FirstBank: Reimagining customer experience, innovation with new head office (2025)

By Babajide Komolafe

FirstBank has recorded a significant milestone in it’s ‘legacy of firsts, and industry leadership with the groundbreaking ceremony for its new green-certified Iconic 44-floor head office building in Eko Atlantic City.

FirstBank is known for doing great things in Nigeria, such as pioneering remarkable achievements in the banking industry.

Incorporated in 1894 and headquartered in Marina, the heart of Lagos, FirstBank has become the premier bank in West Africa; as well as one of the most enduring banking brands in Africa.

International Footprints

With sturdy roots in Nigeria, FirstBank has taken on sub-Saharan Africa – Ghana, Guinea, Democratic Republic of Congo, Senegal, The Gambia and Sierra Leone.

In 2002, it established FBNBank UK (now FirstBank UK), thus becoming the first Nigerian bank to wholly own a full-fledged bank in the United Kingdom.

FirstBank’s international footprints cut across three continents- Africa, Europe and Asia, with FirstBank UK Limited in London and Paris; FirstBank in The Democratic Republic of Congo, The Gambia, Ghana, Guinea and Sierra Leone; FBNBank in Senegal; and a FirstBank Representative Office in Beijing, China. Besides providing domestic banking services, the subsidiaries also engage in international cross-border transactions with FirstBank’s Non-Nigerian Subsidiaries and the representative offices in Paris and China facilitate trade flows from Asia and Europe into Nigeria and other African countries.

Promoting economic growth

For over 130 years, FirstBank has been at the heart of Nigeria’s economic evolution. From being the first commercial bank to have branches in the cities we know today as Kano, Zaria, Calabar, Lagos and Ibadan, FirstBank in 1947, advanced the first long-term loan to the then colonial government, thus demonstrating its unalloyed commitment to the nation’s development.

In 1955, the Bank also partnered with the Federal Government to expand the railway lines in Nigeria thus deepening commerce across the nation through expansion of distribution channels.

At Nigeria’s Independence in 1960, FirstBank advanced the first ever loans to the citizens of the newly independent Nigeria, thus pioneering retail banking in Nigeria. Overtime, the bank has made impacts in supporting Nigeria and its citizens, especially the Federal Government in driving the nation’s economic growth through creation of jobs, financing of projects for small and medium enterprises and large corporations across all sectors thereby lifting people out of poverty.

FirstBank has a legacy of being woven into the fabric of society, which is built on the foundation of stability, resilience, relevance and solid commitment to delivering innovative and exceptional financial services and solutions to our customers and stakeholders. The bank has supported generations of families, businesses, government institutions and communities, and has played a key role in shaping the economic landscape of Nigeria and Africa.

FirstBank has been a pillar of strength, innovation and growth, driving Nigeria’s Financial Evolution, since 1894. A leader in trust, pioneering finance and banking excellence, FirstBank continues to shape Africa’s financial future.

Digital banking leadership

Furthermore, FirstBank has been at the forefront of promoting digital payment in the country with over 13 million cards issued to customers (the first bank to achieve such a milestone in Nigeria). FirstBank has continued to make significant investments in technology, innovation and transformation, and its cashless transaction drive has been steadily accentuated with over 23 million active FirstBank customers signed up on digital channels including the USSD Quick Banking service through the nationally renowned *894# Banking code.

FirstBank has over 42 million customer accounts (including digital wallets) spread across Nigeria, UK and sub-Saharan Africa, and it provides a comprehensive range of retail and wholesale financial services through more than 820 business offices and over 262,000 agent locations spread across 772 out of the 774 Local Government Areas in Nigeria.

In addition to banking solutions and services, FirstBank provides pension fund custody services in Nigeria through First Pension Custodian Nigeria Limited and nominee and associated services through First Nominees Nigeria Limited.

Recognitions

In recognition of its leadership and pioneering roles, FirstBank was named “Most Valuable Bank Brand in Nigeria” for six consecutive years (2011 – 2016), 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.

