FirstBank clarifies misleading reports, assures seamless banking operations
Lagos, Nigeria – October 24, 2024 – We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank.
The
message which was incorrectly interpreted and reported was sent to, and
intended for our vendors only and focused on transitioning from our current
I-Supplier Platform (our automated platform that connects us to suppliers) to a
new Cloud-based Supplier Platform (worldclass platform for managing suppliers),
to enable additional capabilities and benefits for our vendors.
Please
be informed that no system upgrade is currently underway, and all our customer
applications are fully operational. We are not experiencing disruption to our
services, and our banking systems, customer transactions, channels, etc, will
not be affected by the enhanced supplier platform.
Rest
assured that our commitment to seamless service delivery remains unwavering as
you continue to enjoy uninterrupted access to our services.
About FirstBank
First Bank of Nigeria Limited “FirstBank”, established
in 1894, is the premier bank in West Africa, a leading financial inclusion
services provider in Africa, and a digital banking giant.
FirstBank’s international footprints cut across three
continents ─ Africa, Europe and Asia, with FirstBank UK Limited in London and
Paris; FirstBank in The Democratic Republic of Congo, Ghana, The Gambia, Guinea
and Sierra Leone; FBNBank in Senegal; and a FirstBank Representative Office in
Beijing, China. All the subsidiary banks are fully registered by their
respective Central Banks to provide full banking services.
Besides providing domestic banking services, the
subsidiaries also engage in international cross-border transactions with
FirstBank’s non-Nigerian subsidiaries, and the representative offices in Paris
and China facilitate trade flows from Asia and Europe into Nigeria and other
African countries.
For over 130 years, FirstBank has built an outstanding
reputation for solid relationships, good corporate governance, and a strong
liquidity position, and has been at the forefront of promoting digital payment
in the country with over 13 million cards issued to customers (the first bank
to achieve such a milestone in Nigeria). FirstBank has continued to make
significant investments in technology, innovation and transformation, and its
cashless transaction drive has been steadily accentuated with virtually 23
million active FirstBank customers signed up on digital channels including the
USSD Quick Banking service through the nationally renowned *894# Banking code.
With over 42 million customer accounts (including
digital wallets) spread across Nigeria, UK and sub-Saharan Africa, the Bank
provides a comprehensive range of retail and wholesale financial services
through more than 820 business offices and over 243,400 agent locations spread
across 772 out of the 774 Local Government Areas in Nigeria.
In addition to banking solutions and services,
FirstBank provides pension fund custody services in Nigeria through First
Pension Custodian Nigeria Limited and nominee and associated services through
First Nominees Nigeria Limited.
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 organisation. 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 (WEPs) ─ Equal Opportunity, Inclusion,
and Non-discrimination.
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.
In 2023, FirstBank 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; ’’Best Corporate Bank in Nigeria 2023’’ by Euromoney Awards and
‘’Most Innovative Banking Brand - Nigeria 2023’’ by Global Brands Award.
Significantly, FirstBank’s Global Credit Rating was A+
with a positive outlook while ratings by Fitch and Standard & Poor’s were A
(nga) and ngBBB+ respectively both with Stable outlooks as at September 2023.
FirstBank maintained the same level of international credit ratings as the
sovereign; a milestone that was achieved in 2022 for the first time since 2015.
FirstBank continued to gain wide acclaim on the global
stage with several international awards and recognitions received so far in
2024. Some of these include Nigeria’s Best Bank for ESG 2024 and Nigeria’s Best
Bank for Corporates 2024 both awarded by Euromoney Awards for Excellence; Best
SME Bank in Africa and in Nigeria by The Asian Banker Global Awards; Best
Private Bank in Nigeria and Best Private Bank for Sustainable Investing in
Africa by Global Finance Awards; Best Corporate Bank in Nigeria 2024, Best CSR
Bank in Nigeria 2024, Best Retail Bank in Nigeria 2024, Best SME Bank in
Nigeria 2024 and Best Private Bank in Nigeria 2024 all awarded by the Global
Banking and Finance Awards.
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.
Folake Ani-Mumuney
Group Head, Marketing & Corporate Communications
First Bank of Nigeria Limited
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