, the challenges they overcame and the strategies that enabled them to build enduring brands and successful businesses.
Speaking on the launch, Head, Marketing & Corporate Communications, Ecobank Nigeria, Austen Osokpor, said: “Scaling Up!!! reflects Ecobank’s belief that empowering entrepreneurs goes beyond providing financial solutions. Through authentic storytelling and insightful conversations, we are creating a platform where business owners can learn directly from people who have successfully navigated the realities of building sustainable enterprises. It is another way we are reinforcing our commitment to driving entrepreneurship, innovation and economic growth across Africa.”
Also speaking, Head, SMEs, Partnerships & Collaborations, Ecobank Nigeria, Omoboye Odu, said: “Entrepreneurs learn best from the experiences of those who have walked the journey before them. Scaling Up!!! provides practical insights, inspiration and valuable lessons that will help founders make better business decisions, overcome challenges and unlock new opportunities for growth. The podcast further strengthens Ecobank’s role as a trusted partner supporting SMEs at every stage of their entrepreneurial journey.”
Sharing the creative vision behind the initiative, the Producer of Scaling Up !!!, Jemimah Ugiagbe said: “Our goal was to create more than just another business podcast. We wanted honest, engaging and relatable conversations that reveal the realities behind success, the setbacks, the resilience, the bold decisions, and the lessons that every entrepreneur can learn from. Every episode is designed to leave listeners informed, inspired and motivated to build businesses that create lasting impact.”
The podcast further strengthens Ecobank Nigeria’s position as a trusted partner for entrepreneurs by providing a knowledge-sharing platform that extends beyond traditional banking services. Through meaningful conversations with accomplished founders and innovators, the Bank continues to demonstrate its commitment to fostering enterprise development, encouraging innovation and promoting sustainable economic growth across Africa.
Scaling Up!!! is targeted at SMEs, entrepreneurs, founders, startups, business executives, creatives, students and young professionals seeking practical business insights from some of Africa’s most respected industry leaders.
New episodes will be released regularly across Ecobank Nigeria’s YouTube channel and other major podcast streaming platforms, offering audiences thought-provoking conversations on entrepreneurship, leadership, innovation and business growth.
Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, has been named Nigeria’s Best Digital Bank for Consumers 2026 by Euromoney, one of the world’s most respected authorities on financial services and banking excellence.
The prestigious recognition affirms the Bank’s sustained leadership in digital innovation, customer experience and financial inclusion, reinforcing its position as one of Nigeria’s leading technology-driven financial institutions.
Presented annually, the Euromoney Awards for Excellence celebrate banks that are redefining financial services through innovation, measurable impact and outstanding customer value. In selecting Wema Bank for the award, Euromoney recognised the Bank’s successful digital transformation journey, its continuous innovation through ALAT, Africa’s first fully digital bank, and its unwavering commitment to delivering simpler, smarter and more accessible banking experiences for customers.
Commenting on the recognition, the Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, said: “This award is a strong validation of the deliberate investments we have made over the years to build a truly digital bank that puts customers at the centre of everything we do. Innovation for us has never been about technology for its own sake. It has always been about creating solutions that make banking easier, faster, safer and more rewarding for every customer.
“From pioneering Africa’s first fully digital bank with ALAT to continuously evolving our digital capabilities, we have remained focused on anticipating customer needs and building experiences that create real value. We are honoured by this recognition from Euromoney and inspired to continue pushing the boundaries of innovation as we shape the future of banking in Nigeria,” he concluded.
A key milestone in Wema Bank’s digital transformation has been the evolution and upgraded version of ALAT, which introduced next-generation capabilities including voice banking, tap-to-pay functionality, personalised financial services and integrated investment opportunities through strategic partnerships. Together with faster digital onboarding, AI-powered fraud monitoring, intelligent customer personalisation and an expanding agency banking network, these innovations continue to enhance customer experience while extending financial services to more Nigerians.
Euromoney also recognised Wema Bank’s ability to leverage technology to build deeper customer relationships through data-driven personalisation, enabling customers to receive tailored recommendations across savings, investments and credit products based on their financial needs and behaviour.
For over eight decades, Wema Bank has remained at the forefront of innovation in Nigeria’s financial services industry. As the pioneer of Africa’s first fully digital bank, the Bank continues to redefine banking by combining technology, customer insight and innovation to deliver seamless, secure and inclusive financial solutions for individuals, businesses and communities.
The Euromoney recognition further reinforces Wema Bank’s commitment to building the future of banking through continuous innovation, operational excellence and customer-centric solutions that create lasting value.
