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First Bank of Nigeria Plc


Business Directory » Banking / Finance » Microfinance Banks
Abuja

  

First Bank of Nigeria Plc, one of the subsidiaries within the FBN Group, with head office in Lagos, remains one of Africa’s most diversified and leading financial services providers. With a heritage that goes back to 1894, the Bank has consistently met changing market demands through continuous re-invention and innovation, driven by service excellence, modernization and growth. The group has over 560 branches in Nigeria, 11 subsidiaries (including a subsidiary in London with a branch in Paris). These subsidiaries are involved in various sectors of the financial services industry, including investment banking, funds management, registrarship, pension custodian, venture capital management, trusteeship, insurance brokerage, mortgage banking and microfinance. The group also has representative offices in Johannesburg - South Africa, Beijing – China, and   soon to establish presence in Abu Dhabi, United Arab Emirates. As a full-suite financial services provider, the Bank offers retail, institutional, corporate & public sector banking, agricultural financing, treasury, payments and collections, online banking and various electronic payment schemes. 

FirstBank sees its workforce as its most valuable asset and strives to be the employer of choice in the financial services industry. The Bank’s human resource strategy is to employ and retain the best talent in the industry and equip them with the required competencies to outperform competition and deliver customer expectations. 

Career opportunities cut across all levels (graduates, mid and top levels) with a highly structured grading system. Being one of the largest employers of labour in the industry, FirstBank’s total staff strength stands at over 12,000. Career progression in the Bank is largely performance driven and employees can develop careers along the following paths: Strategic Business, Strategic Resource and Strategic Support Units, these include: Credit Risk Management, Treasury & Fund Management, Branch Banking, Legal Services, Human Capital Management, Marketing & Corporate Communication and Information Technology, amongst others.

The future is very bright for the Bank, its employees (including prospects), customers and prospective investors wishing to explore the vast business opportunities in Nigeria.

 

   Our People 

People are essential in Organisations as they are the breath and life to its growth and mission; that is why in FirstBank we seek, identify and attract passionate, intelligent and energetic people that can fit seamlessly into our culture, be good leaders and put to work today what will bring tomorrow’s dreams to reality.

 
  

HISTORY

 

History

FirstBank has been through many seasons since 1894,

  • from being the only bank in Nigeria for decades
  • weathered the "banking explosion" of the 1930s to 1950s
  • followed by an era of government ownership and control
  • to a flurry of consolidations and then gradual growth in number of banks up to the early 1980s
  • then yet another industry growth spurt in the early 1990s when the banking sector was deregulated
  • leading to an industry shake-up in the late 1990s, which reduced the number of banks from 126 to 77
  • and later resuscitation and growth to 89 banks
  • leading to the recent shake-up to 25 banks

BRAND

Introduction
Branding initiatives in First Bank of Nigeria Plc (FirstBank) are to strategically position the FirstBank Group as a national icon and an international player in the financial services industry.

After a century of operations, the Bank commenced the “Century II” business transformation project in 1996, which was revalidated in 2001 with the theme, “Century II – The New Frontier”.

As the Bank marked its 110 years of existence during which it pioneered the art and science of modern banking in the country, becoming Nigeria’s biggest and most prosperous financial services group, FirstBank in a fundamental brand transformation launch on Tuesday, April 27, 2004 unveiled a new chapter in its illustrious history: a new corporate identity, logo and official colours. The launch was the culmination of the Bank’s strategic re-engineering process, embarked upon to usher the Bank into its second century of operations.

Objectives:

  • To revolutionize the Bank’s operations in line with the dynamics of the operating environment;
  • To strengthen the bank’s brand, leverage and upscale the customers’ experience; and
  • To project FirstBank as sophisticated and dynamic.

Having been around for over a century, we realized there was the need to refocus and energize our brand in response to contemporary realities of the business environment.

We also realized that this goes beyond change of logo, aesthetics and overall physical ambience of our workplaces. Thus, our brand transformation efforts entailed radical improvements in service delivery and renewal of trust/dependability, which are all self-evident in the present standing of the Bank as an epitome for dependability in the financial services sector.

