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First bank

Nigerian Man Jailed for Spending ₦1.5bn Paid to Him in Error

January 24, 2026

A Nigerian court has sentenced a man to prison after he spent more than ₦1.3bn (£730,000) that was mistakenly paid into his bank account by one of the country’s largest lenders, First

Business News·Top Stories

Otedola, First HoldCo Shareholders’ Investments On Decline Since Otudeko’s Exit

August 25, 2025

Since Oba Otudeko, the former chairman of First HoldCo and second-largest investor, exited the company unceremoniously, the financial institution’s share value has depreciated by N2.9 kobo, erasing N121.44 billion from shareholders’ investment

Business News·Top Stories

Oba Otudeko’s Investment In First Bank Parent Company Drops By N6.82bn

July 4, 2025

The value of investment held by Oba Otudeko in First HoldCo, the parent company of First Bank, has dropped by N6.82 billion within the first half (H1) of 2025, according to Prime

First Bank Changes Names Of Its Subsidiaries In UK, Some Sub-Saharan African Countries

Business News·Top Stories

First HoldCo’s Shareholders Lose N67bn After Report Of Oba Otudeko’s Impending Exit

June 13, 2025

First HoldCo’s shareholders lost over N67 billion on Friday, June 13, amid reports that two majority investors in the company, Oba Otudeko and the Leadway Assurance/Olukayode Odukale bloc, plan to sell off

Business News·Top Stories

N625bn Interest Income Fails To Save First HoldCo From 17% Decline In Profit

May 12, 2025

First HoldCo has released its financial statements for the first quarter (Q1) of 2025, disclosing that the company grew its interest income by 40.15 percent year-on-year from N446.14 billion to N625.28 billion.

Business News·Top Stories

First HoldCo’s Profit Up By 118% As FX Loss Drops To N64.94bn

April 22, 2025

The gross earnings of First HoldCo increased to N3.21 trillion in 2024, which is 105.70 per cent higher than the N1.56 trillion the company reported the previous year. According to First HoldCo’s

Business News·Top Stories

Femi Otedola’s Investment In First HoldCo Now N104bn – After Buying 2.2bn Shares

April 21, 2025

The value of investment Femi Otedola, Nigerian billionaire, has in First Bank of Nigeria (FBN) parent company, First HoldCo, is N104.15 billion as of April 17. According to an analysis of his

News

First Bank Loan Controversy: Ex-GMD, Onasanya, Shows Up In Court To Clear Name

February 14, 2025

Former Group Managing Director of First Bank, Dr. Bisi Onasanya, made an appearance before Justice Chukwujekwu Aneke, at the Federal High Court in Lagos on Thursday in a bold attempt to clear

Business News·News

First Bank MD, Adeduntan, Bows Out After Nine Years

April 21, 2024

Managing director of First Bank Group, Adesola Adeduntan, has resigned his appointment from the company after nine years heading the tier one bank in Nigeria.

Business News

Meet The Dominant Shareholders Controlling 23% of First Bank

July 27, 2023

In recent times, the matter of ownership concerning First Bank of Nigeria has dominated discussions in the financial sector, particularly fuelled by a controversial massive share acquisition made by a former chairman.

Finance & Economy

Bank Sort Codes In Nigeria – How To Find Them

July 16, 2023

In Nigeria, bank sort codes play a crucial role in facilitating seamless and accurate financial transactions. They serve as unique identification numbers assigned to each bank branch, ensuring that transfers and transactions

Stock Market Cap Closes At N34.97trn, Investors Gain N40.9bn

Business News·Markets

Nigerian Bourse Valuation Lifted By N555bn, First Bank, Wema Bank Top Trade

July 7, 2023

About N555.69 billion was added to the market capitalisation of the Nigerian stock exchange on Friday, raising the caqpitalisation by 1.64 per cent. This raised the bourse’s valuation to N34.32 trillion, from

Business News·Top Stories

First Bank Changes Names Of UK Subsidiaries, Sub-Sahara Africa

March 31, 2023

First Bank of Nigeria Limited, Nigeria’s premier financial services institution, has announced a phased corporate name change of its subsidiaries in the United Kingdom and Sub-Saharan Africa. FBNBank UK, FBNBank Sierra Leone,

Bank Investors Earn N248.68 billion Amid Naira Scarcity Caused By CBN’s Policy

Business News·Insights

Top 5 Revenue-generating Nigerian Banks – Access, Zenith, UBA, FBN’s Market Share

