FIRSTBANK
PROVIDES GLOBAL CUSTODY SERVICES
First Bank of Nigeria Plc has received
approval from Central Bank of Nigeria (CBN) to provide Global Custody
Services, as part of its custody business.
Consistent with the need to take advantage
of globalization and the development of the domestic financial market,
FirstBank considers it strategic to provide non-pension and general custody
services that would manage the inflow of foreign direct investment (FDI)
arising from the ongoing economic reforms in the country.
With the Global Custody Services, FirstBank
is poised to attract institutional/individual investors - mainly foreign
banks and Nigerians resident abroad - that require the following services in
the Nigerian market.
Custody and trades/transactions settlement;
Asset Registration;
Nominee Services;
Safe Keeping;
Income Collection;
Corporate Action Services.
In due course, other services such as e-dividend,
e-proxy, taxation services, unit trust trusteeship, among others will be introduced,
as the appropriate industry infrastructure becomes available.
The provision of these services by FirstBank is backed
by robust cutting edge technology to facilitate seamless delivery of the services.
We have already secured the mandate and have an ongoing client relationship with a
leading international financial institution. Besides, we are also in discussion with
other reputable financial institutions to grow the clientele base and develop the global
custody portfolio.
As it is already second nature with FirstBank, we are
fully prepared to provide excellent custodian services to our current and
prospective customers in a dependable manner.
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