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Tag: First Bank Nigeria Plc

Otedola asks top First Bank official to resign over 'wasteful party'
News

Otedola asks top First Bank official to resign over ‘wasteful party’

The global head of marketing and corporate communications at First Bank, Folake Ani-Mumuney, has been asked to step down by Femi Otedola, chairman of the bank’s holding company, TheCable reported on Monday. The call for her resignation by Otedola stems from being “deeply angered” upon discovering that a substantial amount was spent on a send-off […]

News

First Bank recovers N456bn loan from Heritage Bank

First Bank has received the full repayment of a “N456 billion loan” that was given to Heritage Bank This recovery is a component of a “bailout loan” that was arranged under the governorship of Godwin Emefiele, the previous governor of the Central Bank of Nigeria, according to Nairametrics. According to top sources from First Bank, […]

First Bank lays off 100 senior staff in restructuring move
Banking

First Bank manager steals N650m from 35 customers

Alex omenye A bank manager from a branch of First Bank in Osogbo, Mr. Adeniyi Talabi, has been apprehended by the Osun State Police Command on Tuesday. The allegation against him is the embezzlement of a staggering N650 million belonging to 35 bank customers. According to the command’s spokesperson, Yemisi Opalola, the suspect supposedly carried […]

Banking

Adesola Adeduntan steps down as First Bank CEO

The Managing Director of First Bank Nigeria Limited, Dr. Adesola Kazeem Adeduntan, has resigned from the bank after leading the institution for three terms. This was disclosed in a letter addressed to the bank’s board chairman, Tunde Hassan-Odukale titled, according to Thisday. Adeduntan’s tenure ought to elapse on December 31 2024, but the Bank CEO […]

First bank appoints five new directors
Banking

FBN Holdings reports N362.24bn unaudited pre-tax profit

Bisola David The unaudited condensed financial statements for FY 2023 have been released by FBN Holdings. The company declared a N362.24 billion profit before taxes for the year, a 129% increase over the N157.90 billion it reported for FY 2022. The Times reported that the company recorded interest income of N917.71 billion for the fiscal year […]

First Bank restates commitment to support FMCG wholesalers
Business

First bank shareholders stage protest against annual meeting

Some shareholders demonstrated at FBN Holdings’ headquarters on Monday against an attempt to prevent the financial company from holding its Annual General Meeting as planned. Minority shareholders assembled in front of the headquarters held placards and urged that the institution be let fulfill its legal obligation to host AGMs. The head of the Trusted Shareholders’ Association, Mukhtar Mukhtar, spoke […]

FBN Insurance targets 1m customers in one year
Business featured

Prepare for unexpected challenges, First bank urges SMEs

By Wilson Adekumola   FirstBank of Nigeria Limited has called on Small and Medium Enterprises to build sustainable revenue base in naira and foreign currencies for their businesses against unexpected business challenges.   The bank’s Group Head of Retail Banking, Oludolapo Adigun, gave this urge during a webinar under the SMEConnect initiative dubbed, ”The Power […]

First Bank makes biggest single-day trade since 2012
Banking

First Bank makes biggest single-day trade since 2012

The stock exchange reported that 4.7 billion shares of First Bank of Nigeria Holdings were exchanged on Thursday, the most in a single day since 2012. According to BusinessDay, the shares were sold for N19 each, totaling N87.8 billion which represents 13% of Nigeria’s oldest bank’s outstanding market value, indicating the significance of the transaction. Although […]

FBN Insurance targets 1m customers in one year
Insurance

FBN Insurance targets 1m customers in one year

First Bank of Nigeria Insurance Limited said it will be in increase its policyholders from 400,000 to 1 million in the next one year. According to Vanguard, FBNInsurance Managing Director, Mr. Tunde Mimiko said this at a press conference. He disclosed, “This is not about promises, we have the personnel to achieve this. We are […]