First Bank of Nigeria plc

Strength & Stability in Uncertain Times

Annual Report & Accounts 2009

Introduction

Case Study Gallery

Black Diamond, Victoria Island, Lagos

Black Diamond

Black Diamond, a residential apartment building under construction in Victoria Island, Lagos owned by Atrib Group, financed by FirstBank

Located at 20/24 Ozumba Mbadiwe Street, Victoria Island, Lagos, Black Diamond is a 264 unit apartment building under construction, owned by Atrib Group and solely financed by FirstBank. The facility will provide upscale residential accommodation.

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Barbedos Ventures Limited

Barbedos Ventures Limited

Barbedos Ventures Limited taking delivery of fertiliser import financed by FirstBank

Barbedos Ventures Limited was granted a facility to import fertiliser from the Ukraine and to take care of the local logistics of clearing, bagging and haulage of the fertiliser from warehouses in Lagos to the various offtakes. The transaction will have a positive impact on the quest for sustained agricultural development and national food security.

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Cadogan Place, Victoria Island, Lagos

Cadogan Place

Cadogan Place, a residential apartment block in Oniru, Victoria Island, Lagos owned by Atrib Group, financed by FirstBank

Cadogan Place is a residential apartment block located at Oniru, Victoria Island, Lagos, owned by Atrib Group and solely financed by FirstBank. The facility will provide high-quality residential accommodation.

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Radisson Hotel, Victoria Island, Lagos

Radisson Hotel

Strategically located at 1 Ozumba Mbadiwe Street, Victoria Island, the Radisson is a 170-room, five-star hotel being promoted by Anchorage Leisure Limited, to be managed by the Radisson SAS Group of Denmark. The project is being financed through a syndication of banks including FirstBank, with a syndicated medium-term debt facility contributed by the banks and a 25% equity contribution by the stakeholders. The project is expected to complete in October 2009 and the hotel should be commissioned before the end of December 2009.

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Central Hotels, Kano

Central Hotels

Central Hotels Limited, Kano, a hospitality project financed by First Funds Limited on behalf of FirstBank

Central Hotels Limited is situated on Bompai Road, Kano. It is an upper three-star hotel with 209 rooms. On completion, the hotel will be managed by African Sun Limited of Mauritius using the Holiday Inn brand to provide high-quality hospitality services in Kano to various grades of travellers and tourists. It is the first internationally branded hotel in Kano.

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Tejuosho Market, Surulere

Tejuosho Market

The new Tejuosho Market in Surulere, Lagos, under construction with financing from FirstBank

In pursuit of the Lagos State Government's policy to increasingly modernise markets in the state, the project is meant to establish an ultramodern market complex in place of the old Tejuosho market, which was gutted by fire a while ago.

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Adeniran Ogunsanya Shopping Complex, Surulere

Adeniran Ogunsanya Shopping Complex

The new Adeniran Ogunsanya Shopping Complex in Surulere, Lagos, under construction with financing from FirstBank

Aligned with the Lagos State Government's goal to modernise markets in the state, the ongoing reconstruction of Adeniran Ogunsanya Shopping Complex will provide shoppers with a value-added retail environment.

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Mimonet Nigeria Limited, Lagos

Mimonet Nigeria Limited

A part of the factory of Mimonet Nigeria Limited, Lagos, a garment manufacturer financed by First Funds Limited on behalf of FirstBank

The company started operations in 1995 as a small fashion house from the family home, but has grown to become a major provider of clothing to individuals across the country.

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FirstBank Big Splash Savings Promo

FirstBank Big Splash Savings Promo

Mrs. Rosita Uzoamaka Agu, a visibly elated customer of FirstBank Ajao Estate Branch, presented with a Toyota Corolla 2008 model as Star Prize Winner of the Enugu Draw in the ongoing FirstBank Big Splash Savings Promo. The Promo is part of the Bank's far-reaching initiatives to further delight its valued customers.

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Amo Sieberer Hatchery Nigeria Ltd, Awe

Amo Sieberer Hatchery Nigeria Ltd

Amo Sieberer Hatchery Nigeria Ltd, Awe, a fully automated poultry operation financed by FirstBank

The company is one of the foremost poultry farms in Nigeria, producing high-quality day old chicks, both layer and broiler. Breeding is carried out by scientific method of artificial insemination. They have been an account with FirstBank for over twenty years.

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Durante Farms, Oyo

Durante Farms, Oyo

Thoroughbred cattle at Durante Farms, Oyo, an integrated farming company financed by FirstBank

Durante Industries Limited deal in table fish, fish seeds and fish feeds production as well as extensive cash crop farming and cattle breeding. They revolutionised fish farming in the country by introducing high-quality fish seeds, high-quality floating and sinking feeds, construction and installation of water recycling rearing systems. They own a six hundred acre farm complex in Oyo and have been an account with the Bank for over four years.

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Faculty of Social Science Building, Obafemi Awolowo University, Ile-Ife

Faculty of Social Science Building, Obafemi Awolowo University

This new Faculty of Social Science Building, Obafemi Awolowo University, Ile-Ife, was constructed under the FirstBank Universities Endowment strategic projects initiative, to provide much needed infrastructure in Nigerian universities.

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Support for Health and Welfare

Support for Health and Welfare

Eileen Hopkins and Heidi Al-Askary, facilitators from the United Kingdom, at a training workshop on Understanding Children on the Autism Spectrum, sponsored in Abuja and Lagos by Zamarr Institute with sponsorship from FirstBank.

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Support for Education and Youth Development

Support for Education and Youth Development

The top three winners in the 2008 FirstBank Annual Undergraduate Essay Competition with Mr. J. M. Ajekigbe, the Bank's former MD/CE (first right) and Lt.-Gen. Garba Duba (rtd.), a Director of the Bank.

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Support for Sports Development

Support for Sports Development

Ultramodern VIP/Senior Staff Club Centre at The University of Nigeria Nsukka (UNN), donated by FirstBank for the hosting of the Nigeria University Games by UNN in December 2008.

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Support for Beautification of the Environment

Support for Beautification of the Environment

The Costain Roundabout Beautification initiative, an environmental sustainability project of FirstBank.

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IRS Rice Mills Company Kano

IRS Rice Mills Company Kano

The bagging section of IRS Rice Mills Company Kano, financed by FirstBank

The project was conceived and executed by the prime mover Khalifah Sheikh Isiyaku Rabiu, Group Chairman of IRS Group, who has had an account relationship with the Bank for over 57 years. The Bank is providing working capital requirement of over N3 billion for the importation of brown rice and procurement of paddy rice for processing to parboiled and polished rice of international standard.

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West Farms Limited, Ibeju Lekki, Lagos

West Farms Limited, Ibeju Lekki, Lagos

Cross-section of the 108 on-growing tanks at West Farms Limited, Ibeju Lekki, Lagos, financed by First Bank

Conveniently located on the Lekki-Epe Expressway in Lagos, West Farm is currently the largest recirculation catfish farm in Nigeria, with annual production capacity of 1,600 tons of table-size catfish and 2.8 million fingerlings. The company has successfully built business alliances which ensure that West Farms is always in tune with current practices in the global aquaculture industry.

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