₦airaland Forum

AKT Takes Yayi’s Governorship Ambition to Women, Community Leaders in Abeokuta

Akintunde Odeyemi (AKT) has stepped up efforts to mobilise grassroots support for Senator Adeola Olamilekan Solomon, popularly known as Yayi, in his bid to become the next governor of Ogun State.

The latest move saw AKT engage women and community leaders from Abeokuta South and Abeokuta North at a meeting held last Friday, bringing together key stakeholders at the ward level.

The engagement reflects a deliberate focus on grassroots mobilisation as political activities surrounding the Ogun governorship race continue to evolve.

Women and community leaders are regarded as important actors in local political mobilisation, given their connections with residents and their ability to influence conversations within their communities.

Through the meeting, AKT sought to strengthen engagement with these stakeholders and reinforce support for Yayi’s ambition to lead Ogun State.

The initiative also highlights the growing significance of ward-level political structures as aspirants and their supporters work to establish stronger connections with communities ahead of the election.

AKT’s engagement with the Abeokuta grassroots marks another step in efforts to rally community stakeholders behind Yayi as the race for Ogun State’s governorship gradually takes shape.

FCMB and Mastercard Launch Digital Platform to Expand Financing for Nigerian Farmers



First City Monument Bank (FCMB) and Mastercard have launched AgroPass, a digital platform designed to expand access to finance, markets and agricultural services for smallholder farmers across Nigeria.

The platform, developed by Mastercard, connects farmers with input suppliers, buyers, lenders, agribusinesses, and other participants in the agricultural value chain, aiming to strengthen financial inclusion and improve productivity in one of Nigeria’s most important economic sectors. The launch combines Mastercard's technology capabilities with FCMB's network and presence in farming communities across the country.

Speaking at the launch event in Lagos, Yemisi Edun, Managing Director, FCMB, represented by Obaro Odeghe, Executive Director, Wholesale Banking, said:

“Supporting farmers means more than offering credit. It is about building connections to finance, markets, technology, knowledge and opportunity. AgroPass is a platform that empowers farmers to become more productive, resilient and commercially successful. By bridging critical gaps across the value chain, we can help build a more sustainable future for agriculture.”

Edun said FCMB provided more than 364.6 billion naira ($236 million) in financing to Nigeria’s agricultural sector last year and supported more than 196,000 smallholder farmers nationwide. Nearly half of the beneficiaries were women and young people.

Agriculture remains a critical pillar of Nigeria's economy, contributing more than 20% of GDP and supporting a significant share of employment across the country. Despite its importance, many smallholder farmers still face barriers to accessing financing, quality inputs, market opportunities, and technical support.

To address these gaps, FCMB has adopted a value-chain financing model that extends support across the agricultural ecosystem, including input suppliers, seed companies, farmers, processors, distributors and exporters.

“Our efforts are boosting agricultural productivity, increasing exports and creating lasting economic opportunities in rural communities,” said Kudzai Gumunyu, FCMB’s Divisional Head of Agribusiness and Non-Oil Exports.

AgroPass builds on Mastercard's broader efforts to strengthen participation across agricultural value chains through technology and collaborations. By creating trusted digital connections between farmers, service providers and buyers, the platform is designed to improve visibility, strengthen access to services and support greater financial inclusion.

Tara Nathan, Executive Vice President, Growth Segments, Mastercard, said:

"Smallholder farmers are at the heart of food systems, rural livelihoods and economic growth across Africa, yet many remain disconnected from the services and opportunities that can help them thrive. AgroPass is designed to bridge those gaps by connecting farmers to financial services, suppliers, buyers and digital tools that support productivity and resilience. Through our collaboration with FCMB, we are helping create a more connected agricultural ecosystem where farmers can build stronger businesses, participate more fully in the economy and unlock new opportunities for growth."

The platform is expected to improve the efficiency and transparency of agricultural transactions while helping farmers manage their businesses and access new markets.

The launch forms part of FCMB and Mastercard's broader commitment to advancing financial inclusion, strengthening food security and supporting sustainable rural development through technology, partnerships and innovation.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a resilient economy where everyone can prosper. We support a wide range of digital payment choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

About FCMB

FCMB provides personal, business, and corporate banking services across Nigeria. Its financial solutions empower individuals and businesses to pursue their goals with confidence. In this way, FCMB brings “My Bank & I” to life while fostering inclusive and sustainable growth in the communities it serves.

EIB Global and First City Monument Bank Join Forces to Support Private Sector and Sustainable Agriculture with €85 million Funding



The European Investment Bank Group’s international development arm, EIB Global, and First City Monument Bank (FCMB) have announced the financing totalling €85 million to support private-sector companies across agricultural value chains in Nigeria. At least 70% of the financing will target cocoa and dairy value chains.

The announcement was made during the Annual Meetings of the International Monetary Fund and the World Bank Group in Bangkok in the presence of EIB Group President Nadia Calviño, Nigerian Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele, EIB Vice-President Ambroise Fayolle, European Commissioner for International Partnerships Jozef Síkela and FCMB Chief Executive Officer, Yemisi Edun.

The operation is EIB Global’s first investment covering the dairy sector outside the European Union and is fully aligned with Nigeria’s development objectives in sustainable agriculture and inclusion as well as environmental and social standards (ESS). The EIB Global financing will address market gaps in the dairy sector, enabling the growth of EU businesses in Nigeria requiring an increase in milk supply.

With Nigeria being one of the world’s largest exporters of cocoa, the investments provided by EIB Global through FCMB will strengthen the industrial processing capacities along the whole value chain, provide liquidity support to cocoa cooperatives and farmers and improve the traceability of products. Compliance with the EU Regulation on Deforestation (EUDR) will be ensured, fostering biodiversity conservation and reducing environmental externalities while supporting inclusive rural development in line with EU standards, the EIB Group’s Climate Roadmap and the European Green Deal.

Alongside the credit line, EIB Global is providing technical assistance to support FCMB’s climate action strategy and the Nigerian agriculture sector’s capacity to manage environmental and social risks.

“The EIB Group invests in agricultural value chains in Africa – main drivers of food security and economic growth,” said EIB Group President Nadia Calviño. “These projects also open business opportunities for EU companies in Nigeria, building a truly a win-win partnership.”

“With this financial partnership with First City Monument Bank, EIB Global concretely supports Nigerian agribusinesses to grow competitively while meeting international environmental and social standards,” said EIB Vice-President Ambroise Fayolle. “Such investment is important for the country in terms of employment, health and the economy, with real impact on the local population. It is a concrete example of the EU Global Gateway initiative in which the EIB Group, as the EU bank, is a key actor and partner in Africa.”

