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Firstbank Wins Financial Institution Of The Year At The Afrexim Bank Pan-African Business And Development Awards

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2 years ago

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  • The award was bestowed on FirstBank in recognition of the Bank’s role in promoting trade and investment endeavours across the continent.
  • With its subsidiaries across the FirstBank Group, FirstBank has continued to play a leading role in boosting cross-border businesses, including trade and investment opportunities, essential to enhancing trade relations amongst countries.
  • In 2021, the Bank launched its First Global Transfer (FGT) initiative, specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of FirstBank subsidiaries in Africa.

First Bank of Nigeria Limited, Nigeria’s premier banking institution and leading financial inclusion services provider, has won the Financial Institution of the Year Award at the African Export-Import Bank (Afreximbank) Pan African Business and Development Awards. The ceremony marked the 30th anniversary of Afreximbank as it hosted the inaugural Pan-African Business and Development Awards in association with the Business Council for Africa (BCA), in Accra, Ghana.

The award bestowed on FirstBank is in recognition of the Bank as an epitome of the Pan-African spirit through its leading role in promoting trade and investment across the continent which have been instrumental to strengthening the economic and multilateral business relationship across nations.

Amongst its role in facilitating transactions across borders, in 2021, the Bank launched its First Global Transfer (FGT) initiative, specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of FirstBank subsidiaries in Africa. The FGT is not restricted to FirstBank Group’s Customers alone but it is also open to every individual resident in the country the funds transfer is originating from.

Speaking on the awards, Dr. Adesola Adeduntan, CEO, FirstBank said: “We thank the organisers of the event (Afreximbank, BCA) for the recognition as it reinforces our commitment to promoting trade, finance and investment opportunities across borders which have been instrumental to the continued growth and development of the continent and the world. On behalf of the Board and Management, this award is dedicated to all employees at the FirstBank Group for their diligence and hardwork as well as to our esteemed customers for their loyalty and patronage in over 129 years of existence’’ he concluded.

Also commenting on the awards, Prof. Benedict Oramah, President and Chairman of the Board, who has been at the Bank for over 29 years said: “Tonight we are recognising outstanding leaders and institutions. Having joined the Bank in 1994, I have been fortunate to have worked with many of them… At Afreximbank, contributing to Africa’s development is a lifetime vocation, as I know it is for all those that we have recognised tonight.”

In recognising these leaders and institutions, Arnold Ekpe, chair of the BCA and former Group CEO of Ecobank, said: “Too often our business leaders do not get the praise they deserve. Succeeding in business on the continent is not always easy, but it is rewarding and more importantly it is possible to build strong, profitable businesses that are globally competitive. Our winners tonight have demonstrated this.”

FirstBank has consistently been recognised by reputable global organisations for its steady outstanding performance and amongst the streak of recent wins is the award for Best Financial
Inclusion Service Provider Nigeria 2023 by Digital Banker Africa as well as Best Private Bank for
Sustainable Investing in Africa by Global Finance.

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for 129 years.

With over 800 business locations and over 200,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 41 million customer accounts (including digital wallets) in Nigeria and over 700,000 customer accounts outside the country. The Bank has an international presence with subsidiaries operating in 9 other countries. These subsidiaries are FirstBank (UK) Limited in London and Paris, FirstBank in The Gambia, FirstBank Sierra-Leone, FirstBank in the Republic of Congo, FBNBank in Ghana, FBNBank in Guinea, FBNBank in Senegal as well as a Representative Office in Beijing, China. The Bank is at the forefront of promoting digital banking in the country and has issued over 12 million cards, the first bank to achieve such a milestone. FirstBank’s cashless transaction drive extends to having more than 12 million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on the FirstMobile platform. It is, by far, the leader in the number of digital transactions per minute across multiple channels.

FirstBank’s commitment to Diversity is shown in its policies, partnerships and initiatives, such as its employees’ ratio of female to male (about 39%:61%; and 32% women in management) as well as the FirstBank Women Network, an initiative that seeks to address the gender gap and increase the participation of women at all levels within the organization. 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 Nondiscrimination.

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities available in Nigeria an internationally competitive world-class brand and a credible financial partner.

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.

Notably, in 2022, the Bank took a long stride on its growth trajectory with the Bank’s Viability and Long-Term Issuer Default Ratings upgraded to ‘B’ from ‘B-‘ (with Outlooks Stable) by Fitch, a leading global rating agency. This is an indication of the Bank’s strong internal capital generation and the corresponding recession of its risks to capitalisation. Fitch also upgraded the Bank’s National Long-Term Ratings to ‘A (nga)’ from ‘BBB (nga)’, to reflect its improved creditworthiness relative to that of other issuers in Nigeria. 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 laudable feats in 2022 include FirstBank’s international recognitions on major indices by Euromoney Market Leaders, an independent global assessment of the leading financial service providers where FirstBank was crowned:

Market Leader: (tier-1 recognition) in Corporate and Social Responsibility (CSR),

Market Leader: (tier -1 recognition) Environmental, Social and Governance (ESG),

Highly Regarded: in Corporate Banking and Digital Solutions,

Notable: in SME Banking.

