First City Monument Bank has been named Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria, after leading the industry with a 24 per cent share of the N1.8tn SME disbursements in 2024.
The award, presented at the 60th Annual Bankers Dinner in Lagos, highlights FCMB’s strong commitment to financing and supporting small and medium-sized businesses nationwide.
The bank said its SME financing programmes are directed at the real drivers of Nigeria’s economy.
It noted that its investment priorities mirror the country’s top-performing sectors in Q3 2024, including Crop Production (26.51 per cent), Trade (14.78 per cent), and Telecommunications (13.94 per cent).
This includes Real Estate (5.43 per cent) and Food, Beverage and Tobacco (4.06 per cent). The award was determined using industry-wide lending data from the Central Bank of Nigeria, which tracks how financial institutions support the enterprise ecosystem.
FCMB added that, beyond financing, it provides entrepreneurs with training, advisory services and strategic partnerships designed to help them navigate business challenges and achieve sustainable growth.
Accepting the award on behalf of Managing Director and Chief Executive Officer Yemisi Edun, the bank’s Executive Director of Wholesale Banking, Obaro Odeghe, said the honour reaffirms FCMB’s commitment to strengthening Nigeria’s SME sector.
“We are truly honoured to be recognised by the CIBN, based on data from the Central Bank of Nigeria. This recognition affirms our purpose as an institution committed to making a meaningful difference in the lives of Nigerian entrepreneurs, who are the backbone of our economy.
“We will continue to support SMEs with the accessible finance, technology, and expert advice they need to grow. By strengthening these businesses, we drive productivity and contribute directly to national development,” Edun said.
The Chartered Institute of Bankers of Nigeria, the country’s primary professional body for bankers, organised the awards to spotlight progress and resilience across the financial services industry. FCMB’s strong showing on the night was further underscored by the recognition of one of its staff members, Tooritsemoshe Ojei, who received the Next Generation Class of 2025 Award for exceptional performance and leadership potential.
The bank said it remains committed to driving inclusive growth by connecting people, capital and markets within Nigeria and across the diaspora.
The latest award adds to a growing list of recognitions, including the Excellence Award for Promoting Financial Inclusion for Grassroots Entrepreneurs in Nigeria from the Mastercard Foundation; SME Financier of the Year (Africa) from the Global SME Finance Forum/IFC; and Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria from the Development Bank of Nigeria.