“Nigeria has enormous potential in agriculture,” said European Commissioner for International Partnerships Jozef Sikela. “To turn that potential into more jobs, stronger businesses and new economic opportunities, we need to ensure that more value is created and retained in Nigeria. This Global Gateway investment with EIB Global and First City Monument Bank will help businesses across the cocoa and dairy value chains access the finance they need to grow and expand local processing. That is how we build stronger value chains and deepen the EU-Nigeria partnership for the benefit of both sides.”

“For farmers and agribusinesses, access to finance can make the difference between selling raw produce and building businesses that process more, earn more and create more jobs,” said FCMB Chief Executive Officer Yemisi Edun. “Through our partnership with EIB Global, businesses across Nigeria’s cocoa and dairy value chains will have access to the long-term funding needed to increase production, expand processing capacity and reach new markets. By combining financing with technical support, we aim to strengthen rural livelihoods, promote sustainable growth and help build a more resilient agricultural sector.”

The project aligns with the EU’s geopolitical priorities and Nigeria’s development plans by supporting sustainable food systems and strategic food autonomy. The investment also contributes to the Team Europe Initiative (TEI) on Green Economy, which promotes climate-smart agriculture, inclusive agribusiness, rural access and access to agricultural markets.

Overall in Nigeria, the EIB Group has invested €2.3 billion since the start of its activities in the country in 1978. The financing has supported impactful and transformative investments in crucial areas for Nigeria such as sustainable urban transport, climate adaptation, innovation and digitalisation, and agribusiness logistics as well as small and medium enterprises (SMEs) and mid-caps.

About EIB Global
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives.
EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of Global Gateway. We aim to support €100 billion of investment by the end of 2027. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through our offices across the world. High-quality, up-to-date photos of our headquarters for media use are available here.

About FCMB

FCMB provides personal, business, and corporate banking services across Nigeria. Its financial solutions empower individuals and businesses to pursue their goals with confidence. In this way, FCMB brings “My Bank & I” to life while fostering inclusive and sustainable growth in the communities it serves.

About Global Gateway

Global Gateway is the EU's positive offer to reduce the worldwide investment disparity and boost smart, clean, and secure connections in digital, energy and transport sectors, and to strengthen health, education, and research systems. The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions. Together, we aim to mobilise up to €300 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.

World Sight Day: 400,000+ Beneficiaries, One Priceless Gift


A child can't read, a trader struggles to recognise a customer, and an older person needs help finding their way home. When it becomes hard to see, it also becomes difficult to learn, earn, and live independently.

Sometimes an eye test, glasses, or prompt treatment can help. But what happens when that care isn't available?

That is the need First City Monument Bank (FCMB) and the Tulsi Chanrai Foundation (TCF) set out to address when they launched Priceless Gift of Sight in 2009. By July 2024, the programme had provided free eye care to over 400,000 Nigerians, including eye tests, optical services, surgeries, and disease management.

Last week’s World Sight Day commemoration brought the next challenge into focus: how to make care accessible to more people—and keep it available.

FCMB held a roundtable meeting with the Federal Ministry of Health and Social Welfare, through the National Eye, Ear and Sensory Functions Health Programme, and TCF to discuss partnerships and sustainable funding.

The task is practical. Eye tests need to lead to treatment. Clinics need skilled people and functioning equipment. Patients need support to complete their care.

After more than 15 years of partnership, the goal remains close to everyday life: helping more people see a lesson, serve a customer or find their way home.

Collaboration, Infrastructure and Trust as Drivers of Digital Growth- FCMB

The Chief Technology Officer of First City Monument Bank (FCMB), Blessing Ehize, has called for stronger collaboration among financial institutions, technology companies, regulators, and infrastructure providers to accelerate Nigeria's digital transformation and build a more resilient digital economy.

Ehize made the call while speaking at GrowthX by Techeconomy 2026, held at The Civic Centre, Victoria Island, Lagos, under the theme “Driving Digital Growth Through Innovation and Collaboration.” The inaugural conference brought together industry leaders and experts from the financial services, fintech, technology, digital infrastructure, and cybersecurity ecosystems to examine the opportunities and challenges shaping Nigeria's digital future.

The event featured high-level discussions on data localisation, digital payments, artificial intelligence, cybersecurity, digital infrastructure, and the evolving economics of fintech, providing a platform for stakeholders to exchange perspectives on how technology can support sustainable and inclusive economic growth.

Speaking during the panel session titled “Data Localisation, Security & Future of Payments in Nigeria,” Ehize highlighted the importance of viewing data localisation not only from a compliance perspective but also as an opportunity to strengthen Nigeria's digital infrastructure, cybersecurity and trust in digital financial services.

“Data localisation presents both an opportunity and a responsibility for Nigeria's digital ecosystem. Beyond meeting regulatory requirements, we need to build the infrastructure, resilience, cybersecurity capabilities and talent required to ensure that local data infrastructure can support secure and reliable digital services at scale. This will require collaboration across banks, fintechs, technology providers, regulators and infrastructure players. If we get this right, data localisation can strengthen digital trust and create a stronger foundation for Nigeria's digital economy.”

The panel examined the implications of the Central Bank of Nigeria's data localisation directive for banks, fintechs and payment service providers, including its potential impact on data sovereignty, digital identity, cybersecurity, consumer protection, infrastructure investment and operational costs.

Speaking on the significance of GrowthX, Peter Oluka, Founder and Editor-in-Chief, Techeconomy and Convener, GrowthX, said the platform was created to facilitate meaningful conversations and collaboration among the stakeholders shaping Africa's digital future.

Oluka added that the discussions at GrowthX were designed to move beyond broad conversations about technology and focus on the practical issues affecting those building, regulating, funding, and using digital services in Nigeria.

For FCMB, participation in GrowthX reinforces the Bank's commitment to supporting conversations around technology, innovation, digital transformation, and the future of financial services, while contributing industry perspectives to the development of a more secure, inclusive and resilient digital economy.

FCMB Marks Customer Service Week with Digital Upgrades and Rewards



First City Monument Bank (FCMB) has introduced digital banking enhancements and customer engagement initiatives ahead of Customer Service Week 2026, highlighting its focus on improving service delivery and customer experience.

The annual event, which runs from October 5 to 9 under the theme “The Extra Mile,” comes as banks increasingly deploy technology and service innovations to improve customer interactions and strengthen digital adoption.

Among FCMB’s recent enhancements are expanded authentication options through its Temi chatbot and the integration of transaction e-tokens into customer receipts, allowing customers to access transaction verification details without relying solely on SMS delivery. The bank said the initiatives aim to make banking services more accessible, responsive, and convenient.

According to the KPMG 2025 Nigeria Banking Industry Customer Experience Survey, FCMB’s Mobile App ranked first in the mobile banking and USSD experience categories. Beyond its digital banking platforms, FCMB also ranked first in contact-centre experience.

