The evolving brand of Nigeria’s oldest banking institution

Key takeaways

  • FirstBank has undergone multiple transformations since its establishment in 1894, adapting to industry shifts and regulatory changes.
  • The bank transitioned from foreign ownership to local incorporation in 1969, aligning with Nigeria’s indigenisation policy.
  • Structural and branding changes continued, including its rebranding to First Bank of Nigeria in 1979 and restructuring into a holding company in 2012.
  • Recent developments include FBN Holdings’ name change to FirstHoldCo and the bank’s planned relocation of its headquarters to Eko Atlantic City in 2025.

FirstBank, Nigeria’s oldest banking institution, has evolved significantly since its establishment in 1894. Initially operating as the Bank of British West Africa, it underwent multiple name changes and ownership shifts, reflecting broader economic and regulatory developments. The 1969 indigenisation policy led to its local incorporation, and in 1979, it was renamed First Bank of Nigeria.
The bank continued to modernise, restructuring into a holding company in 2012. In recent years, governance reforms and strategic moves have shaped its trajectory, with FBN Holdings rebranding to FirstHoldCo and the bank announcing the construction of a new headquarters at Eko Atlantic City. These changes highlight FirstBank’s enduring presence and adaptability in Nigeria’s financial landscape.

Source:

FirstBank, Media Reports

Period:

1894-2025
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