While the Bank reflects the agility, dynamism, processes, technology and corporate mindset of a new generation bank, it lives up to its billing of being ‘truly the first’… by re-inventing and re-invigorating its entire set-up.

Brand Essence
The DNA of the FirstBank brand lies in its strength, size and dependability, typified by its brand icon, the African Elephant. Our brand essence is therefore Dependably Dynamic

  • This singular concept drives the understanding of the brand;
  • It is the soul of the brand and can be described as the one term that best personifies the behaviour, products and services of the Bank; and
  • It captures the spirit of all the four brand pillars.

Our brand essence, Dependable Dynamic, is a holistic representation of our past, present and the future of FirstBank.

Brand Rating
FirstBank was rated a Superbrand in 2007, from a pool of 2000 highly graded brands in Nigeria, by the Superbrand Nigeria Council.

 

 

First bank logo.first_banki Head quaters
First bank logo.First bank Head quaters

PRODUCTS

E-First 

Our various e-Banking Products includes

 
First Online
FirstBank Internet Banking
All you need is at least one FirstBank account (savings or current). Depending on your customer status with the bank
 
First Alert 
Alert Banking Services
This is the product that gives customers instant notification of every transaction that takes place in their account. This product is called First Alert in First Bank of Nigeria plc. This instant notification can be in form of E-mail or SMS.
 
First Mobile
FirstMobile from FirstBank means you have access to your account, any time any where, via your mobile phone. So whether you’re at home, on a bus or on a date, you have total control of your money!
 
First Pay 
This is an internet-based solution designed and developed to allow our valuable clients directly effect payment instructions from their offices anytime and any day in a very secure and efficient manner. Because it is available over the web, payments and authorisations can be done regardless of location, as long as there is internet connectivity
 

First Collect

 

FirstCollect is a robust web-based, in-branch solution that helps to effectively render customized Collection service on behalf of organisations to their cherished customers. With FirstCollect solution, Client’s customers would be able to make payments at any of our business offices nationwide.

Consumer Banking Products 

 Consumer Banking is the provision of products and services to meet the financial needs of individuals with a steady and verifiable income flow.  
Here are some of our Consumer Banking Products; 

Mortgages

Provision of loans for the acquisition/ construction of residential properties is made possible under our U-first schemes

Personal Loans / Overdrafts

The product is designed to provide finance for individuals whose salaries are being paid through the Bank.

Generic Savings Account

It is a hybrid savings account that runs on a savings platform with current account features for your convenience.

Generic Current Account

With FirstBank’s current account, you just can’t go wrong. You can carry out unlimited 3rd party transactions seamlessly and enjoy the inherent benefits.

FirstPremium Term Deposit Account

FirstPremium Term Deposit is a value-added term deposit product which offers higher interest rates than the conventional term deposit

First Savings Plus Account

It is a hybrid savings account that runs on a savings platform with current account features for your convenience.

First Hi-Fi (Children) Account

This is a special account designed for children from age 0 – 18 years to sensitize and cultivate savings culture within this age bracket and to help parents plan towards the future of their children and wards.

First Current Plus (Zero COT Account)

Withdrawal is limited to five (5) times in a month, where a customer exceeds the number of withdrawals, the account will default to N5.00/mille COT on the total customer induced transactions for that month

FirstDom Account

Are you upwardly mobile? Then First Dom Plus is designed for you. It is an account that encourages you to save your foreign currency while still giving you the opportunity to earn higher interest on account balances.

