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FirstBank at 130 : Enabling the Giants in Customers, Stakeholder, Says Bolaji Israel
“Like a fine wine, FirstBank has only improved with age, becoming more dynamic, innovative and trusted by the nation. This is a testament to the diligence and devotion of the many great leaders who have steered the bank to success. Under the leadership of the current Chief Executive Officer, Dr Adesola Adeduntan, FirstBank Group has continued to make giants of its customers and other stakeholders, demonstrating that the success stories of its customers remain its own success story”.March 31st, 2024 marks a significant milestone for FirstBank as it will attain 130 years of operation in Nigeria. From its humble beginnings in 1894 as the Bank of British West Africa, the institution has evolved into a financial behemoth and a formidable force not only in the banking industry but in the nation and beyond.Throughout its long and illustrious history, FirstBank has played a pivotal role in the economic development of Nigeria. Not only has it served as a monetary and fiscal policy regulator for the entire West African region, but it has also been at the forefront of technological, industrial, and societal advancements across the country.The banking giant has achieved numerous firsts, demonstrating resilience and support through periods of rapid and radical changes. It has also pioneered and charted the course in the financial industry and the nation.Over the years, FirstBank has become deeply ingrained in the fabric of the Nigerian nation and its vibrant population of over 220 million people. As a key financial player, the bank has recorded impressive trajectories for decades, experiencing massive growth and expansion in terms of revenue, influence, and technological advancements.Globally, only a select few institutions can boast a rich and relevant heritage as a member of the over 100-year Club, and FirstBank proudly holds that distinction with the Nigerian people. It serves as a symbol of pride and a beacon of hope for greater exploits from Africa.Like a fine wine, FirstBank has only improved with age, becoming more dynamic, innovative, and trusted by the nation. This is a testament to the diligence and devotion of the many great leaders who have steered the bank to success. Under the leadership of the current Chief Executive Officer, Dr Adesola Adeduntan, FirstBank Group has continued to make giants of its customers and other stakeholders, demonstrating that the success stories of its customers remain its own success story.The recent appointment of Femi Otedola as the Board Chairman in its 130th year indicates that the banking giant shows no signs of slowing down or resting on its laurels.While many smaller banks have collapsed, FirstBank has reinvented itself like the eagle, emerging stronger in terms of financial capacity, corporate governance, liquidity, industry leadership, optimised risk management and visionary roadmaps. The iconic elephant, representing the bank’s brand essence, symbolises its strength, agility, and forward momentum.The lending giant has acquired enterprise technology capacities and made significant investments in digital infrastructure, reducing brick and mortar practices. The bank recognises that its people are its biggest resource and has taken banking to the people, ensuring accessibility and inclusivity. Strategic recent investments in technology include the development of its smart and interactive Transaction Banking Platform known as FirstDirect2.0, the introduction of the Humanoid Robot to the banking ecosystem in the country.Others are its Digital Xperience Centre, currently in Lagos, Ibadan and the nation’s capital, Abuja. FirstBank is the first Nigerian bank to reach the milestone of issuing 10 million ATM card to its customers, the first amongst the existing banks to adopt the use of ATM amongst others.FirstBank has been nimble at promoting a digital economy in AfricaDuring the COVID-19 pandemic, the bank demonstrated its commitment to social responsibility by donating millions through CACOVID, providing online learning tools for students in partnership with the government, distributing food items, and implementing a hybrid work model to ensure the safety of its employees.In line with the UN Sustainable Development Goal 5 which seeks gender equality and empowerment for all women and girls, FirstBank has demonstrated its commitment to Diversity through policies, partnerships and initiatives, such as its employees’ ratio of female to male (39%:61%); and 32% women in management), as well as various initiatives aimed at addressing gender gap and increasing participation of women at all levels within the organisation. 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’s Principles – Equal Opportunity, Inclusion, and Non-discrimination. Its financial holding company, the FBNHoldings recorded a 127 per cent rise in profit to N309.89bn in 2023 from N136.17bn recorded at the end of 2022.This was indicated in its unaudited consolidated financial statements for the period ended December 31, 2023, filed with the Nigerian Exchange Limited earlier in February.During the period under review, the interest income of the lender also rose by 66.27 per cent to N917.71bn from N551.94bn in 2022. Fee and commission income appreciated to N204.90bn from N143.98bn in the previous year.Furthermore, in recent years, FirstBank has transformed its banking model, embraced a more modern approach, and pioneered many firsts in digital and online banking solutions. The bank has invested resources to advance banking beyond physical walls, offering customers a plethora of options for convenient digital banking. Mobile banking, cards and personal banking, electronic banking, PoS agents, online banking, USSD services, and more have empowered millions of previously unbanked individuals in rural and underserved areas.With over 800 business locations and over 232,000 Banking agents spread across 99% of the 774 Local Government Areas in Nigeria, the Banking group provides a comprehensive range of retail and corporate financial services to serve its over 42 million customers.Its financial inclusion and cashless transaction drive have resulted in over 523 million active FirstBank customers on its digital channels, including the USSD quick banking service through the nationally acclaimed *894# banking code.More, the financial powerhouse has received some of the best-in-class global awards in banking for exceptional solutions and performances back-to-back in clear recognition of its outstanding stature and status. This includes Best Corporate Bank at the recent Euromoney Awards for Excellence, Nigeria 2023; Best Corporate Bank Western Africa, 2023, by Global Banking and Finance; Best Internet Banking