Country
Nigeria
Sector
Financial Services
Intelligence Type
Corporate
Status / Stage
Active
Confidence
Confirmed
Latest Development
Nigeria’s oldest commercial bank (1894) and one of its three largest by assets. Completed recapitalisation to meet CBN’s NGN500bn minimum capital requirement. Femi Otedola (billionaire investor) became largest individual shareholder in 2022. 900+ branches — Nigeria’s most extensive banking network.
Company Profile
Company TypePublic
HeadquartersLagos, Nigeria
Countries of OperationNigeria; Ghana; Senegal; Gambia; Sierra Leone; Guinea; DRC; UK
Founded1894
Websitefirstbankng.com
Key ExecutivesOlusegun Alebiosu (GMD/CEO)
Employees~13,000
Revenue~$1.5bn (2024)
Market Capitalization~$2bn (NGX August 2026)
Key Developments
Completed CBN NGN500bn recapitalisation. Femi Otedola influence has been a positive governance catalyst since 2022. Retail banking franchise and 900+ branch network remains Nigeria's most extensive.
Key Risks
Legacy NPLs. Technology system reliability. Competition from digital-first banks.
Commercial Opportunity Intelligence
Commercial ReadinessCommercially Active
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)FBNHoldings NGX disclosures; Businessday NG
Source Date2024–2026