“At FCMB, customer service is a continuous commitment that shapes how we design our products, deploy technology and engage with our customers,” said Yemisi Edun, Managing Director of FCMB. “We remain focused on listening to customers and improving the solutions we provide to meet their evolving needs.”

Felicia Obozuwa, Executive Director, Corporate Services and Service Management, said the bank aims to build a culture in which employees consistently seek opportunities to improve customer experiences.
“Our goal is to ensure customers feel heard, valued and supported at every interaction,” she said.

As part of Customer Service Week, FCMB will conduct customer and employee engagement activities across its branch network and digital channels.

The bank's executive management team will engage directly with customers at selected branches during the week. Customers who purchase airtime through FCMB's *329# USSD platform will receive a 10% bonus over a three-day period, while new-to-bank customers who purchase airtime worth at least ₦200 through the FCMB Mobile App will enjoy a 20% bonus.

Customers visiting FCMB Premium Lounges in Lagos and Abuja will also be eligible for promotional rewards, while FCMB Kiddies Account holders will benefit from appreciation activities designed for younger customers.
The bank will also organise employee programmes during the week, including a Digital Innovation Pitch, a Banker’s Game Show and a competition centred on service excellence and collaboration.
Customer Service Week is observed globally as an opportunity for organisations to recognise the role of employees in delivering customer service and strengthening business relationships.

FCMB provides personal, business and corporate banking services across Nigeria.

7 Things to Know About the Dangote Refinery IPO



Dangote Petroleum Refinery has opened its initial public offer to investors. Here are the key details.

1. The company is seeking about ₦2.15 trillion

The offer comprises 4.1 billion ordinary shares priced at ₦525 each. If fully subscribed, it will raise approximately ₦2.15 trillion.

2. The offer runs for one month

The IPO opened on Sept. 14, 2026, and is scheduled to close on Oct. 13, 2026.

3. Investors can start with ₦5,250

The minimum subscription is 10 shares. At ₦525 per share, eligible investors can participate with ₦5,250.

4. The IPO will broaden ownership of the refinery

Aliko Dangote described the transaction as an “IPO for the people.” Its low entry point is intended to give Nigerians across different income and professional groups an opportunity to own shares in the business.

5. The transaction could reshape Nigeria’s capital market

FCMB Group Chief Executive Ladi Balogun said the offer could strengthen the Nigerian Exchange and support its ambition to become Africa’s largest and most relevant capital market.

The transaction may also encourage other large African companies to raise capital and list their shares in Nigeria.

6. FCMB Group is participating in the transaction through three operating companies:

FCMB Capital Markets is a joint issuing house.
CSL Stockbrokers is stockbroker to the issue.
First City Monument Bank is a receiving bank and distribution agent.
7. Qualified Investors and High Net Worth Individuals purchasing 50,000 shares and more, with a working stockbroking account should fill out the investor subscription form and credit their account of choice, sending both to FCMB Capital Markets at the following email address: equitycapitalmarkets@fcmb.com
8. Interested Retail investors with an FCMB bank account can subscribe to the DPRP IPO by following these steps:

Log in to the FCMB Mobile App or visit https://www.fcmb.com/
Follow the prompts to the Dangote IPO subscription portal.
Select if you have a CSCS/CHN number.
If yes, fill in the number and follow the instructions.
If not, follow the prompts to open a trading account with CSL Stockbrokers, after which a code will be generated for you.
Ensure your FCMB bank account is sufficiently funded to cover your subscription and authorize the direct debit.

Investors without an FCMB bank account who want to participate in the DPRP IPO can visit the CSL portal at https://cslportal.fcmb.com to open a stockbroking account. Instructions for opening a bank account are available online.

FCMB SheVentures, JSAID Train 100 Interior Designers



Jenniez School of African Interior Design (JSAID) and FCMB SheVentures have trained 100 interior designers to strengthen their financial literacy, business management skills, and ability to build sustainable enterprises.

The programme combined JSAID’s expertise in interior design education, professional development, and entrepreneurship with FCMB SheVentures’ financial and business development support.

Participants received practical guidance on structuring and managing their businesses, making informed financial decisions, and accessing appropriate financial solutions for growth. The training also addressed a key industry challenge: helping designers move beyond creative practice to build commercially viable enterprises.

FCMB SheVentures is the women-focused business proposition of First City Monument Bank (FCMB). It provides women entrepreneurs with access to finance, business support, mentorship, and networks to help them grow their businesses.

Commenting on the initiative, Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segment, FCMB, said: “At FCMB SheVentures, we recognise that entrepreneurs need more than access to finance to thrive. They also need knowledge, networks, and confidence to build businesses that can scale and create lasting value.

“Our partnership with JSAID reflects our commitment to supporting women across sectors of the economy, including the creative industry. By equipping interior designers with financial and business management skills, we are helping them turn their talent into sustainable enterprises.”

Dr Jennifer Chukwujekwe, Founder of Jenniez School of African Interior Design, said: “This collaboration addresses one of the critical gaps in the interior design industry: helping talented designers understand and navigate the business and financial aspects of their profession.

“Creative ability may open the door, but sound business management is what enables a designer to build an enduring enterprise. Through this programme, participants gained practical knowledge they can apply to structure, manage, and grow their businesses.”

The initiative supports JSAID’s mission to develop African interior designers who can compete globally, grow sustainable businesses, and contribute to the creative economy.

The collaboration between JSAID and FCMB SheVentures also reflects the growing recognition of interior design as an economic activity that supports enterprise development and job wealth creation.

FCMB partners Alitheia Capital for 2026 W.O.M.A.N. Conference


Two-day event will connect women-led businesses with finance, knowledge and markets


First City Monument Bank (FCMB) has partnered with Alitheia Capital for the 2026 W.O.M.A.N. Conference, which will take place in Lagos on September 10 and 11.
Convened by Alitheia Capital, the conference will bring together about 300 women-led micro, small and medium-sized enterprises operating in manufacturing, agribusiness, nutrition and related sectors. It will connect the entrepreneurs with financial institutions, investors, policymakers, development organisations and business leaders.

FCMB is supporting the conference as its exclusive banking partner through SheVentures, the Bank’s proposition for women-owned businesses.

The two-day event will feature expert discussions, practical learning sessions, and opportunities for participants to explore financing, investment, and market access. It will also address governance, financial management, climate resilience, green manufacturing, and energy transition.

Nnenna Jacob-Ogogo, Group Head of Gender and Impact Sectors at FCMB, will speak at the conference alongside Oluremi Agboola, Head of SME Asset Products at FCMB. They will provide practical guidance on preparing businesses for finance and selecting funding options suited to different stages of growth.

Jacob-Ogogo said: “Women are building businesses that create jobs, strengthen communities and contribute to Nigeria’s productive economy. Through this partnership, we want to help more women develop the structures, knowledge and connections they need to move from running viable enterprises to building businesses that can scale.”