Wholesale Banking 

Our Wholesale banking unit offers the following services

Asset Products

Bankers’ Acceptances

Commercial Papers

Term Loans

Overdrafts

Oil & Gas Contract Finance (OGCF)

Contract Finance

Supply Contract/LPO Finance

Invoice Discounting/Receivable Finance

Distributorship/Suppliers Credit Finance

Warehouse Finance

Revolving Credit

Bills Discounting

Equipment Leasing

Loan Syndication

Regular Agriculture Finance

Project Finance

International Trade Finance

Import Finance

Export Finance

Clean Confirmation/Usance Line

Letters of Credit

Bills for Collection

Form “M” not valid for FX

Invisible Remittance/Payment for services

Foreign Exchange Trading

 

 

Agricultural Financing 

FirstBank’s history is rich with testimonies of strong commitment to agricultural financing. From the early days of currency distribution in support of produce trade between West Africa and Europe to its present status as a financial supermarket, our Bank has continued to play an exemplary role in the development of the nation’s agricultural and allied sectors.

Strengths

  • A large network of branches appropriately positioned for easy access to agricultural enterprises in urban, sub-urban and rural areas;
  • A dedicated team of agricultural professionals specializing in various agricultural disciplines;
  • A suite of sector/customer-friendly agricultural financing products;
  • A large base of existing agricultural and agro-allied clientele across Nigeria;
  • Professorial chairs endowed in some Nigerian Universities in support of research in Agriculture and Veterinary Medicine.

Services and Products
FirstBank’s agricultural financing operations cover a wide array of agricultural activities ranging from production to processing and marketing. Our services are designed to suit the entire range of micro, small, medium and large agricultural businesses. Our product offerings include:

The FirstBank Farm Settlement Scheme
This is a programme designed to create a community where Nigerian youths interested in Agriculture live and work together on individual farm projects in all the states of the federation. It is a classical model of the much desired Public-Private sector partnership involving the Bank, a State Government and the CBN. Under the arrangement, the State Government provides the infrastructure, while the Bank provides working capital and the young farmers contribute their skill and manpower. The objectives of the programme include:

  • Complementing governments effort to create employment
  • Engender national food security
  • Inculcate and stimulate pride in the agricultural profession among young Nigerian
  • Create a new generation of economic actors and employers of labour and contribute to rural development.

Guaranteed Fund Credit (GFC)
FirstBank’s Guaranteed Fund Credit (GFC) enables you to access credit facility of up to N1million as a farmer even when you can only provide 25% security cover for your borrowing. Farmers with collateral can access as much as N10million under this scheme.

The Guaranteed Fund Credit provides credit for various agricultural enterprises under a guarantee fund model. It derives its essence from the Agricultural Credit Guarantee Scheme of the Central Bank of Nigeria.

It enables farmers to enjoy a refund of up to 40% of interest paid on credit facilities under an Interest Draw Back Programme sponsored by the Federal Government and CBN

Multi-Channels Agricultural Finance Scheme (Multi-CAFS)
Multi-Channels Agricultural Finance Scheme helps ease the cashflow problems of salary earners involved in farming. It is the perfect way to keep your farm in business while you get on with the business of your regular job.

The scheme provides working capital support for the small scale farming activities of salary earners. Such farming activities are pursued along side with regular paid employment as a means of augmenting household income. Credit facilities granted under this programme can be repaid from the monthly salary, the farm operation, and any other income generating activity of the farmer.

FirstBank Agricultural Credit To Schools (FACTS)
FirstBank Agricultural Credit To Schools provides working capital loans to secondary schools and tertiary institutions with agricultural and agro-allied projects.

It facilitates the commercialization of school farm projects/ businesses in secondary and tertiary institutions that have agricultural science programs, demonstration/ pilot farms, bakeries or related projects. Although serving primarily to impart knowledge to students, such school projects provide an avenue for the schools to diversify their sources of revenue in the face of insufficient funding. It also stimulates interest in agribusiness and the agricultural profession among youths

National Agro Dealer Scheme (NADS)-Plus
This product is designed to provide credit facilities to agro-dealers, merchants and suppliers of agricultural inputs who will participate in the Federal Government’s Agro Input Purchasing Power Support program. The support program is coming in the wake of the government’s deregulation of and withdrawal from direct procurement and distribution of agricultural inputs. In order to enhance access and ensure affordability, government is complementing the National Agro Dealer Scheme with the Purchasing Power Support (subsidy) to facilitate the off-take of inputs by farmers. This scheme provides an avenue to assist in effective administration of agricultural input subsidy.