In 2023, FirstBank received notable awards including “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; ”Best Corporate Bank in Nigeria 2023” by Euromoney Awards and ‘’Most Innovative Banking Brand – Nigeria 2023” by Global Brands Award.

Significantly, FirstBank’s Global Credit Rating was A+ with a positive outlook while ratings by Fitch and Standard & Poor’s were A (nga) and ngBBB+ respectively both with Stable outlooks as at September 2023. FirstBank maintained the same level of international credit ratings as the sovereign; a milestone that was achieved in 2022 for the first time since 2015.

A World Class Headquarters

Now, in the heart of Eko, Atlantic City, FirstBank begins a new era with a world-class headquarters Tower designed to meet the highest standards of environmental sustainability. This iconic, eco-friendly building is a testament to our commitment to environmental, social and governance, ESG principles.

With its cutting-edge design, and state-of-the-art technology, the tower will serve as a beacon of sustainability and Innovation in the financial sector.

A mixed used high-rise building with a total height of 252 metres and a total buildup area of 115, 000 square metres. This architectural landmark will elevate the Skyline of Eko Atlantic City, designed to inspire and engineered for excellence.

The building features elegantly designed interiors with world class and amenities, versatile spaces for special events and business gatherings.

Designed to provide State-of-the-art venue for financial Summits and global conferences, digital media facades surrounding the podium, the iconic building offers state-of-the-art workspaces designed for collaboration and productivity. The ultimate business space is designed for visionaries and decision-makers, who share our commitment to sustainability and excellence.

The new headquarters tower is a symbol of the bank’s commitment to sustainable banking, and business practices, as well as its dedication to empowering dreams and shaping the future of Africa’s Financial landscape.

The sheer magnitude of the new Head Office project speaks volume about the confidence that FirstBank reposes in Nigeria.

The soon to become tallest building in Nigeria and Africa, is such a significant milestone achievement that exemplifies the Bank’s forward-thinking leadership and thorough devotion to delivering world-class banking services.

Furthermore, the significance of the project extends beyond aesthetics. When completed, it will not only be the tallest building in Nigeria but a fortress of ideas, a reference for financial innovation, and a command center for economic excellence. It will embody what is possible.

Financial Innovation Hub

Speaking at the groundbreaking ceremony, Managing Director/CEO, FirstBank, Mr. Segun Alebiosu, said the new head office building is designed to serve as a hub for financial innovation.

In his welcome address, he said: “This moment signifies more than just the construction of a building; it is the beginning of a new chapter in our enduring legacy – a legacy that has stood the test of time for over 13 decades, evolving with the financial landscape of our great nation, and continuously shaping the future of banking in Nigeria and beyond.

“Since our establishment in 1894, FirstBank has been at the forefront of Nigeria’s financial evolution. We have been a trusted partner in the country’s economic transformation, weathering global disruptions, embracing innovation, and driving financial inclusion across all regions.

“Our journey has been defined by resilience, adaptability, and an unshakable commitment to our customers. Today, we are more than just a bank; we are an institution with a proud heritage of trust and reliability, an institution that has played a pivotal role in empowering individuals, businesses, and industries across Africa.

“This groundbreaking ceremony is a momentous occasion for us, signifying our commitment to repositioning sturdily as ‘the’ Bank for the future. Therefore, this new head office complex is not just about a modern architectural masterpiece; it is about reimagining banking for generations yet unborn. It will serve as a hub for financial innovation, digital transformation, and operational excellence, ensuring that FirstBank remains ahead in an era where technology is reshaping the industry.

“Situated in the heart of Eko Atlantic City, the iconic FirstBank headquarters complex – a 40-story edifice will become the tallest building in Nigeria and West Africa upon its completion. It will be a symbol of strength, embodying the progress we have made as an institution, and reflecting our ambition to set new benchmarks in service delivery, operational efficiency, and customer experience.

“Beyond its significance to FirstBank and its people, this project will contribute to the broader economic landscape of Lagos, Nigeria and Africa. It will promote urban development and reinforce Lagos as a global financial hub.”