in Nigeria, 2023, by International Business Awards; Most Innovative Banking Brand in Nigeria, by Global Brands Awards as well as the Financial Institution of the Year 2023, by Afreximbank Pan-African Business and Development. For six consecutive years (2011 – 2016), FirstBank was named “Most Valuable Bank Brand in Nigeria” by the globally renowned The Banker Magazine of the Financial Times Group and “Best Retail Bank in Nigeria” eight times in a row, 2011 – 2018, by the Asian Banker International Excellence in Retail Financial Services Awards. Furthermore, the Top 100 African Bank Rankings 2022 released by The Banker Magazine revealed FirstBank’s ranking as number one in Nigeria in terms of Overall Performance, Profitability, Efficiency and Return on Risk. Other notable awards received by FirstBank include “Best Private Bank for Sustainable Investing in Africa 2023” by Global Finance Awards; “Best Sustainable Bank in Nigeria 2023” by International Investors Awards; “Best Bespoke Banking Services in Nigeria 2023” by International Investors Awards; “Best Financial Inclusion Service Provider in Nigeria 2023” by Digital Banker Africa; and “African Bank of the Year” by African Leadership Magazine.In November 2022, Sam Aiyere-led FBNBank UK, a subsidiary of FirstBank Group to celebrate 40 years of steady operations and growth far away in the United Kingdom. FirstBank also boasts of international presence with subsidiaries operating in 9 other countries. These subsidiaries are FirstBank (UK) Limited in London and Paris, FirstBank in the Democratic Republic of Congo, Guinea, Sierra Leone, and The Gambia; FBNBank in Ghana and Senegal as well as a Representative Office in Beijing, China Beyond its global financial institutional leadership and growth, FirstBank has supported and enabled dreams, fostered trust, safety, and security, and created long-term value for all stakeholders. The bank has played a crucial role in empowering youths, entrepreneurs, women, students, and the rapidly growing creative industries locally, which are gaining global recognition. Its massive and strategic interventions through the DecemberIssaVybe, FirstGem, SPARK, FirstBank Women Network and numerous others campaign have been impactful especially in addressing some key United Nation’s Sustainable Development Goals.As FirstBank rolls out the drums and unveil an array of engagements to commemorate the huge milestones.
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GTBank Launches Quick Airtime Loan at 2.95%
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Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing 73790#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
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GTCO Proudly Headlines the NPA Lagos International Polo Tournament as Main Sponsor— Championing Great Experiences and Heritage
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Guaranty Trust Holding Company Plc (GTCO Plc) (NGX: GTCO; LSE: GTCO), one of Africa’s leading financial services groups, is proud to announce its continued support as the main sponsor of the NPA Lagos International Polo Tournament, one of Africa’s oldest and most prestigious sporting events. The 2026 edition will be held at the Lagos Polo Club, Ikoyi, from Tuesday, January 27 to Sunday, February 15, bringing together top local and international polo teams and spectators from across the continent and beyond.
The 2026 NPA Lagos International Polo Tournament will feature top‑tier teams competing for major prizes, including the Majekodunmi Cup, Independence Cup, Open Cup, Silver Cup and Low Cup, among others. Guests can expect a fusion of thrilling equestrian action, polo-inspired lifestyle showcase, and curated hospitality experiences. The event will also be livestreamed, allowing audiences online to share in the excitement and spectacle.
Commenting on GTCO’s role as main sponsor of the Lagos International Polo Tournament, Segun Agbaje, Group Chief Executive Officer, said: “This tournament, one of the oldest in Africa, celebrates not only the noble sport of polo but the values we hold dear as a brand: teamwork, discipline, fair play, and a commitment to excellence. Beyond the field, it showcases Nigeria and Africa to a global audience, reinforcing the continent’s place on the world stage. Our longstanding sponsorship of the NPA Lagos International Polo Tournament reflects our conviction that sport can amplify opportunity, foster connections, and deliver world-class experiences for all.”
The NPA Lagos International Polo Tournament has long been celebrated not only for its thrilling competition and equestrian excellence but also for its rich heritage and cultural resonance within Africa’s sporting tradition. GTCO’s sponsorship embodies the Group’s commitment to creating platforms that unite communities and drive social impact across diverse audiences.
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Fidelity Bank appoints Onwughalu as Chairman following completion of Chike-Obi’s tenure
Tier one lender, Fidelity Bank Plc, has announced the completion of the tenure of Mr. Mustafa Chike-Obi as Chairman of its Board of Directors effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026.
The board transitions are in alignment with the Bank’s policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.
Under Mr. Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 percent and 137.73 percent respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of achievements. His tenure also saw the Bank strengthen its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities, and enhance its corporate and investment banking proposition. The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthened market confidence and the Bank’s sustained upward performance trajectory.
Reflecting on his tenure, Mr. Mustafa Chike-Obi said, “It has been a privilege to serve as Chairman of Fidelity Bank. The dedication of our Board, management, and staff has enabled us to reach significant milestones. I am confident that the Bank will continue to thrive and deliver value to all stakeholders.”
Mrs. Amaka Onwughalu’s appointment marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees. With over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc. She holds degrees in Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions. Mrs. Onwughalu is a Fellow of several professional bodies and has received awards for accountability and financial management
“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have set a strong foundation for continued growth. I look forward to working with my colleagues to drive our strategy and deliver sustainable value,” commented Mrs. Onwughalu.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
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