Experience, they say, comes with age. Nothing else aptly defines the consistent growth of First Bank of Nigeria Limited (FirstBank) and its consistent reinvention as the conscience of corporate Nigeria in the face of rising competition from traditional and other shadow banking brands.
Experience, they say, comes with age. Nothing else aptly defines the consistent growth of First Bank of Nigeria Limited and its consistent reinvention as the conscience of corporate Nigeria in the face of rising competition from traditional and other shadow banking brands.In a country with short-lived corporate excellence and a handful of centenary companies, hitting 130 years is undoubtedly a significant milestone for Nigeria’s premier financial institution, FirstBank, GEOFF IYATSE writes.
Established in 1894 as British Bank of West Africa by the late Sir Alfred Lewis Jones, a shipping magnate, FirstBank has been at the forefront of Nigeria’s economic growth and development through its superior banking services and social investments across sectors – manufacturing, small and medium scale enterprise , agriculture, oil and gas and just about every other sector that has contributed to the country’s economic discovery.
Last year alone, its Firstmonie Agent banking services processed over ₦1.1 trillion in transactions, more than double the amount handled by seven other big banks. Some of its strategic investments in technology include the development of its smart and interactive transaction banking platform known as FirstDirect2.0 and the introduction of the humanoid robot to the banking ecosystem in the country.
For an organisation that has not only created Nigeria’s banking industry but also dynamically shaped it, there is no reason the brand would not attract the best professionals. It attracted a blend of top Nigerian bankers and became the training ground for young professionals who have contributed to its rich history of corporate leadership.
Speaking on the resilience of the bank at a recent function Adeduntan disclosed what he called the bank’s secret of success: “At FirstBank, our purpose is to enable success, putting our customers and stakeholders at the heart of our business. The bank has shown its commitment to playing a key role in the transition to a global net-zero economy by decarbonising its operations and value chains, driving climate finance, and promoting climate thought leadership. For example, its partnership with Nigeria Conservation Foundation has seen the financial giant begin 50,000 tree planting with this year 2024 set as the target year for this audacious goal.
For 30 years, FirstBank has remained a sponsor of the annual Nigerian Economic Summit, organised by the Nigerian Economic Summit Group, a think tank group with a mandate to promote and champion the transformation of the Nigerian economy into a private sector-led economy. In addition, the Bank’s membership of the UN Women is an affirmation of a deliberate policy that is consistent with UN Women’s Women Empowerment Principles – Equal Opportunity, Inclusion, and Non-discrimination.
The Federal Government has been told to revise and eliminate specific waiver clauses within the Coastal and Inland Shipping Act, the Nigerian Maritime Administration and Safety Agency Act
Dr. Adesola Adeduntan First Bank Of Nigeria Limited Firstbank
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