FirstBank’s Payment Card Issuance Hits 10 Million

*FBNHoldings appoints Oluseye Kosoko Company Secretary

First Bank of Nigeria Limited has been named the first financial institution in Nigeria and the West-Africa sub-region to issue 10 million cards to customers across the country. This makes FirstBank the second bank in Africa to achieve this feat.

The groundbreaking accomplishment is reminiscent of a similar milestone achieved two years ago when the Bank in December, 2015 and May 2016, was named the first financial institution in the country to achieve sustained alternative channels transaction volumes of 100 million transactions in December 2015 and May 2016. FirstBank has sustained its edge in payment card issuance with its Instant issuance/Instant activation technology, which was pioneered about 7 years ago. This has also informed the Bank’s consistency in maintaining the highest active Card ratio in the industry.

According to the Managing Director/Chief Executive Officer, First Bank of Nigeria Limited, Adesola Adeduntan “delivering this feat is a testament to the Bank’s brand promise to put our customers first and continuously improve our business to serve them better”. We can attest that our customers have become more technology savvy and we will continue to encourage this attitude with our commitment to world class service delivery as we work to ensure optimal performance and availability of all our alternative channels, to meet and exceed the expectations of our customers. The bank currently processes over 78% of its customer transactions through self-service channels.

Meanwhile, FBN Holdings Plc has announced the appointment of Oluseye Kosoko as Company Secretary, subject to regulatory approval.

In the same vein, Tijjani Borodo, the outgoing Company Secretary will still be around for the next few months to navigate a seamless transition for the substantive Company Secretary.

According to a statement, Tijjani will be retiring after three decades of “combined services to both First Bank of Nigeria Limited and subsequently FBN Holdings Plc, providing exceptional company secretariat and legal support to the Group.”

Prior to Seye Kosoko’s appointment, he had served as Head of Legal and the Company Secretary, Standard Chartered Bank Nigeria Ltd; Managing Solicitor, Henley, Crankshaw Solicitors; Chief Legal Officer/Company Secretary, Econet Wireless Nigeria Limited (Now Airtel Networks); Citibank Nigeria, where he rose to the position of General Counsel/Company Secretary/ and pioneer Country Compliance Head, with oversight for Corporate Affairs. He worked as Tax Consultant at Price Waterhouse and was also one of the pioneer lecturers at the Faculty of Law, Lagos State University. He is a graduate of the University of Ife in 1984 and was called to the Nigerian Bar in 1985. He obtained his LL.M in 1987, from the University of Lagos.

According to the Group Managing Director of FBN Holdings Plc, UK Eke, Seye brings to bear on the Executive Management and Board of FBNHoldings UK over 25 years’ extensive experience in legal framework, company secretarial duties, and governance advisory.  He also stated that Tijjani will be missed as his exemplary dedication to the Group will remain one of the bright spots in the history of FBNHoldings. “We welcome Seye on board while we wish Tijjani many fruitful years ahead.”

Mr. Kosoko’s appointment is consistent with FBNHoldings corporate governance and succession plan that ensures that there is balance of knowledge and experience at the highest decision making levels of the Group.



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