Also, in 2022 International Finance Magazine named the Bank “Most Innovative Banking Product in Nigeria” and “Best Retail Bank in Nigeria”. FirstBank was also awarded “Best Corporate Banking Western Africa, 2022” and “Best CSR Bank Western Africa, 2022’’ by Global Banking and Finance Magazine. Other notable awards in FirstBank coffers include: “Best Bank in Nigeria” by Global Finance magazine – fifteen times in a row; “Best Private Bank in Nigeria-2021” awarded by Global Finance magazine; “Best Internet Banking Nigeria” and ‘’Best CSR Bank Africa’’ by International Business Magazine.

In 2023, FirstBank has 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.

Our vision is ‘To be Africa’s Bank of first choice’ and our mission is ‘To remain true to our name by providing the best financial services possible. This commitment is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Customer-Centricity. Our strategic ambition is ‘To deliver accelerated growth in profitability through customer-led innovation and disciplined execution and our brand promise is always to deliver the ultimate “gold standard” of value and excellence to position You First in every respect.

 

Folake Ani-Mumuney

Group Head, Marketing & Corporate Communications

First Bank of Nigeria Limited

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BIG STORY

Nigerian Firm Codix Bio To Begin Production Of Malaria, HIV Test Kits Amid USAID Fund Cutback

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6 hours ago

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June 20, 2025

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Codix Bio Ltd, a Nigerian company, has announced plans to manufacture millions of HIV and malaria test kits at its new facility for use both locally and across the region.

As reported by Reuters on Thursday, the initiative aims to fill the gap created by funding reductions at the United States Agency for International Development (USAID), a US donor body.

Former US President Donald Trump had initiated a suspension of funding for HIV treatment in developing nations under an executive order concerning foreign aid.

These executive orders also disrupted the activities of USAID and other US-funded foreign aid programmes.

Speaking to Reuters, Olanrewaju Balaja, general manager of Codix Bio, said the plant located in Ogun state will begin distributing the test kits later this month.

He explained that the production will be done in partnership with SD Biosensor, a pharmaceutical firm based in South Korea, and supported by the World Health Organization (WHO).

According to him, the facility initially has the capacity to produce 147 million test kits annually, with potential expansion to over 160 million.

“From the statistics of what is supplied (by USAID and PEPFAR) for a specific programme year, and looking at what we have currently in capacity for Nigeria, we have enough capacity to meet the demand,” Balaja said.

He also indicated that the firm is prepared to expand its services to “West and Sub-Saharan Africa, including other African countries”.

“The focus was for us to be able to play in the field of supply of rapid diagnostic test kits for donor agencies, which particularly USAID was at the forefront,” Balaja added.

Balaja stated that both the Nigerian government and donor organisations such as the Global Fund are expected to source test kits from Codix Bio.

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BIG STORY

Benue Killings: We Are Starving, Dying, IDPs Cry Out

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9 hours ago

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June 20, 2025

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Displaced persons from Yelwata community in Guma Local Government Area of Benue State, affected by coordinated attacks by suspected armed herders, protested on Thursday over poor living conditions in their camp.

The IDPs, currently staying at the International Market in Makurdi, the state capital, took to the streets and blocked major access routes leading to the temporary camp situated on George Akume Way, Makurdi, to express their frustration and the hardship they’ve faced since arriving at the facility.

They accused officials of the state government of diverting relief materials donated by well-meaning individuals and humanitarian groups, which they said has deepened their suffering.

One of the displaced persons, Fidelis Igban from Yelwata, described the conditions at the camp as unbearable due to starvation and a poor environment.

He stated, “Imagine, people would come to the camp and donate food items and other relief materials to us(IDPs), and once those items were handed over to the officials, it will end up not reaching us.”

He added, “Just few days ago, secretary to the government of the federation, Senator George Akume came to the camp and donated some items for onward distribution to IDPs. Up till now, we have not seen anything.”

He also said, “The Senior Pastor of Dunamis International Gospel Centre, Dr. Paul Enenche, came here and donated materials for our consumption, yet nothing gets to us. We are starving and dying here. We want to go back to our homes.”

He lamented the reality of being forced from their homes due to herdsmen attacks, only to face new hardships in the camp after losing loved ones.

“There’s no food, our children are starving, we sleep on the floor, and mosquitoes are almost killing us. We are suffering, and people are dying. officials overseeing camp management were hoarding and diverting donated materials,” he said.

