At a Glance

Founded in 1894, First Bank of Nigeria Plc (FirstBank) is the premier bank in West Africa and the leading financial services solutions provider in Nigeria. The Bank’s contribution to the economic growth and development of Nigeria over the last 116 years has been driven by commitment to the provision of excellent banking services.


At inception, the Bank was incorporated as a limited liability company under the name Bank of British West Africa (BBWA), with the head office originally in Liverpool.


In response to a rapidly changing economic and business environment, we have at various times restructured our operations. In 1957 we changed our name from Bank of British West Africa (BBWA) to Bank of West Africa (BWA). In 1966, following our merger with Standard Bank, UK, we adopted the name Standard Bank of West Africa Limited and in 1969 we were incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968. Changes in our name also occurred in 1979 and 1991 to First Bank of Nigeria Limited and First Bank of Nigeria Plc, respectively.

FirstBank opened its second branch in Nigeria in Calabar in 1900 and, 12 years later, extended its services to Northern Nigeria by opening its Zaria branch. The Kano branch was opened in 1928. Currently with over 570 branches, the FirstBank Group has one of the largest branch networks in Nigeria. In 2002, FirstBank established a wholly owned banking subsidiary in the United Kingdom, FBN Bank (UK) Limited, regulated by the Financial Services Authority (FSA). We thus became the first Nigerian bank to own a fully fledged bank in the UK. In 2007, FBN Bank (UK) set up its Paris office to serve as a marketing base to service francophone West Africa. FirstBank also has a representative office in South Africa and has obtained a licence to open a representative office in China.

As a full spectrum financial services provider our products/services mix has been designed to cater to the needs of our diverse client base. Increasingly strong on services delivered via various electronic platforms, FirstBank’s primary concern is to improve customer transaction convenience, ease of access to our services, and strengthen transaction security.

These three principles inform the organisation of our products/services offering around four back-office product engines responsible for new product development and the deployment of these products bank-wide.

E-Business Products

First Mobile, a mobile phone-based platform for the delivery of banking services.

FirstBank Online, which enables customer transactions via the web.

First Alert provides notifications, by either SMS or email, to customers of transactions on their accounts.

ATMs – our ATMs accept VISA cards, MasterCards and Verve cards, and allow a broad range of financial transactions outside the bustle of the traditional banking halls.

POS terminals deployed to business locations enable electronic card holders to pay/settle their bills for services and purchases.

Debit card (FIRSTCARD) allows customers to pay for goods and services through POSs, ATMs and the web.

MasterCards/VISA cards are internationally accepted credit cards useful for global settlement of bills and payments for goods and services.

Combo cards combine the functionality of debit cards with that of identity and access control cards.

Payment and Collection Products

FirstPAY, an internet-based solution that allows customers to make payments to third parties from the comfort of their homes/offices.

FirstCollect is a robust and customisable e-collection platform that allows big businesses to receive sales revenue or payment for their goods and services through FirstBank branches nationwide.

Utility bills and tax payments enable the Bank to accept subscription payments through its branches nationwide, as well as through its ATMs and via the web for service providers such as Etisalat, Mytv, Hitv, IPNX, MTN and DAARSAT, Multichoice, Zain, PHCN, NITEL, and water rates for the Federal Capital Territory, Lagos, Ogun, Cross River and Enugu states.

First EduPortal, a robust web-based enterprise portal that enables educational institutions to manage academic, administrative, professional, logistics and payment challenges, while providing robust features that include online admissions processing/status checking, session registration, result checking, transcripts request, online school fees payments via the web or through FirstBank branches nationwide.

Consumer Banking Products

HiFi Young Saver Account, a savings account for minors between ages 0 and 18 years. This product seeks to inculcate in the young a savings culture, while providing parents/guardians with an opportunity to set funds aside for the educational needs of their children or wards.

First Savings Plus Account, a hybrid account combining savings account features with chequeing account services, targeted at both individual and business concerns, self-employed professionals, traders and high net worth individuals.

