First Bank of Nigeria plc

Strength & Stability in Uncertain Times

Annual Report & Accounts 2009

Business Review

Performance Management

FirstBank's performance management architecture has been designed around three plinths: performance management systems, performance culture and a talent acquisition and development programme.

In the course of the next three years, we shall be defining a clear set of corporate key performance indicators (KPIs) and targets, cascaded to our business units and individual staff. This process shall be complemented by the implementation of a robust performance monitoring and dialogue/review process, and an increase in internal and external accountability and transparency. This process will help the Bank develop a continually strong pipeline of the best industry talent, while freeing resources for investment in and advancement of high performers.

We believe strongly that by ensuring a robust employee value proposition that helps us retain top performers, we shall continue to improve on the noticeable improvement in accountability and performance recorded in the last two quarters.

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