Agboola said the conference would help narrow the gap between entrepreneurs seeking finance and financial institutions looking for viable businesses to support.

“Access to finance begins with readiness. Businesses with reliable records, sound financial management, and clear growth plans are better positioned to secure funding. We will help participants understand these requirements and explore financing options that match their needs,” Agboola said.

Beyond the conference, the 2026 W.O.M.A.N. programme will include cohort sessions across Nigeria’s six geopolitical zones, structured investment-readiness and access-to-finance pathways, and digital capacity building through Alitheia Capital’s Nzinga learning platform.

The programme is designed to develop a pipeline of women-led enterprises ready for debt, equity and blended-finance solutions. It supports Nigeria’s priorities for industrialisation, MSME growth, job creation, energy transition and women’s economic participation.

Managing Partner of Alitheia Capital, Tokunboh Ishmael, said the programme was designed to tackle the structural barriers preventing women entrepreneurs from converting existing business potential into sustainable growth.

“The gathering brings an ecosystem closer together to deliver systemic strategies that overcome challenges women face in labour markets and economic empowerment,” Ishmael said.

She added that the participating businesses already had revenues, customers and growth ambitions, stressing that access remained the major constraint.
“The constraint is not ambition — it is access. W.O.M.A.N. 2026 is built to close that gap directly,” she said.

The programme is being delivered in collaboration with the Bank of Industry (BOI), the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the Manufacturers Association of Nigeria (MAN), alongside other private-sector and development partners.

FCMB Honoured by ISACA for Advancing Digital Trust


First City Monument Bank (FCMB) has been honoured by the Lagos Chapter of the Information Systems Audit and Control Association (ISACA) for its contributions to technology governance, cybersecurity, risk management, audit, assurance, and digital trust in Nigeria.

The honour reflects FCMB’s partnership with ISACA to promote knowledge sharing, professional development, and stronger standards across Nigeria’s technology sector.

Yemisi Edun, Managing Director and Chief Executive Officer of FCMB, accepted a commemorative plaque recognising the Bank’s contributions to digital trust and professional development at the chapter’s 30th anniversary celebration in Lagos on August 21.

“We value our partnership with ISACA,” Edun said. “This honour reflects our shared commitment to strengthening the professional capabilities and standards that underpin digital trust. As financial services become more technology-driven, sound governance, cybersecurity, risk management, and assurance will remain essential to institutional resilience, customer protection, and sustainable economic growth.”

Edun expressed confidence that ISACA would continue to develop professionals with the expertise and leadership required to respond to emerging risks and opportunities.

ISACA Global CEO Erik Prusch highlighted the experience and resilience of Nigeria’s information technology and cybersecurity professionals. He said organisations need trained, capable employees to support growth, respond to change, and take advantage of emerging technologies.

Justus Osuji, President of the ISACA Lagos Chapter, said the anniversary provided an opportunity to reflect on three decades of professional service, leadership, and knowledge development. He also highlighted the chapter’s contributions to information systems auditing, cybersecurity, governance, risk, compliance, and emerging technology in Nigeria and beyond.

FCMB continues to invest in digital capabilities, technology infrastructure, cybersecurity, and risk management as part of its strategy to provide secure and convenient financial services to individuals, businesses, and institutions.

Founded in 1969, ISACA is a global professional association focused on information technology governance, cybersecurity, risk management, and information systems auditing. It has members in 188 countries and more than 225 chapters worldwide.

FCMB Supports Peak Performer Leadership Summit for 1,000 Young Nigerians



First City Monument Bank (FCMB) supported and participated in The Peak Performer Emerging Leaders’ Summit 2026, which brought together 1,000 National Youth Service Corps members for practical sessions on employment, entrepreneurship, financial management and leadership.

Convened by Dr Abiola Salami and organised by The Peak Performer Africa, the summit was held on August 19 at Solution Arena in Lagos.

Themed “I Move with G.R.I.T. – From Potential to Performance,” the programme delivered its main training session at the summit. It focused on the workplace competence, financial discipline, adaptability, and execution skills young graduates need to turn academic potential into career progress.

Participants explored five pathways: Get Hired, Get Digital, Get Financially Strong, Build Something and Create Impact. The sessions covered workplace expectations, artificial intelligence and digital skills, personal finance, entrepreneurship, responsible leadership, and community problem-solving.

Dr Abiola Salami, Founder of The Peak Performer Africa and Convener of the summit, said the programme was designed to help young people convert potential into measurable performance.

“Potential is a starting point, not an outcome. Young people need the mindset, capability, and discipline to take deliberate action and produce evidence of progress. The real measure of this summit will be what participants execute after leaving the venue,” he said.

As part of FCMB’s participation, Olajire Awofisibe, Group Head of Retail Asset Products, joined other professionals and business leaders in a conversation about what young people need to enter the workplace, distinguish themselves and advance their careers.

He also served as a faculty member in the Get Financially Strong laboratory, where participants examined budgeting, saving, responsible borrowing, credit and the financial decisions that often come with earning a first salary.

Awofisibe said: “The transition from national service to employment or entrepreneurship comes with important financial decisions. Income alone does not create financial security. What matters is how consistently people budget, save, use credit and plan for the future.

“Responsible borrowing can help people pursue useful goals, but credit becomes a burden when it finances consumption without a clear repayment plan. Developing sound money habits from the first income provides a stronger foundation for the future.”

The summit combined panel discussions, practical learning sessions, music, comedy, and audience activities. Nigerian Idol winner Victory Gbakara and first runner-up Precious Mac also shared lessons on the preparation, discipline and courage required to move from talent to performance.

Following the summit, participants began a 30-Day MOVE Challenge to apply what they had learned. Working in groups, they developed projects across the five pathways, identified beneficiaries and milestones, and presented their plans for review. Each participant also committed to completing and documenting a specific action within 30 days.

FCMB supported the programme as part of its efforts to help young Nigerians develop financial knowledge and workplace skills.

The 2026 summit followed the 2025 edition, which attracted more than 500 corps members.

About FCMB

FCMB provides personal, business, and corporate banking services across Nigeria. Its financial solutions empower individuals and businesses to pursue their goals with confidence. In this way, FCMB brings “My Bank & I” to life while fostering inclusive and sustainable growth in the communities it serves.

FCMB-backed Agritech Startups Target Expansion into East Africa


Nigerian agritech startups supported by First City Monument Bank are preparing to expand into other African markets as part of a broader push to scale homegrown agricultural technology solutions across the continent.

FCMB noted in its AgriTech Alumni Impact Report that ventures such as AgroCist and Crop2Cash have demonstrated the potential to scale their solutions beyond Nigeria into other African markets.