Firstcurrent Plus Account is a zero COT charge account, specially designed to meet the needs of high net worth individuals, upwardly mobile professionals, sole proprietorships, partnerships, public and private limited-liability companies and NGOs, who would rather not pay COT.

Firstdom Plus Account allows depositors with a minimum opening/operating balance of USD5,000.00 to enjoy interest credit as high as 6% per annum on fixed deposits.

Personal home loans are designed to part-finance the acquisition or construction of residential homes for individuals with a steady and verifiable income flow.

Personal loan against salary – designed to meet the customer’s urgent financial needs, this product requires no collateral as it is lent against salary domiciliation.

Auto loans are designed to part-finance the acquisition of automobiles by both individuals and small and medium scale enterprises with verifiable sources of income.

Asset acquisition part-finances the acquisition of assets ranging from household to office equipment and machinery.

LPOs/Receivables/Contract supply financing is a short-term finance facility available for executing contracts with short asset conversion cycles.

Western Union Money Transfer

In 1996, FirstBank and Western Union International partnered to help remove constraints in the path of members of the Nigerian diaspora remitting funds home. The Western Union operations run on a hub and spoke model with the product engine at the head office servicing the over 400 branches that currently pay out dollars throughout the country. The product engine provides marketing and operational support while also spearheading market intelligence and new business initiatives to ensure that the Bank remains at the cutting edge of new developments in the industry.

Wholesale Banking

Asset Products

Bankers’ Acceptances

Commercial Papers

Term Loans

Overdrafts

Oil & Gas Contract Finance (OGCF)

Contract Finance

Supply Contract/LPO Finance

Invoice Discounting/Receivable Finance

Distributorship/Suppliers Credit Finance

Warehouse Finance

Revolving Credit

Bills Discounting

Equipment Leasing

Loan Syndication

Regular Agriculture Finance

Project Finance

International Trade Finance

Import Finance

Export Finance

Clean Confirmation/Usance Line

Letters of Credit

Bills for Collection

Form “M” not valid for FX

Invisible Remittance/Payment for services

Foreign Exchange Trading

Founded in 1894, First Bank of Nigeria Plc (FirstBank) is the premier bank in West Africa and the leading financial services solutions provider in Nigeria. The Bank’s contribution to the economic growth and development of Nigeria over the last 116 years has been driven by commitment to the provision of excellent banking services.


At inception, the Bank was incorporated as a limited liability company under the name Bank of British West Africa (BBWA), with the head office originally in Liverpool.


In response to a rapidly changing economic and business environment, we have at various times restructured our operations. In 1957 we changed our name from Bank of British West Africa (BBWA) to Bank of West Africa (BWA). In 1966, following our merger with Standard Bank, UK, we adopted the name Standard Bank of West Africa Limited and in 1969 we were incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968. Changes in our name also occurred in 1979 and 1991 to First Bank of Nigeria Limited and First Bank of Nigeria Plc, respectively.

FirstBank opened its second branch in Nigeria in Calabar in 1900 and, 12 years later, extended its services to Northern Nigeria by opening its Zaria branch. The Kano branch was opened in 1928. Currently with over 570 branches, the FirstBank Group has one of the largest branch networks in Nigeria. In 2002, FirstBank established a wholly owned banking subsidiary in the United Kingdom, FBN Bank (UK) Limited, regulated by the Financial Services Authority (FSA). We thus became the first Nigerian bank to own a fully fledged bank in the UK. In 2007, FBN Bank (UK) set up its Paris office to serve as a marketing base to service francophone West Africa. FirstBank also has a representative office in South Africa and has obtained a licence to open a representative office in China.

As a full spectrum financial services provider our products/services mix has been designed to cater to the needs of our diverse client base. Increasingly strong on services delivered via various electronic platforms, FirstBank’s primary concern is to improve customer transaction convenience, ease of access to our services, and strengthen transaction security.

These three principles inform the organisation of our products/services offering around four back-office product engines responsible for new product development and the deployment of these products bank-wide.

E-Business Products

First Mobile, a mobile phone-based platform for the delivery of banking services.

