- The Leadership Acceleration Programme (LAP) was designed to develop and infuse critical leadership and change agents within the middle management staff cadre of the Bank.
- The Bank graduated 78 successful participants in the recently concluded second edition. The inaugural edition had 71 graduates, bringing the total number of graduates to 149.
- LAP is among the three core leadership programmes aimed at internally identifying and developing high potential talents who could take up the mantle of being the next generation of the Bank’s leaders. Other Senior Management Development Programme (SMDP) and FirstBank Management Associate Programme (FMAP).
First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has graduated the second set of successful participants in its Leadership Acceleration Programme (LAP). The event held on Thursday, 1 June, 2023, at Oriental Hotels. The inaugural edition that held in 2019 had 71 graduates.
The Leadership Acceleration Programme (LAP) is designed to develop and infuse critical leadership and change agents within the middle management staff cadre of the Bank. It is an intensive skill development programme structured to enhance core leadership and business competencies of elite staff within the Bank. It consists of three instructor-led modular periods adopting a blend of classroom lectures, experiential activities, flipped learning strategies and peer-to-peer discussions to develop the desired talent pool.
The selected participants were immersed into a modular six month – (one week a month) of classroom and group learning focused on developing the right leadership skills needed to generate change and innovation.
Speaking on the initiative, Dr. Adesola Adeduntan said: “The LAP initiative also serves to further emphasise our Bank’s strong corporate governance by creating a transformative learning experience developed along action learning principles and equipping mid-level managers with the necessary knowledge and skills to navigate and adapt to new complexities in the business landscape.
Advising the graduands, the CEO said: “I commend all of you graduating today for your discipline and tenacity in going through the rigours of the programme and finishing successfully. You certainly deserve a round of applause. Having put in the work and paid the dues, I wish I could assure you that the next phase in your career will be less challenging, but as we learnt in elementary science – the higher you go, the hotter it becomes. So, you can expect very challenging yet highly-interesting and rewarding days ahead.
LAP is among the three core leadership programmes. The other initiatives are Senior Management Development Programme (SMDP) and FirstBank Management Associate Programme (FMAP). The initiatives are part of the strategic approach to sustaining performance by being deliberate about building capacity and empowerment of employees from the lower cadres to the upper levels aimed at internally identifying and developing high potential talents who could take up the mantle of being the next generation of the Bank’s leaders, thereby building on its over 129 years heritage since founding.
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for 129 years.
With over 750 business locations and over 200,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 36 million customers. The Bank has an international presence with subsidiaries operating in 9 other countries. These subsidiaries are FirstBank (UK) Limited in London and Paris, FirstBank in The Gambia, FirstBank Sierra-Leone, FirstBank in the Republic of Congo, FBNBank in Ghana, FBNBank in Guinea, FBNBank in Senegal as well as a Representative Office in Beijing, China. The Bank is at the forefront of promoting digital banking in the country and has issued over 12 million cards, the first bank to achieve such a milestone. FirstBank’s cashless transaction drive extends to having more than 12 million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on the FirstMobile platform. It is, by far, the leader in the number of digital transactions per minute across multiple channels.
FirstBank’s commitment to Diversity is shown in its policies, partnerships and initiatives, such as its employees’ ratio of female to male (about 39%:61%; and 32% women in management) as well as the FirstBank Women Network, an initiative that seeks to address the gender gap and increase the participation of women at all levels within the organization. In addition, the Bank’s membership of the UN Women is an affirmation of a deliberate policy that is consistent with UN Women’s Women Empowerment’s Principles – Equal Opportunity, Inclusion, and Nondiscrimination.
Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities available in Nigeria an internationally competitive world-class brand and a credible financial partner.
For six consecutive years (2011 – 2016), FirstBank was named “Most Valuable Bank Brand in Nigeria” by the globally renowned The Banker Magazine of the Financial Times Group and “Best Retail Bank in Nigeria” eight times in a row, 2011 – 2018, by the Asian Banker International Excellence in Retail Financial Services Awards.
Notably, in 2022, the Bank took a long stride on its growth trajectory with the Bank’s Viability and Long-Term Issuer Default Ratings upgraded to ‘B’ from ‘B-‘ (with Outlooks Stable) by Fitch, a leading global rating agency. This is an indication of the Bank’s strong internal capital generation and the corresponding recession of its risks to capitalisation. Fitch also upgraded the Bank’s National Long-Term Ratings to ‘A (nga)’ from ‘BBB (nga)’, to reflect its improved creditworthiness relative to that of other issuers in Nigeria. Furthermore, the Top 100 African Bank rankings 2022 released by The Banker Magazine revealed FirstBank’s ranking as number one in Nigeria in terms of Overall Performance, Profitability, Efficiency and Return on Risk.
Other laudable feats in 2022 include FirstBank’s international recognitions on major indices by Euromoney Market Leaders, an independent global assessment of the leading financial service providers where FirstBank was crowned:
- Market Leader: (tier-1 recognition) in Corporate and Social Responsibility (CSR),
- Market Leader: (tier -1 recognition) Environmental, Social and Governance (ESG),
- Highly Regarded: in Corporate Banking and Digital Solutions,
- Notable: in SME Banking.
Also, in 2022 International Finance Magazine named the Bank “Most Innovative Banking Product in Nigeria” and “Best Retail Bank in Nigeria”. FirstBank was also awarded “Best Corporate Banking Western Africa, 2022” and “Best CSR Bank Western Africa, 2022’’ by Global Banking and Finance Magazine. Other notable awards in FirstBank coffers include: “Best Bank in Nigeria” by Global Finance magazine – fifteen times in a row; “Best Private Bank in Nigeria-2021” awarded by Global Finance magazine; “Best Internet Banking Nigeria” and ‘’Best CSR Bank Africa’’ by International Business Magazine.
In 2023, FirstBank has received notable awards including “Best Private Bank for Sustainable Investing in Africa 2023” by Global Finance Awards; “Best Sustainable Bank in Nigeria 2023” by International Investors Awards; “Best Bespoke Banking Services in Nigeria 2023” by International Investors Awards; “Best Financial Inclusion Service Provider in Nigeria 2023” by Digital Banker Africa; and “African Bank of the Year” by African Leadership Magazine.
Our vision is ‘To be Africa’s Bank of first choice’ and our mission is ‘To remain true to our name by providing the best financial services possible. This commitment is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Customer-Centricity. Our strategic ambition is ‘To deliver accelerated growth in profitability through customer-led innovation and disciplined execution and our brand promise is always to deliver the ultimate “gold standard” of value and excellence to position You First in every respect.
Group Head, Marketing & Corporate Communications
First Bank of Nigeria Limited