The report traces the evolution of the bank’s agritech programme from its 2018 launch to what it described as an “Impact Era” focused on commercially viable, investment-ready agricultural businesses.

Crop2Cash emerged as the inaugural winner of the programme with a USSD-based platform designed to improve access to financial tools for unbanked farmers. Since then, the initiative has expanded through collaborations with innovation hubs, development finance institutions and startup enablers.

FCMB stated that its approach increasingly considers opportunities beyond traditional lending, including the use of weather data, soil information and other digital tools to support better decision-making, manage risk and enhance agricultural productivity.

The bank also highlighted increasing interest in climate-conscious agriculture, regenerative farming practices and ecosystem partnerships designed to improve food security and rural livelihoods. Development partners supporting the programme include FMO, the Mastercard Foundation and UNDP.

The report added that the bank intends to continue investing in user-centred agricultural innovation that can scale beyond Nigeria.

FCMB Deepens Agritech with AI Advisory in Local Languages



First City Monument Bank has unveiled plans to deepen its agritech strategy by deploying AI-powered advisory services in major Nigerian languages, as part of efforts to improve access to finance and support for smallholder farmers.

According to the Bank’s Agritech Alumni Impact Report covering 2018 to 2026, the Bank will continue to support the growth and scale-up of innovative AgTech companies developing solutions across the agricultural value chain, including AI-powered platforms that provide farmers with real-time advisory and support in local languages such as Hausa, Yoruba and Igbo.

The initiative comes amid growing concerns over food security, agricultural productivity and the continued exclusion of farmers from formal financial systems across Africa.

FCMB noted that although agriculture contributes about 24 per cent of Nigeria’s GDP, only six per cent of farmers in Africa currently have access to formal credit. The Bank said this long-standing financing gap continues to inform the development of broader, more inclusive lending models that leverage relevant AgTech solutions, including weather data, soil intelligence, and USSD-enabled technology platforms.

The report stated that the bank’s agritech programme has evolved from a startup-focused competition into a broader ecosystem connecting innovators, investors and development partners.

Planned next steps include climate-resilient agricultural financing, bundled insurance and animal healthcare solutions, and expanding Nigerian agritech startups into other African markets such as Uganda, Ghana, Côte d’Ivoire, Ethiopia and Kenya.
FCMB said the strategy reflects a shift from traditional lending toward building “a de-risked, data-driven, and sovereign future for food and agriculture in Africa.”

Over the years, FCMB’s AgTech initiatives have benefited from collaborations with development partners, including FMO and the United Nations Development Programme, while the Bank has also worked with the Mastercard Foundation on broader agricultural and youth-focused interventions.

POLITICSFadahunsi Apologises for Palace Remarks, Denies Violence Call, Commends Owa Haastrup’s Leadership




Senator Adenigba Fadahunsi, OFR, has apologised for the tension caused by remarks he made during his campaign visit to the palace of the Paramount Ruler of Ijesaland, Owa Clement Adesuyi Haastrup, Ajimoko III.
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‎Fadahunsi, while speaking after the conclusion of the Osun State governorship election, said his visit to the palace was mainly to seek justice and express his pain over the killing of some members of his political party.
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‎He said it was painful that his emotional appeal was later presented by his critics as a call for violence.
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‎The senator maintained that he never called for chaos or violence, describing the criticism against him as unfair.
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‎According to him, his words were made at a difficult moment when he was deeply affected by the deaths of party members.
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‎Fadahunsi also expressed special appreciation to the Owa of Ijesaland, Owa Clement Adesuyi Haastrup, for the way he handled the situation.
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‎He praised the monarch for showing wisdom and remaining calm despite claims by some people that his remarks were disrespectful to the traditional institution.
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‎The senator said the Owa demonstrated the qualities of a true father to all people, regardless of their political party.
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‎He said the monarch’s calm and balanced response helped to prevent the situation from becoming worse.
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‎Fadahunsi said leaders must learn to place the interest of the people above personal feelings and political differences.
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‎He added that the peace of Osun State and Ijesaland is more important than any political victory, defeat or disagreement.
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‎“Because the peace of Osun State and Ijesaland in particular is far more important than any political dispute, victory, or defeat, I sincerely apologise for the tension that resulted from this misunderstanding,” the senator said.
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‎He also called on his supporters and other residents of the state to embrace peace and work towards healing after the election.
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‎Fadahunsi urged the people to respect the role of traditional institutions in promoting peace and unity in Ijesaland.
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‎He, however, said his call for justice over the deaths of his party members remained unchanged.
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‎The senator called on the Osun State Government and security agencies to properly investigate the killings and ensure that justice is achieved through lawful and peaceful means.
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‎He urged all sides to put political differences aside and work together for peace and unity in the state.
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‎Fadahunsi said he would continue to seek justice for the victims while encouraging supporters and citizens to avoid actions that could create further tension.
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‎The statement was signed by Senator Adenigba Fadahunsi, OFR.

FCMB Raises FastCash Instant Loan Limit to ₦500,000


First City Monument Bank (FCMB) has increased the limit on its FastCash instant loan to ₦500,000, giving eligible customers greater access to funds for unexpected expenses and other short-term financial needs.

Available 24/7 through the FCMB Mobile App and by dialling 32911#, FastCash provides eligible customers with quick access to credit without collateral, paperwork or a guarantor. Customers can apply digitally without visiting a branch.

Eligibility is based on customers' transaction activity. Customers must have maintained an FCMB account for at least three months to be considered, while eligible returning customers can access repayment periods of up to 90 days.

Tunji Lamidi, Divisional Head, Personal Banking, FCMB, said the increased limit responds to customers' need for convenient access to short-term financing.

“Financial needs can arise without warning, and customers increasingly expect their bank to respond just as quickly. By increasing the FastCash limit to ₦500,000, we are giving eligible customers more room to meet short-term needs through channels they already use, without paperwork or a branch visit.”

Customers who have not fully utilised their maximum eligible loan amount can also apply for a FastCash top-up, subject to eligibility.

The FastCash upgrade forms part of FCMB's drive to make everyday banking and credit easier to access digitally, giving customers greater flexibility to manage their finances through the FCMB Mobile App and USSD banking platform.

FCMB commits ₦20bn to finance Nigeria’s healthcare businesses



To bridge a critical funding gap, First City Monument Bank (FCMB) has committed ₦20 billion to finance private healthcare businesses in Nigeria, targeting a critical sector in need of affordable, long-term capital.

The 20 billion Healthcare Fund, announced at FCMB’s inaugural healthcare summit in Lagos, will target businesses including hospitals and clinics, diagnostic centres, pharmaceutical companies, pharmacies, maternity homes and other healthcare enterprises.

The financing will support expansion, medical equipment purchases, infrastructure, working capital and technology investments, according to FCMB.

