About First Bank of Nigeria Limited (FirstBank)
First bank is a Nigerian multinational bank providing financial services in Nigeria. It has its headquarters in Lagos State, Nigeria. First bank was founded in 1894 and is the oldest bank in Nigeria.
First bank is renowned as the premier bank in West Africa. First bank Nigeria Limited is the parent company in Nigeria; other subsidiaries exist in other countries.
First bank has customers across Africa with over 53,000 agent locations across Nigeria. The bank is reputed to have the largest client base in West Africa, with over 18 million customers and 16,000 staff.
The major business units operated by First bank Nigeria Limited are:
First bank awards
First bank of Nigeria Limited has won major awards in the banking sphere. These include:
Best Retail Bank in Nigeria (2011 – 2018) award by The Asian Banker
Multiple Best Place to Work awardee
Public Sector Banking
Best Bank in Nigeria – Global Finance Magazine
Best Private Bank in Nigeria- World Finance Magazine seven times
Best Banking Brand Nigeria (2019)-Global Brands Magazine
Best Mobile Banking App (2019) – Global Business Outlook
Best Financial Inclusion Program, Nigeria (2019) –International Investor.
The subsidiaries of First Bank of Nigeria Limited include the following:
- FBN Bank, Republic of the Congo – FBN bank was founded in April 1994 and formerly known as Banque International de Credit (BIC)
- FBN Bank (China)- representative office
- FBN Bank (Ghana) – 100% shareholding
- FBN Bank (Guinea) – 100% shareholding
- FBN Bank (Senegal) – 100% shareholding
- FBN Bank (Sierra Leone) – 100% shareholding
- FBN Bank (South Africa) – representative office
- FBN Bank (UAE) – representative office
- FBN Bank (London, United Kingdom) – 100% shareholding
- FBN Bank (UK/Paris) – a branch of the subsidiary in the UK
- First Pension Custodian Limited
- FBN Mortgages Limited
- FBN Bank (Gambia)
This article covers the branches of First bank in the Federal Capital Territory, Abuja, Nigeria.
List of First Bank Branches in Abuja
Read on below:
First bank Abuja Main branch
Plot 777, Mohammadu Buhari Way at Central Business District, Abuja.
First bank Gwagwalada Branch
Number 5 Park Road, Gwagwalada Abuja
First bank Abuja Garki Branch
Number 5 Hadejia Street Area 3 at Garki Abuja, Nigeria
First bank Zuba II Branch
Area 1, Along Kaduna Express Road, Opposite Con Oil, Zuba
First bank Bwari Branch
Number 35, Old Suleja Road, Bwari Abuja
First bank Gwarimpa Branch
Plot 430, First Avenue, beside Total Filling Station, Gwarimpa Estate. Abuja
First bank Kubwa Branch
Plot B3, Opposite Total Filling Station at Gado Nasco Road, Phase 2, Site 2, Kubwa Abuja
First bank Asokoro Branch
Plot 85, Yakubu Gowon Crescent at Asokoro Abuja
First bank Abuja Wuse Branch
Plot 2097, Herbert Macaulay Way at Wuse Zone 5, Abuja
First bank Maitama Branch
Number 14, Mediterranean Street at Maitama, Abuja
First bank Abaji Branch
Number 1, Toto Road, Abaji, Abuja
First bank Deidei branch
Deidei Regional Market at Deidei, Abuja
First bank Jos Street Branch
Number 2, Jos Street at Area 3, Garki, Abuja
First bank Mpape Branch
A29 Cadastral Zone, Mpape District, Abuja
First bank Utako Branch
A65, Rukkayat Plaza on Obafemi Awolowo Way, Jabi Abuja
First bank Ahmadu Bello Way, Garki Branch
Plot 1045, Ahmadu Bello Way, Area 11, Garki
First bank Kuje Branch
Opposite Kuje Police Station, FCT Abuja
First bank Maitama II Branch
Mujanatu House, No 1 Zambezi Crescent Maitama Abuja
First bank Wuse New Market Branch
Number 41, Mambolo Street at Wuse Zone 2, Abuja
History of Firstbank
Firstbank commenced business in 1894 (pre-independence Nigeria) as the Bank of British West Africa. The bank originally provided its services as a British shipping and trading agencies in Nigeria. The founder of the Bank of British West Africa is Alfred Lewis Jones. He was a shipping magnate and had gotten a monopoly on importing silver currency into West Africa through his company, Elder Dempster shipping company.
He set up the bank to secure deposits for his business and eliminate the barter system. The barter system made room for many errors and faults in his business. The banks helped to establish a uniform medium of exchange. At first, the bank financed only foreign trade and refused to lend to indigenous Nigerians because they have little to offer as collateral for loans.
After Nigeria’s independence in 1960, the bank started lending to indigenous Nigerians. More Nigerians also began to patronize the bank. In 1965, Standard bank acquired the Bank of West Africa and changed its name to Standard Bank of West Africa.
In 1969, Standard Bank of West Africa incorporated its Nigerian operations and then changed its name to Standard Bank of Nigeria. In 1971, Standard Bank of Nigeria listed its shares on the Nigerian Stock Exchange and was converted to a public company. It then placed 13% of its share capital with Nigerian investors.
In 1977, after the Nigerian civil war ended, the Nigeria’s military government sought to increase local control of the retail-banking sector. The government’s action made the Standard Chartered Bank reduce its stake in Standard Bank Nigeria to 38%. Now that the bank no longer had major control, it changed its name to First Bank of Nigeria Limited. At this time, the bank had re-organized and had more Nigerian directors.
In 1991, First Bank of Nigeria Limited changed its name to First Bank of Nigeria Plc after it was listed on The Nigerian Stock Exchange.
In 2010, the Central Bank of Nigeria required that banks divest from non-core banking businesses to adopt a holding company structure. FBN Holdings Plc. was established to capture all business of the First bank of Nigeria Limited, both banking and non-banking businesses. The new structure resulted in a stronger platform to support the Group’s future growth locally and internationally. In 2012, the bank changed its name again to First Bank of Nigeria Limited as part of its restructuring strategy. The bank detached its commercial banking business from other businesses in the FirstBank Group, in line with CBN requirements. First bank of Nigeria plc was also delisted from the Nigerian Stock Exchange and replaced with FBN holdings.
The other business groups of FBNHoldings are:
FBN Commercial Banking