FirstBank HQ: Tinubu Vows to Support Banks to Expand, Excel Globally
President Bola Tinubu on Wednesday laid the foundation for the new eco-friendly headquarters of the FirstBank Group in Eko Atlantic City, which he said symbolises Nigeria’s ambition and progress.
Tinubu also vowed to create the enabling environment for banks to excel and expand beyond the shores of Nigeria.
Tinubu, who was represented by Vice President Kashim Shettima, made this observation at the groundbreaking ceremony for the eco-friendly headquarters of the company.
The bank has revealed that the building is a 40-story edifice set to be the tallest building in Nigeria and an engineering and environmental delight due to its technologically advanced, eco-friendly, and sophisticated construction, which would set a new standard for the financial services sector in Africa.
Shettima said, “Today we lay the foundation for a monumental structure in Nigeria’s financial landscape, the First Bank iconic tower, a symbol of our nation’s progress and ambition. This tower will stand as a testament to our economic strength and vitality. The tower, which will be the tallest building in West Africa at 40 stories upon completion, is a symbol of confidence in our country’s future. For 130 years, FirstBank has been a pillar of our economy, empowering businesses, supporting families, and driving financial innovation. FirstBank has extended its reach from Lagos to London and all around major financial centres worldwide, proudly flying Nigeria’s flag on the global stage.
“This tower will symbolise ambition and excellence in Eko Atlantic, an investment that consolidates Lagos as a leading financial hub and showcases the dynamism of Nigeria’s private sector.”
He also hailed the Chagoury Group, the brains behind the Eko Atlantic City.
“As president, I reaffirm our unwavering commitment to fostering an environment where significant investment and transformative projects like this can thrive through bold economic reforms, strategic public-private partnerships, and infrastructure development. We are ensuring that Nigeria once again becomes the top destination for investment.
“Beyond the scale of this project, we must remember that the people are what made FirstBank iconic. FirstBank’s customer base reflects the heart of Nigeria itself. Millions of men and women and children, small businesses, and MSMEs are the very backbones of our economy. FirstBank has woven itself into the social fabric of the country. It is a bank that has worked hand in hand with generations of Nigerians, driving economic progress. The symbolism of the elephant in its corporate identity speaks to our nation’s character. Elephants are strong, resilient, wise, and nurturing, carrying the wisdom of generations as they lead their herds. FirstBank embodies this spirit. Standing firm but moving forward with vision, agility, and a deep commitment to Nigeria’s prosperity. I commend FirstCo Holdings and all its stakeholders who, with their vision, have made this possible. We are not just starting a building; we are beginning a picture where Nigeria leads, prospers, and inspires. May this tower, like FirstBank, remain a monument of shared prosperity in our land,” he asserted.
The governor of Lagos State, Babajide Sanwo-Olu, during his goodwill message, presented the certificate of approval to the bank for it to commence construction immediately.
He said, “First Bank, as usual, has led the way. I want to thank the visionaries who created a new city that will be Africa’s model city that all of us will be proud of. Mr. Femi Otedola, well done, well done to your board, well done to your management, and CBN Governor, thank you for the approval. We want you to give other financial institutions approval as well. There is space for them as well.
“I’m going to hand over a certificate of approval for them to commence work immediately.”
The Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, in his welcome address, said, “The groundbreaking ceremony is a momentous occasion for us to redefine our commitment to position solidly as the bank for the future. Therefore, this new headquarters is not just about a modern architectural masterpiece; it is reimagining banking for generations yet unborn. It will serve as a hub for financial innovation, digital transformation, and operational excellence, ensuring that FirstBank remains ahead in an era where technology is reshaping activities.
“Situated in the heart of Eko Atlantic City, the iconic FirstBank headquarters complex, a 43-story edifice, will become the tallest building in Nigeria upon its completion.”
The chairman of the parent company, FirstHoldCo, Femi Otedola, in his comments, appreciated the gathering and stakeholders who made the vision while promising the bank’s customers financial innovations.
He said, “The groundbreaking ceremony represents a significant milestone in the history of FirstBank since its inception. Grateful to the president for his support and the vice president, who, despite his tight schedule, made it to the event. I appreciate Governor Sanwo-Olu for his unwavering support and, most importantly, for creating a conducive environment for business and investments.
“I appreciate the CBN for its efforts in sustaining the stability of the Nigerian financial services industry. I commend the Chagoury Group for their commitment to the infrastructural growth of the Nigerian economy. Worthy of note is that Chagoury has always been an inspiration and business model to me. I have personally felt that the creation of Eko Atlantic City is the ninth wonder of the world, coming after the eighth wonder, which is the Dangote Petrochemical City. These two wonders continue to reaffirm that Nigeria is indeed a great nation.
“To our customers and stakeholders of the bank, we must constantly be reminded that FirstBank is and will continue to be a legacy to behold. We shall continue to invest in cutting-edge technology, vibrant human capital, strategic partnerships, and customer-centric innovation that will define banking globally even as we detail our footprint across Nigeria, Africa, and the world. Thank you all for being a part of our rich heritage as we unveil this iconic building that will serve as the engine room of the bank’s next phase of dominance in the financial services sector and efforts to contribute our quota to the financial inclusion.”
The ground-breaking ceremony was attended by the governors of Ogun and Ondo States, Dapo Abiodun and Lucky Aiyedatiwa; the founder of the Dangote Industries, Aliko Dangote; the co-founders of the Chagoury Group, Gilbert and Roland Chagoury; Chairman of Pacific Holdings, Dr. Deji Adeleke; Tunde Folawiyo; former Senate President, Bukola Saraki; former Delta State governor, James Ibori; and the governor of the Central Bank of Nigeria, Olayemi Cardoso, who has represented the Deputy Governor, Financial System Stability Directorate, Philip Ikeazor. The Deputy Governor, Corporate Services Directorate, Ms. Emem Usoro, was also present among other dignitaries.
With a legacy spanning over 130 years, FirstBank has consistently demonstrated its commitment to innovation, customer-centricity, and sustainable business practices. The bank has a robust international presence, operating subsidiaries in nine countries across three continents.
