Renowned legacy financial institutions often stand as giants in the global economy, their foundations laid in centuries past. These venerable institutions have weathered economic storms, adapted to technological revolutions, and shaped the very fabric of modern finance.

From the marble halls of London’s oldest banks, the imposing skyscrapers of Wall Street, to the bustling business landscape of Lagos, Nigeria, legendary financial entities carry the weight of history on their shoulders. Their names evoke a sense of stability and tradition, hard-won through decades of prudent management and strategic foresight. Their influence extends far beyond balance sheets, often intertwining with the economic policies of nations.

In the bustling port city of Lagos in 1894, as the British Empire was at its zenith and Nigeria was still decades away from independence a financial institution was born that would not only witness but actively participate in the making of a nation. FirstBank of Nigeria, known then as the Bank of British West Africa (BBWA), opened its doors with a modest paid-up capital of £12,000. Little did its founder, Sir Alfred Jones, a Liverpool shipping magnate know that his bank would evolve into a financial colossus, standing tall through two centuries and becoming an indelible part of Nigeria’s economic trajectory.

The Bank’s early years were marked by steady growth and strategic moves. In 1912, BBWA made its first major acquisition, absorbing its competitor, the Bank of Nigeria (formerly Anglo-African Bank). This merger, the first of its kind in Africa, set the stage for the Bank’s expansionist vision. The same year saw the opening of two significant branches: one in Calabar, opened by King Jaja of Opobo, marking the Bank’s presence in the Eastern region, and another in Zaria, establishing the first bank branch in northern Nigeria.

As Nigeria moved towards independence, the bank evolved alongside the nation. In 1957, it shed its colonial moniker, becoming the Bank of West Africa (BWA). A decade later, in 1966, a merger with Standard Bank UK led to another name change: Standard Bank of West Africa Limited. By 1969, recognising the winds of change, the bank incorporated locally as Standard Bank of Nigeria Limited, aligning with Nigeria’s post-independence companies’ decree.

The Bank’s commitment to Nigeria’s development was evident in its financial support for key infrastructure projects. In 1947, it advanced the first long-term loan to the colonial government, and in 1955, it partnered with the government to expand the railway lines, laying the groundwork for the country’s transport network.

The 1970s and 1980s saw the Bank cementing its Nigerian identity. In 1971, the bank was first to be listed on the Nigerian Stock Exchange (NSE). In 1979, it became FirstBank of Nigeria Limited, and in 1991, it transformed into a public limited company. This period also marked the beginning of the bank’s technological journey. In 1991, FirstBank introduced the first ATM at its Marina headquarters in Lagos, ushering in an era of convenient, real-time banking for Nigerians.

The turn of the millennium saw FirstBank accelerating its innovative drive. In 2002, it established FBN Bank (UK) now FirstBank UK, becoming the first Nigerian bank to wholly own a full-fledged bank in the UK. The bank continued to blaze trails introducing the Finn One credit administration software in 2007, a first in Africa. FirstBank’s commitment to innovation continued with the launch of the first biometric ATM and the first cash deposit ATM in Nigeria.

The 21st century has seen FirstBank expanding its footprint across Africa. In 2011, the bank acquired the Bank International de Credit (BIC) in the Democratic Republic of Congo. Two years later. it further expanded its pan- African presence by acquiring ICB assets in Guinea, Gambia, Sierra Leone, and Ghana.

In response to regulatory changes, FirstBank underwent a significant restructuring in 2012, becoming a subsidiary of FBN Holdings Plc. This move allowed the Bank to streamline its operations while maintaining its core banking services.

Thirteen years later, in 2025, FBN Holding Plc rebranded as FirstHoldCo, aiming to amplify the collective impact of its subsidiaries and operate under a unified brand identity, leveraging the significant brand of equity of its flagship subsidiary, FirstBank.

Throughout its history, FirstBank has been a pioneer in the Nigerian financial sector. From being the first bank to be listed on the Nigerian Stock Exchange in 1971 to launching the first university endowment programme in Nigeria in 1994, the Bank has consistently led the way in corporate responsibility and financial innovation. It is also remarkable that when FirstBank celebrated its centenary anniversary in 1994, its corporate headquarters at Marina, Lagos, was renamed after Chief Samuel Oyewole Asabia (1931-1993), economist, administrator and the first Nigerian Chief Executive Officer of the bank. The renaming was indeed well deserved as the headquarters project was conceived and started during his tenure which was from 1977 to 1984.

As FirstBank celebrates its 131st anniversary, it is noteworthy that FirstBank is not only the oldest continuous!y operating company in Nigeria today; it is listed amongst the oldest companies in Africa and the world. In fact, it is a celebrated member of the CNN 100 Club, an elite club of businesses that have operated for 100 years and more. This iconic financial behemoth stands not just as a bank, but as a living chronicle of Nigeria’s financial history. From its humble beginnings in colonial Lagos to its current status as a digital banking leader, FirstBank has demonstrated an uncanny ability to adapt, innovate, and grow.

The Bank’s journey mirrors Nigeria’s own story, from colonial subject to independent nation, from an agrarian economy to an emerging market powerhouse. As Nigeria continues to evolve, FirstBank remains at the forefront, ready to write the next chapters in the nation’s financial story.

With 131 years of experience as its foundation, FirstBank looks to the future with confidence, poised to continue its legacy of pioneering banking services, fostering economic growth, and remaining, as it has always been, truly the first.

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