The initiative comes as Nigeria seeks to expand healthcare capacity and boost local production of medicines and medical devices. The government is targeting local production of 70% of medicines and medical devices by 2030 under its Presidential Initiative for Unlocking the Healthcare Value Chain.

“Healthcare is a social imperative and an economic priority,” FCMB Managing Director and Chief Executive Officer, Yemisi Edun, said in remarks delivered by Executive Director, Corporate Services and Service Management, Felicia Obozuwa at the summit. “Building a strong healthcare system requires capital that is patient, affordable and long-term.”

The bank said the fund will form part of a broader healthcare financing offering that combines lending with advisory support and partnerships intended to help businesses strengthen operations and attract capital.

Access to finance remains a major constraint for private healthcare operators, according to Njide Ndili, president of the Healthcare Federation of Nigeria.

Ndili cited experience from HFN’s partnership with the PharmAccess Medical Credit Fund, which she said showed that small and medium-sized healthcare businesses can achieve strong repayment performance when financing is combined with technical support, capacity building, and quality standards.

HFN will work with FCMB to develop a framework for pre-qualifying healthcare facilities and helping businesses become investment-ready, according to information presented at the summit. The federation has more than 400 member organisations and 4,000 professionals.

The initiative also addresses a broader challenge for lenders: ensuring that healthcare businesses have the governance, financial reporting, management capacity and growth plans needed to deploy capital effectively.

Nigeria’s government has increased public funding for healthcare in recent years. More than ₦339 billion has been disbursed through the Basic Healthcare Provision Fund over the past 12 years, including ₦235 billion in the last three years under the Health Sector Renewal Investment Initiative, Minister of State for Health and Social Welfare Iziaq Salako said at the summit.

A further ₦32.9 billion has recently been disbursed to support more than 8,300 primary healthcare centres, with plans to expand coverage to about 13,000 facilities nationwide, Salako said.

He called for greater mobilisation of private and public capital and urged healthcare operators to strengthen corporate governance, improve financial reporting and use blended-finance structures to fund growth.

The summit also examined investment opportunities in primary healthcare, diagnostics, local pharmaceutical manufacturing, medical equipment, digital health and healthcare infrastructure.

FCMB said its healthcare financing proposition is designed to support businesses across the value chain as they expand capacity and improve service delivery.

H1 2026: FCMB Group Sustains Performance, Reports 99% Growth in Profit Before Tax to ₦157.3 Billion



FCMB Group Plc (NGX: FCMB) has announced its unaudited financial results for the half-year ended June 30, 2026, reporting a 99% year-on-year increase in profit before tax to ₦157.3 billion from ₦79.1 billion in the corresponding period of 2025, extending the strong earnings momentum recorded in the 2025 financial year.

Highlights of the six-month results released on the Nigerian Exchange Limited (NGX) showed year-on-year profit before tax growth across all four divisions of the Group: Consumer Finance (92%), Banking Group (80%), Investment Banking (76%), and Investment Management (50%).

Gross earnings grew by 27.8% to ₦676.2 billion for the first half of 2026, from ₦529.2 billion in the first half of 2025, driven by a 31.0% growth in interest income and a 22% growth in earning assets, from ₦4.90 trillion to ₦5.98 trillion. Annualised Earnings Per Share (EPS) increased to ₦4.23 in the first half of 2026 from ₦3.96 for the full year 2025, despite a larger post-recapitalisation share base, demonstrating the Group’s enhanced earnings-generating capacity.

Commenting on the results, Ladi Balogun, Group Chief Executive of FCMB Group, said:
“Our first-half performance demonstrates the strength of our recapitalised and diversified business model. We delivered record profitability despite accelerating the normalisation of asset quality towards regulatory thresholds, reflecting our commitment to building a stronger balance sheet for long-term growth. Expanding net interest margins, an improved low-cost deposit mix, disciplined cost management, and growing contributions from our non-banking businesses continue to enhance the quality and sustainability of our earnings. We remain firmly on track to deliver a Return on Equity (RoE) of over 25% for the 2026 financial year.”

The Group’s digital business — comprising Payments, Lending and Wealth — sustained its growth trajectory, with digital revenue rising to ₦89.1 billion for the first half of 2026 from ₦73.6 billion in the first half of 2025, contributing 13.2% of gross earnings, as volumes continued to grow across lending, payments, and wealth.

Total assets increased by 9.5% to ₦8.36 trillion at June 2026, as the Group continued to prioritise balance-sheet efficiency and optimisation. Loans and advances to customers grew by 5.2% to ₦2.49 trillion, supported by continued growth in higher-return retail, SME and consumer lending, and foreign currency loans to corporate clients.

Customer deposits grew by 11.4% to ₦4.92 trillion at June 2026, while the low-cost deposit mix improved further to 74.9%, leading to a decline in cost of funds year-on-year, with interest expense declining by 2.7% year-on-year.

Total equity grew by 40.3% to ₦1.17 trillion, supported by growth in retained earnings and approximately ₦227 billion additional capital injection during the second quarter of 2026, leading to a Capital Adequacy Ratio of 23.5% for the first half of 2026 and providing a sound capital buffer for growth.

FCMB Group’s Assets Under Management grew by 14.3% to ₦1.95 trillion at June 2026, supported by continued market-share gains at FCMB Pensions and FCMB Asset Management.

The Group’s non-banking businesses collectively contributed 26% of Group profit before tax, with profits increasing by 185% year-on-year to ₦40.7 billion, reinforcing the diversification of the Group’s earnings beyond banking.

FCMB Group Plc is a financial services group, headquartered in Lagos, Nigeria, with operating companies divided along four business groups – The Banking Group (First City Monument Bank Limited (‘The Bank’), FCMB (UK) Limited and FCMB Microfinance Bank Limited); Consumer Finance (Credit Direct Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited) and Investment Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited). Listed on the Nigerian Stock Exchange (NSE) with the ticker symbol (FCMB), FCMB Group Plc has 65,954,593,274 ordinary shares held by over 620,000 shareholders.

First City Monument Bank Limited, the flagship company, has about 15 million customers and 205 branches in Nigeria and a banking subsidiary in the United Kingdom through FCMB Bank (UK) Limited (which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom).

FCMB Healthcare Summit to Put Capital, Growth at Heart of Sector's Future



First City Monument Bank (FCMB) will on July 28, 2026, convene healthcare operators, financiers, investors, policymakers, development partners and industry experts at the inaugural FCMB Healthcare Summit to explore financing and partnership opportunities for building a stronger and more sustainable healthcare sector in Nigeria.

The summit, themed "Financing Growth: Unlocking Opportunity, Building the Future of Healthcare," reflects FCMB's commitment to supporting strategic sectors of the Nigerian economy through innovative financing, partnerships and capacity building that promote inclusive and sustainable growth.

