FirstBank of Nigeria is the oldest and one of the most influential financial institutions in Nigeria and sub-Saharan Africa. The bank is also the oldest bank in West Africa. Established in 1894 by British shipping magnate Sir Alfred Jones, the bank originally operated under the name Bank of British West Africa (BBWA). Its foundation marked the beginning of formal banking in Nigeria, serving the financial needs of British commercial interests and later expanding to support the growing Nigerian economy.
In 1912, the Bank acquired its first competitor, the Bank of Nigeria (previously called Anglo-African Bank), which was established in 1899 by the Royal Niger Company. In 1957, the Bank changed its name from Bank of British West Africa (BBWA) to Bank of West Africa (BWA). In 1966, following its merger with Standard Bank, UK, the Bank adopted the name Standard Bank of West Africa Limited, and in 1969, it was incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968.
The bank adopted the name FirstBank of Nigeria Limited in line with the Nigerian Enterprises Promotion Decree in 1979. These changes signified its transition from a colonial outpost to a fully Nigerian-owned and managed institution. Today, it operates as a subsidiary of FBN Holdings Plc, a diversified financial services group.
With more than 130 years of uninterrupted banking services, FirstBank has consistently maintained leadership in retail banking, corporate banking, and financial services innovation. The bank boasts a vast network of over 750 branches and more than 100,000 Firstmonie agents across Nigeria, providing financial access to underserved communities and advancing financial inclusion.
FirstBank has also maintained a strong international presence, with operations in London, Paris, the Democratic Republic of Congo, Ghana, Gambia, Guinea, Sierra Leone, and Senegal. The bank serves over 30 million customers, making it one of the largest banks in Africa by customer base. The bank’s operations in other African countries are a result of acquisitions in those countries and changing its name to FirstBank as part of its plan for growing its sub-Saharan African footprint.
In recognition of its heritage, resilience, and influence, FirstBank has received numerous industry accolades, including awards for corporate governance, digital innovation, and customer service excellence. The bank’s commitment to sustainability, education, healthcare, and community development is reflected in its corporate social responsibility programs, notably the SPARK initiative (Start Performing Acts of Random Kindness).
As FirstBank looks toward the future, it remains guided by its enduring philosophy of “You First,” symbolizing a customer-first approach that has shaped its success story. The institution continues to play a key role in shaping Nigeria’s economic landscape and banking sector, combining legacy with forward-thinking strategies to remain relevant in a fast-evolving financial world.
