FIRSTBANK RECEIVES PROJECT FINANCE DEAL OF THE YEAR AWARD

First Bank of Nigeria Plc, Nigeria’s pioneer and most profitable financial services supermarket, has clinched   the “African Industrial Deal of the year 2006 Award”. The event was organized by London-based Project Finance Magazine, a publication of Euromoney.  

FirstBank was honoured alongside four other Nigerian banks for their participation in the syndicated loan of $205 million to United Cement Company Limited (UNICEM), Calabar, Cross River State.

Project Finance and Euromoney described the loan facility as the boldest initiative to revive the production of cement in Nigeria. The move, the publcation said, would go a long way in developing the real sector of the Nigerian economy. 

Receiving the award on behalf of FirstBank, Mrs. Bola Adesola, Executive Director, Corporate Banking expressed the Bank’s appreciation for the award, saying that FirstBank is widely known as a leading bank in the area of financing large ticket transactions in the real sector.  

“In championing these project syndications, FirstBank is convinced that these are viable projects that will contribute significantly to national development”, Adesola said.

It would be recalled that FirstBank recently received three awards in the year 2006 Bankers’ Committee Merit Award organized by the Bankers’ Committee.  

The three awards, presented to the Bank by the Central Bank of Nigeria (CBN) Governor, Professor Chukwuma Soludo were The Overall Best Bank in Real and Export Sectors Financing; Best Bank in Export Sector Financing and Best Bank in Real Sector Financing.

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