The Honourable Minister of State for Health, Dr Iziaq Salako, will deliver the keynote address, "The Future of Healthcare Financing in Nigeria," setting the tone for discussions focused on the financing and delivery priorities shaping the sector.

The summit will feature keynote presentations, executive conversations and panel discussions examining the future of healthcare financing and delivery in Nigeria. Discussions will focus on access to capital, investment readiness, partnerships, governance, and the opportunities to build healthcare businesses that can grow sustainably.

Speaking ahead of the summit, MD/CEO of First City Monument Bank, Yemisi Edun, said healthcare is critical to Nigeria's economic development and that sustainable healthcare delivery requires collaboration across the public and private sectors.

"A resilient healthcare system is fundamental to the wellbeing and productivity of every nation. At FCMB, we recognise that sustainable healthcare delivery requires more than clinical excellence. It also depends on access to appropriate financing, sound business management, strategic partnerships and long-term investment. The FCMB Healthcare Summit will bring key stakeholders together to exchange ideas, strengthen partnerships and identify practical approaches that can help healthcare businesses grow sustainably and improve healthcare outcomes for Nigerians."

Edun added that FCMB is committed to providing financial solutions that support healthcare providers as they expand infrastructure, acquire modern equipment, strengthen working capital and improve operational efficiency.
Nigeria's healthcare sector continues to face challenges, including infrastructure gaps, rising operating costs, foreign exchange pressures, workforce constraints and the need for stronger governance, investment readiness and access to capital. Addressing these issues will require sustained collaboration among healthcare providers, financial institutions, government, investors and development partners.

The FCMB Healthcare Summit is designed to support that collaboration by creating a platform for stakeholders to exchange insights, explore emerging opportunities and identify practical pathways for strengthening the sector.

FCMB will also showcase its healthcare-focused financial solutions in a dedicated "Financing Healthcare Growth" session, highlighting financing options that can support infrastructure expansion, equipment acquisition, working capital, digital transformation and long-term business growth.

Mrs Njide Ndili, President of the Healthcare Federation of Nigeria, will deliver an industry address titled "Building a Stronger Private Healthcare Sector: Leadership, Collaboration and Sustainable Financing for the Future."

The summit will also feature panel discussions on "Unlocking Capital, Partnerships and Sustainable Growth in Nigeria's Healthcare Sector" and "From Survival to Scale: Building Bankable Healthcare Businesses in Nigeria." An executive conversation, "Building Healthcare Businesses That Attract Capital," will explore leadership, governance, investment readiness and sustainable growth.

By convening leaders from healthcare, finance, government and development institutions, the FCMB Healthcare Summit seeks to move the conversation beyond identifying challenges towards exploring practical financing and partnership opportunities that can support the sustainable growth of Nigeria's healthcare sector.

Health Business Academy for Africa (HBA) is the technical partner for the summit, providing industry expertise and strategic support. HBA is a leading executive education and strategic advisory platform dedicated to strengthening the leadership, business and institutional capacity required to build sustainable, high-performing healthcare organisations across Africa

FCMB Introduces Book Now, Fly Later, Offering Up to ₦10m for Air Travel



First City Monument Bank (FCMB) and 247 Travels have launched Book Now, Fly Later, a financing programme that allows eligible customers to borrow up to ₦10 million for international flight tickets and repay over three to nine months.

The programme is designed to help Nigerians spread travel costs for business, education, healthcare, tourism, and family commitments.

The facility, powered by FCMB Premium Banking, is available exclusively for airline tickets purchased through 247 Travels.

Salaried and self-employed FCMB customers who meet the bank’s requirements can apply, with successful applicants expected to receive approval and disbursement within 24 working hours.

The partnership combines FCMB’s lending capabilities with 247 Travels’ booking services to offer customers a flexible payment option as demand for instalment-based financing grows globally.

“At FCMB, we believe banking should empower people to pursue their goals without unnecessary financial strain,” FCMB Managing Director Yemisi Edun said.

“Our Book Now, Fly Later solution makes travel more accessible and affordable while giving customers flexibility to manage their finances responsibly,” Edun stated.

She said the initiative aligns with the bank’s broader strategy of promoting inclusive growth through innovation and partnerships.

“We will continue to develop products and partnerships that simplify financial decisions and create value for our customers,” Edun added.

Tunji Adeyemi, Managing Director of 247 Travels, said the programme addresses a key challenge for travellers by reducing the burden of paying the full cost of tickets upfront.

“Travellers increasingly want flexibility and convenience,” Adeyemi said. “Our partnership with FCMB enables customers to secure flights and spread payments over time.”

Opeyemi Makinwa, FCMB’s Group Head of Premium Banking, said the product reflects the bank’s focus on lifestyle offerings through strategic partnerships.

“Customers expect financial services that fit naturally into their lives,” Makinwa said. “Book Now, Fly Later provides greater flexibility and financial control.”

Customers can apply through FCMB’s Book Now, Fly Later platform or the 247 Travels website by selecting a preferred flight and completing a financing request. Once approved, the loan is disbursed, and the ticket is issued through 247 Travels.

The launch extends the “Book now, Fly later” model to international air travel, offering Nigerians another way to finance trips for personal and professional purposes.

FCMB Group Shareholders Approve ₦23.08 billion Dividend


Shareholders of FCMB Group Plc on June 30, 2026, approved a total dividend payout of ₦23.08 billion for the 2025 financial year at the company's 13th Annual General Meeting (AGM) held in Lagos.

Shareholders, attending both in person and online, approved all Board resolutions, including the re-election of Mr. Ladi Jadesimi and the ratification of Mrs. Adepeju Adebajo as Directors. They also elected Audit Committee members and authorised Directors to set the auditors’ remuneration.

The AGM followed a year of strong earnings growth across the group’s businesses, despite challenging economic conditions. FCMB Group reported profit before tax of ₦202.1 billion for the year ended Dec. 31, 2025, up 81% from ₦111.9 billion a year earlier. Profit after tax rose 142% to ₦177.3 billion, while gross revenue increased 42.5% to ₦1.13 trillion. Return on equity rose to 23.2%.

The Group reported double-digit profit growth across all divisions. The Banking Group’s profit before tax rose 110%, while Consumer Finance, Investment Banking, and Investment Management grew by 107%, 90%, and 29%, respectively. This momentum continued into 2026, with all segments achieving strong first-quarter growth.

Chairman Mr. Ladi Jadesimi stated that these results demonstrate the resilience of the group’s diversified business model.

"We remain steadfast in our objective of balancing immediate shareholder returns with the need to retain sufficient capital to support long-term expansion, strengthen our competitive positioning and optimise value creation for all stakeholders," Jadesimi said.

Group Chief Executive Mr. Ladi Balogun described 2025 as a transformative year, highlighting the strength of collaboration across its businesses.