GSM 102
The GSM-102 is an export credit guarantee programme. The purpose is to encourage US Exporters and Banks to extend credit to approved foreign buyers of agricultural produce and inputs through approved Banks.

The programme underwrites credit extended by the private banking sector in the United States to FirstBank using dollar-denominated irrevocable letters of credit. Under this arrangement, FirstBank guarantees payment to the US Bank which in turn refinances the U.S. Exporter. A credit limit of $20million is available for use by our valued and tested customers.

With the lower yield of primary agric produce and lingering crises in neighboring African countries, this facility provides a window for sourcing inputs to meet livestock and agro-industrial processing needs at a single digit interest rate.

Commercial Agriculture Credit Scheme
The Commercial Agriculture Credit Scheme is established by the Central Bank of Nigeria and the Federal Ministry of Agriculture and Water Resources as a strategic response to the lingering food and energy crisis worsened by global financial melt down. The fund is sourced from a N200 Billion Federal Government of Nigeria Bond structured into 3, 5 and 10-year tenor, with the same status as any other Federal Government Bonds, and it is secured against the assets of the Federal Government. Based on clearly defined qualifying criteria FirstBank is selected as a participating Bank to disburse the fund to eligible medium and large scale integrated and non integrated agricultural projects.

The scheme is aimed at:

  • fast-tracking the development of the agricultural sector by providing credit facilities to large scale enterprises at a single digit interest rate of 9% in order to enhance national food security, increase food supply and affect agricultural produce and product prices, thereby promoting low food inflation
  • reducing cost of credit in agricultural production and enabling farmers to exploit the potentials in the sector.


Facilities under the scheme enjoy a maximum tenor of five (5) Years and can take the form of Term loans or Overdrafts, targeted at the establishment and operation of new enterprise and expansion of existing business.

 

 Utility Bills Payment 

When you click on the link to make payments online, it redirects you to an InterSwitch site. Follow the steps below to make such payments online.

Step One
You should have Interswitch powered debit card.

Step Two
Register to get an Interswitch Passport Id which is one email and password with which you can login to any site that is Interswitch Passport enabled.

Step Three
Login with your Interswitch Passport Id.

Step Four
Add billing accounts to your profile. These represent corporate organizations to whom you pay money periodically. To add a billing account, you need to have at least made one payment. So the Bill payment wizard will start to enable you to make the required initial payment.

Step Five
When you are done, you can then click a button and that account will be saved against your profile.

Benefits

  • You can pay all your bills anytime from the convenience of your desk.
  • You can view your existing/pending bills as soon as they are available from your billing organization.
  • You can view a summary of all your payments regardless of the location or mode of payment. i.e. The summaries of all the payments you have made at a bank or online will be made available to you.

Bills Payable include
DSTV
Zain
PHCN
Recharge cards

DSTV - Subscribers Payment via ATM
The Payments can be through any of the listed medium.
» Insert your Debit card to initiate a transaction and input your pin number.
» From the transaction selection screen of the ATM

  1. Select Pay Bills
  2. Immediately after this you will be prompted to select the account to pay the bill from
  3. Select the biller (in this case DSTV)
  4. You will prompted to select the item to pay for / Subscription.
    Type (in this case DSTV Bills)
  5. You will be prompted to enter the smart card number of your decoder
    (Enter the 11 digits smart card number)
  6. Press Proceed to continue
  7. Immediately after this you will be prompted of the 100 Surcharge Fee (Select YES to proceed)
  8. Prompt to enter Amount
  9. The Confirm details Screen follows
  10. Press Submit to continue
  11. Immediately displays "Transaction Completed" Screen with option to do another transaction. Press "YES" to do another Transaction or "NO" to Terminate

ZAIN Postpaid - Subscribers Payment via ATM
The Payments can be through any of the listed medium.
» Insert your Debit card to initiate a transaction and input your pin number.
» From the transaction selection screen of the ATM