February 27, 2023

The top five revenue-generating banks in the financial industry reported a combined N2.23 trillion turnover within the first nine months of 2022. According to the 2022 Nine-Month period financial statements of the

Business News

Moody’s Says Its Highly Risky To Invest In GTBank, Fidelity Bank, 7 Others

February 2, 2023

Guaranty Trust Bank (GTBank), Access Bank Plc, First Bank of Nigeria (FBN) and six other commercial banks have been downgraded by the international rating agency, Moody’s. Moody’s, which assesses investment risk in

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business News·Markets

Market Cap Gains N13.07 billion, First Bank Sterling Top Trades

December 22, 2022

At the end of trading on Thursday, the Nigerian stock market capitalisation increased by N13.07 billion from the N26.94 trillion it recorded on Wednesday to N26.96 trillion. This was driven by the

News

New Naira Note: First Bank Begins Saturday Banking

November 5, 2022

Following the recent news of plans by the Central Bank of Nigeria (CBN) to issue new Naira notes, First Bank of Nigeria has announced that some of its branches will be opening

5 Colonial Nigeria Companies Standing Strong After 188 Years, Hit N741.15 Billion

Business News·Insights

5 Colonial Nigeria Companies After 189 Years- First Bank, Union Bank, May & Baker, Others

September 30, 2022

First Bank of Nigeria Plc, May & Baker, Union Bank, Unilever and Flour Mills of Nigeria are 5 colonial Nigeria companies still thriving today. In today’s market evaluation, these companies are worth

Business News·FEATURES·Insights

Best Performing Tier-1 Nigerian Banks: Zenith Bank Underperforms, UBA Tops List

September 26, 2022

At the end of the second quarter of 2022, United Bank for Africa (UBA) was the best performing financial institution amongst the tier-1 banks in Nigeria, with Zenith Bank ranking bottom of

Investors To Buy N150 billion-worth Of FBN Holdings Stake

Business News·News

First Bank To Prevent Naira Card Customers From Making International Transactions, Sets New Policy

September 21, 2022

Customers of First Bank of Nigeria (FBN) will no longer have access to foreign exchange for international transactions through all Naira Card types issued by the commercial bank. First Bank sent an

Business News·Finance & Economy·Insights

Ranking: Five Best Performing Tier-1 Nigerian Banks In Q1 2022

June 20, 2022

Customers’ deposits in the vault of Nigerian tier-1 financial institutions, First Bank, United Bank for Africa (UBA), Guaranty Trust Bank (GTBank), Access Bank and Zenith Bank rose to N31.58 trillion as at

Business News

Afreximbank To Support COVID-19 Struggling Businesses With $150 million

June 14, 2022

The African Export-Import Bank (Afreximbank) has concluded plans to hand $150 million to Nigerian businesses affected by the Coronavirus outbreak. The fund will be disbursed through First Bank of Nigeria. Afreximbank President

Business News

First Bank Investors Lost N12.56 billion, As Femi Otedola Take Out N5.76 billion

June 8, 2022

First Bank of Nigeria (FBN) largest shareholder, Femi Otedola, has sold part of his N30 billion worth of investment in the company, a trading document released by the financial institution on Tuesday

Technology

Nigerian Entrepreneur, Yvonne Johnson, Gets $3 million From Foreign Investors For Her Credit Business

June 6, 2022

Former First Bank of Nigeria employee, Yvonne Johnson, raises $3 million from foreign investors, including Target Global, which is known to fund Nigerian startups, for her credit agency company, Indicina. Johnson’s Indicina

Nigerian Banks Rely More On Liquidity, As Borrowing From CBN Rises To N19.8trn

Business News·Finance & Economy

Imports: Banks Rally Elite Customers For New Product Price Verification Mechanism

February 1, 2022

Banks are now sending out notices to potential import and export business customers for the first phase of the Central Bank of Nigeria (CBN) workshop on the new Product Price Verification Mechanism

FBN Holdings Join Fidelity Bank To Raise New Capital

Business News

First Bank Appoints Three New Executive Directors

January 12, 2022

FBN Holdings Plc has approved the appointment of three new executive directors to the board of its flagship subsidiary, First Bank of Nigeria Limited. The new appointees are Olusegun Alebiosu as executive

Finance & Economy·News·Top Stories

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