Femi Otedola

Thirteen decades after establishing itself in Nigeria, First Bank of Nigeria Limited, under the leadership of FirstHoldCo Chairman Femi Otedola, is making another bold move. The bank is relocating its corporate headquarters from Marina, Nigeria’s declining financial hub, to Eko Atlantic City—an emerging elite financial district—further cementing its industry dominance.

Founded in 1894, before Nigeria was officially named, FirstBank has played a pioneering role in the country’s financial sector. It was the first Nigerian firm listed on the stock exchange, the first to own an offshore bank, and the first to introduce ATM services in 1991, later leading innovations such as biometric and cash deposit ATMs.

The bank’s latest milestone is the construction of a 44-story eco-friendly tower in Eko Atlantic City, positioning it at the forefront of Lagos’ financial evolution. Following FirstBank’s move, corporate giants like MTN Nigeria and Shell have announced plans to establish offices in the reclaimed coastal city.

At the groundbreaking event, Vice President Kashim Shettima praised FirstBank’s leadership, calling the move a symbol of Nigeria’s economic progress. Lagos State Governor Babajide Sanwo-Olu also commended the bank, highlighting its commitment to sustainable development.

The new headquarters aligns with FirstBank’s financial growth. In 2023, its total assets reached ₦16.94 trillion, with a 165% rise in interest income. Over the past five years, earnings have tripled, and operating profit has surged by over 320%.

With its 2025–2029 strategic vision focused on innovation, AI-driven banking, and customer experience, FirstBank is poised to strengthen its dominance. The new headquarters is expected to inspire the reinvention the bank seeks, setting a new benchmark for Nigeria’s financial sector.