  1. Select Pay Bills
  2. Immediately after this you will be prompted to select the account to pay the bill from
  3. Select the biller (in this case ZAIN)
  4. You will prompted to select the item to pay for / Subscription.
    Type (in this case ZAIN Bills)
  5. You will be prompted to enter the phone number
    (Enter the 11 digits valid ZAIN phone Number)
  6. Press Proceed to continue
  7. Immediately after this you will be prompted of the 100 Surcharge Fee (Select YES to proceed)
  8. Prompt to enter Amount
  9. The Confirm details Screen follows
  10. Press Submit to continue
  11. Immediately displays "Transaction Completed" Screen with option to do another transaction. Press "YES" to do another Transaction or "NO" to Terminate

PHCN Postpaid - Subscribers Payment via ATM
The Payments can be through any of the listed medium.
» Insert your Debit card to initiate a transaction and input your pin number.
» From the transaction selection screen of the ATM

  1. Select Pay Bills
  2. Immediately after this you will be prompted to select the account to pay the bill from
  3. Select the biller (in this case PHCN)
  4. You will prompted to select the item to pay for / Subscription.
    Type (in this case PHCN Bills)
  5. You will be prompted to enter the Account Reference Number
    (Enter the 12 digits Account Reference Number)
  6. Press Proceed to continue
  7. Immediately after this you will be prompted of the 100 Surcharge Fee (Select YES to proceed)
  8. Prompt to enter Amount
  9. The Confirm details Screen follows
  10. Press Submit to continue
  11. Immediately displays "Transaction Completed" Screen with option to do another transaction. Press "YES" to do another Transaction or "NO" to Terminate

 

Money Transfer 

Over the years FirstBank has built an unassailable leadership position in the market place with its wide network of branches, strong partnership with Western Union and MoneyGram and a penchant for providing longer hours of customer friendly services to its customers.  As a one-stop financial supermarket, the array of our money transfer products is not limited to inbound funds transfer but also include domestic funds transfer – First Domestic Transfer (FDT). The service is available in over 500 branch locations as well as in over 45 weekend/holiday centres.

First Domestic Transfer (FDT)

This is designed to process funds transfer electronically through our online, real-time network of branches within Nigeria. It is set up to meet the needs of businessmen, travelers, students, etc. who move a lot of cash for their transactions. The product gives the Receiver a dual payout option of collecting either cash or bank draft/cheque.

Western Union Western Union

When it comes to receiving money from abroad, there is no better way than FirstBank’s Western Union money transfer services. With over 15 years partnership with Western Union, our wealth of experience in pioneering remittance payout gives us the edge in the market. With over 542 payout locations across the country, our team of operators work through the week to provide you with adequate supply of foreign and local currencies to meet your demands. So think FirstBank when next you want to receive money through Western Union money transfer and avail yourself with our fast, secure and convenient payout services. 



MoneyGram

When you want to receive money through MoneyGram, choose a bank that has the network of branches, the best experience in remittance payment and the option of currency of choice either in dollars or local. With FirstBank’s MoneyGram services, you are assured of receiving your money every weekday at any of our branches nationwide. For safety, convenience and efficient payout services, choose FirstBank’s MoneyGram services. 

Executive Team 

Click on a picture for details about a member of the Team

Stephen Olabisi Onasanya, FCA
Group Managing Director/Chief Executive Officer (GMD/CEO)
 
Kehinde Lawanson
Executive Director (Corporate Banking)
Bello Mohammed Maccido
Executive Director (Retail North)
Remilekun A. Odunlami
Chief Risk Officer
Mr Urum Kalu (UK) Eke
Executive Director , Public Sector South
Bernadine Okeke
Executive Vice President and Head of Private Banking
Gbenga Shobo
Executive Vice President (Retail South)
Tijjani Mohammed Borodo
Executive Vice President (Company Secretary)
Adebayo Adekola Adelabu
Chief Financial Officer (CFO)
Dauda Lawal
Executive Vice President, Public Sector North
 

 

 

 

 



 

 

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