Erdoo Targa, another IDP, said she was six months pregnant when she arrived and has struggled to access medical attention.

She said, “Government brought us here and abandoned us. No food, no medical care, hunger is telling us, we are starving and our children are getting sick day by day”.

She explained that the protest was to call the attention of the government and concerned individuals to their plight.

She urged the state government and relevant humanitarian bodies to investigate the alleged diversion of supplies and ensure fair distribution of aid.

Efforts to contact the Commissioner for Humanitarian and Disaster Management, Aondoaseer Kude, and the Executive Secretary of the State Emergency Management Agency, Dr James Iorpuu, were unsuccessful as they did not respond to calls or text messages.

The agency’s information officer, Tema Ager, said he was not authorised to speak on the protest.

He said, “Kindly get across to the Head of Administration of SEMA or the Commissioner for Humanitarian and Disaster Management. They are in better position to speak to journalists, thanks”.

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BIG STORY

Road To 2027: President Tinubu Has No Rival In Kaduna — Speaker Abbas

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10 hours ago

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June 20, 2025

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Speaker of the House of Representatives, Tajudeen Abbas, has said that residents of Kaduna State do not see any other option besides President Bola Tinubu for the 2027 presidential race.

He explained that the president has significantly impacted the state “In very practical terms” by initiating “A wide range of federal infrastructure projects that directly impact” its citizens.

According to Abbas, because of these efforts, the people of Kaduna are ready to surpass the votes President Tinubu received in the state during the 2023 elections.

He made these remarks during President Tinubu’s visit to Kaduna on Thursday to commission several projects carried out under Governor Uba Sani’s administration.

Among the projects inaugurated were the Institute of Vocational Training and Skills Development in Rigachikun, Soba, and Samaru-Kataf; a 300-bed hospital in Kaduna Millennium City; the 24km Kafanchan Township Road; the Tudun Biri Road; the 22km Kauru-Pambegua Road connecting Kauru and Kubau LGAs; a Vocational and Skills Training Centre in Tudun Biri; and the deployment of 100 Compressed Natural Gas buses.

Abbas noted that Kaduna remains central to Nigeria’s socio-economic growth and said Tinubu’s visit “Reflects a leadership that engages directly, listens attentively, and responds with action.”

In a statement by his Special Adviser on Media and Publicity, Musa Krishi, Abbas was quoted as saying, “Kaduna has no reason to vote for anyone else in 2027. My belief is strengthened by your administration’s commitment to Kaduna in very practical terms. You have initiated a wide range of federal infrastructure projects that directly impact the state of Kaduna.

“Mr President, Kaduna has long been at the centre of Nigeria’s national conversation, politically, economically, and historically. In the 2023 presidential election, the APC received about 30 per cent of the valid votes cast in the State. While that outcome is significant, it leaves room for growth.

“Therefore, on behalf of our governor, our party, and our communities, I assure you that Kaduna is determined to do more. Our goal is to double that margin and secure at least 60 per cent of the vote in 2027. This is not merely a political ambition; it is a coordinated objective backed by a united political structure and a population that believes in your leadership.”

He also praised the president for initiating the Abuja-Kaduna-Zaria-Kano Federal Highway reconstruction, noting it “Was flagged off by Your Excellency in April and reinforced by substantial budgetary approval from the Federal Executive Council.”

He described the $2.8bn Ajaokuta-Kaduna-Kano gas pipeline project, which had reached 72% completion by Q1 2025, as another milestone.

He added, “We also acknowledge with deep gratitude your vow to complete the Ibadan-Abuja-Kaduna-Kano railway project, which will further reinforce Kaduna’s role as a transport hub.

“Other significant projects under your administration include the recent establishment of the Federal Medical Centre in Kafanchan and the Federal University of Applied Sciences in Kachia. For the people of Southern Kaduna, these developments are not merely about access to health and education; they are, more importantly, about federal presence, institutional recognition, and long-overdue inclusion.”

Abbas said Zaria has also benefited under the current administration, stating, “We have also seen measurable progress, made possible by your support and federal backing. Through consistent legislative engagement and collaboration with your administration, we have secured significant federal investment in institutions of higher learning.

“These include the upgrade of the Federal College of Education, Zaria, into the Federal University of Education. Support has also been strengthened for the Nigerian Institute of Transport Technology, the Nigerian College of Aviation Technology, and the Ahmadu Bello University, Zaria.

“Federal funding secured under your administration is helping to expand their infrastructure, modernise their facilities, and increase their capacity to serve Nigeria more effectively.

“Mr President, these are not abstract achievements. They are deliberate outcomes made possible through political will, budgetary support, and executive collaboration,” he added.

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