"FirstBank: A Century of Evolution in Nigeria's Banking Landscape"

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First Bank of Nigeria Limited (FirstBank) stands as a testament to resilience and innovation in Nigeria's banking sector, tracing its roots back to its establishment in 1894 as the British Bank of West Africa (BBWA). Over the past 13 decades, FirstBank has not only endured but thrived, evolving into the cornerstone of Nigeria's economy and a pioneer in the country's financial technology revolution.

From its inception, FirstBank has been integral to Nigeria's economic development, serving as a catalyst for growth across various sectors including manufacturing, SMEs, agriculture, and oil and gas. With nearly 800 business locations nationwide, the bank boasts an extensive physical presence that reaches every corner of the nation.

However, recognizing the shifting dynamics of modern banking, FirstBank has proactively embraced digital transformation. Its flagship digital banking application, FirstMobile, has witnessed exponential growth, with its user base skyrocketing from 60,000 to over six million in just a few years. This surge in digital transactions underscores FirstBank's successful transition from a traditional bank to an innovative digital powerhouse.

Moreover, FirstBank's commitment to technological advancement is evident in its array of telecommunications-driven initiatives, including USSD banking and FirstOnline, catering to both smartphone and feature phone users. The bank's Firstmonie Agent banking services have also recorded significant success, processing over ₦1.1 trillion in transactions in a single year.

Under the leadership of Dr. Adesola Adeduntan, the Chief Executive Officer of FirstBank Group, the institution has embarked on an extensive technology infrastructure overhaul. This strategic investment has not only bolstered the bank's digital capabilities but has also propelled its non-interest income to unprecedented heights, reaching ₦293.0 billion in September 2023.

With a customer base exceeding 42 million accounts and digital channel users surpassing 23.2 million, FirstBank's transition to a transaction-led banking model is well underway. As it continues to push the boundaries of innovation, FirstBank remains at the forefront of Nigeria's banking landscape, a testament to its enduring legacy of excellence and adaptability.


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