FirstBank Online, which enables customer transactions via the web.

First Alert provides notifications, by either SMS or email, to customers of transactions on their accounts.

ATMs – our ATMs accept VISA cards, MasterCards and Verve cards, and allow a broad range of financial transactions outside the bustle of the traditional banking halls.

POS terminals deployed to business locations enable electronic card holders to pay/settle their bills for services and purchases.

Debit card (FIRSTCARD) allows customers to pay for goods and services through POSs, ATMs and the web.

MasterCards/VISA cards are internationally accepted credit cards useful for global settlement of bills and payments for goods and services.

Combo cards combine the functionality of debit cards with that of identity and access control cards.

Payment and Collection Products

FirstPAY, an internet-based solution that allows customers to make payments to third parties from the comfort of their homes/offices.

FirstCollect is a robust and customisable e-collection platform that allows big businesses to receive sales revenue or payment for their goods and services through FirstBank branches nationwide.

Utility bills and tax payments enable the Bank to accept subscription payments through its branches nationwide, as well as through its ATMs and via the web for service providers such as Etisalat, Mytv, Hitv, IPNX, MTN and DAARSAT, Multichoice, Zain, PHCN, NITEL, and water rates for the Federal Capital Territory, Lagos, Ogun, Cross River and Enugu states.

First EduPortal, a robust web-based enterprise portal that enables educational institutions to manage academic, administrative, professional, logistics and payment challenges, while providing robust features that include online admissions processing/status checking, session registration, result checking, transcripts request, online school fees payments via the web or through FirstBank branches nationwide.

Consumer Banking Products

HiFi Young Saver Account, a savings account for minors between ages 0 and 18 years. This product seeks to inculcate in the young a savings culture, while providing parents/guardians with an opportunity to set funds aside for the educational needs of their children or wards.

First Savings Plus Account, a hybrid account combining savings account features with chequeing account services, targeted at both individual and business concerns, self-employed professionals, traders and high net worth individuals.

Firstcurrent Plus Account is a zero COT charge account, specially designed to meet the needs of high net worth individuals, upwardly mobile professionals, sole proprietorships, partnerships, public and private limited-liability companies and NGOs, who would rather not pay COT.

Firstdom Plus Account allows depositors with a minimum opening/operating balance of USD5,000.00 to enjoy interest credit as high as 6% per annum on fixed deposits.

Personal home loans are designed to part-finance the acquisition or construction of residential homes for individuals with a steady and verifiable income flow.

Personal loan against salary – designed to meet the customer’s urgent financial needs, this product requires no collateral as it is lent against salary domiciliation.

Auto loans are designed to part-finance the acquisition of automobiles by both individuals and small and medium scale enterprises with verifiable sources of income.

Asset acquisition part-finances the acquisition of assets ranging from household to office equipment and machinery.

LPOs/Receivables/Contract supply financing is a short-term finance facility available for executing contracts with short asset conversion cycles.

Western Union Money Transfer

In 1996, FirstBank and Western Union International partnered to help remove constraints in the path of members of the Nigerian diaspora remitting funds home. The Western Union operations run on a hub and spoke model with the product engine at the head office servicing the over 400 branches that currently pay out dollars throughout the country. The product engine provides marketing and operational support while also spearheading market intelligence and new business initiatives to ensure that the Bank remains at the cutting edge of new developments in the industry.

Wholesale Banking

Asset Products

Bankers’ Acceptances

Commercial Papers

Term Loans

Overdrafts

Oil & Gas Contract Finance (OGCF)

Contract Finance

Supply Contract/LPO Finance

Invoice Discounting/Receivable Finance

Distributorship/Suppliers Credit Finance

Warehouse Finance

Revolving Credit

Bills Discounting

Equipment Leasing

Loan Syndication

Regular Agriculture Finance

Project Finance

International Trade Finance

Import Finance

Export Finance

Clean Confirmation/Usance Line

Letters of Credit

Bills for Collection

Form “M” not valid for FX

Invisible Remittance/Payment for services

Foreign Exchange Trading