‘’2025 was a transformative year for FCMB Group – one in which we witnessed the true impact of ‘The Power of the Group’. A core driver of our performance in 2025 was the effective synergy across our business groups: Banking Group, Consumer Finance, Investment Banking, and Investment Management, each playing a distinct yet complementary role in delivering business growth,” Balogun said. “Our focus remains firmly on deepening our digital transformation, strengthening our culture of excellence, and amplifying the collective power of our ecosystem.”

Balogun noted that completing the Group’s recapitalisation programme has positioned the organisation for its next phase of long-term growth.

Shareholder representatives commended the Board and management for the company’s performance and dividend payout.

Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, stated that the dividend reflects management’s commitment to shareholder value despite economic challenges.

Mr. Boniface Okezie, National Chairman of the Progressive Shareholders Association of Nigeria, praised the group’s support for small businesses and women-owned enterprises. He noted that FCMB provided ₦537.5 billion in financing to SMEs in 2025, including ₦51 billion to women-owned businesses.

Shareholder Mr. Eric Akinduro highlighted improved asset quality, noting the group’s non-performing loan ratio declined to 5% from 5.95%.

FCMB reported an 8.2% increase in total assets to ₦7.63 trillion. Consumer and SME lending rose 24% to ₦930 billion, while assets under management grew 24.2% to ₦1.70 trillion, reinforcing the Group’s diversified earnings base and long-term growth strategy.

The approved dividend was paid on July 30, 2026, to shareholders whose names appeared in the register of members as of the close of business on June 15, 2026.

FCMB Asset Management Limited Upgraded to A(NG)/A1(NG) by GCR Ratings, Affirming Stable Outlook



The upgrade reflects the asset manager’s consistent earnings growth, disciplined liquidity, and market leadership.



FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has received an upgrade to its national scale long-term and short-term issuer ratings of A(NG) and A1(NG), from A-(NG) and A2(NG), by GCR Ratings (GCR), a leading pan-African credit rating agency. The outlook on the ratings remains stable.

The upgrade is anchored on FCMBAM’s competitive resilience and financial discipline, alongside the strengthened credit profile of FCMB Group Plc. GCR highlighted FCMBAM’s decade-long track record of strong performance, well-established brand franchise, diversified product suite, and robust distribution network as key drivers of its standalone strength. These are further supported by consistent earnings growth and a disciplined, unleveraged balance sheet.

According to GCR, FCMBAM's competitive position is supported by “its relatively long track record, strong brand franchise, established product and geographical distribution network, and cross-selling opportunities,” with the rating agency noting that FCMBAM ranks among the top five asset managers in Nigeria, with an estimated 5% share of a fragmented market, as at 31 December, 2025.

The Company’s financial performance underpinned the upgrade, with revenue growing by 30% and operating cash flow increasing by 13%, enabling the business to be fully funded without recourse to debt. Liquidity strengthened further, with liquidity sources-vs-uses improving to 5.0x as of December 2025, from 3.6x a year earlier, while the EBITDA margin edged up to over 58%.

Commenting on the upgrade, the Chief Executive Officer of FCMB Asset Management Limited, Mr James Ilori, said: “This upgrade is an important external validation of a strategy we have pursued with discipline over many years: building an investment franchise that performs reliably, governs itself rigorously, and earns trust in every market cycle. It speaks to the strength of our membership of FCMB Group Plc and to a culture that holds itself to local and global standards of risk management and capital stewardship. As Nigeria’s asset management industry enters a new era of higher capital thresholds and rising investor expectations, we intend to lead from the front — ahead of regulatory timelines, ahead in digital transformation, and ahead in the outcomes we deliver for the clients who trust us to assist them in achieving their investment objectives.”

FCMBAM remains committed to delivering globally aligned investment solutions that support capital preservation, income generation, and long-term capital growth, underpinned by rigorous risk management and governance standards.

FCMB Asset Management Limited manages a suite of Collective Investment Schemes, including the FCMBAM Money Market Fund, FCMBAM Debt Fund, FCMBAM Equity Fund, FCMBAM USD Bond Fund and FCMB-TLG Private Debt Fund, alongside discretionary and non-discretionary portfolio management mandates tailored to high-net-worth and institutional clients.

Established in 1997, FCMB Asset Management Limited is registered and regulated by the Securities and Exchange Commission, Nigeria. It provides portfolio management and investment advisory services to individual and institutional clients and is a member of FCMB Group Plc.

FCMB Turns Everyday Banking into Rewards with New Mobile App Upgrade



First City Monument Bank (FCMB) has introduced a set of new features on its mobile app, led by a reward points system that turns everyday transactions into tangible benefits for customers.

With this update, FCMB shifts the focus from routine banking to value creation, giving customers a stronger reason to engage, transact, and stay within its digital ecosystem.

At the centre of the upgrade is the Reward Points feature, which allows customers to earn and redeem points on transactions made in the app. The more customers use the platform, the more value they unlock, creating a direct link between daily banking activity and real-life rewards.

Beyond the rewards, the enhanced app introduces a Regal Premium Lifestyle Subscription that offers users access to curated lifestyle benefits across travel, dining, and entertainment, plus a three-month free transfer for new-to-bank customers.

Customers can now access mutual fund investments directly within the app, helping them grow wealth without multiple platforms. This feature reinforces FCMB’s commitment to empowering customers with accessible financial tools.

To improve customer experience, the app now includes “Chat with Temi”, an intelligent in-app support feature that delivers instant assistance and quicker issue resolution.

Speaking on the update, Oladipo Alabede, Divisional Head, Payments and Solutions, said: “At FCMB, we are constantly innovating to meet the evolving needs of our customers. These features are designed to provide convenience, reward loyalty, and empower our customers to do more with their finances, right from their mobile devices.”

In line with its financial inclusion drive, FCMB has simplified account upgrades from Tier 1 to Tier 2, allowing customers to access enhanced banking services without visiting a branch.

Additionally, the introduction of instant virtual card request and activation ensures customers can immediately create and use secure digital cards for online transactions.

The Divisional Head, Personal Banking, Adetunji Lamidi, emphasised the Bank’s digital transformation journey: “These upgrades reflect our technology-driven strategy to build a smarter, more intuitive banking platform. By integrating intelligent support systems like Temi and enabling instant services such as virtual card activation, we are redefining convenience and accessibility in banking.”

This comprehensive upgrade reflects FCMB’s ongoing commitment to innovation, customer focus, and digital excellence, positioning the mobile app as a one-stop platform for seamless, rewarding, and future-ready banking.

Customers are encouraged to update or download the FCMB Mobile App today from their app store to use these new features and take full control of their financial journey.

Stronger Creative Ecosystems Are Key to Sustainable Growth – FCMB


Leading stakeholders from Nigeria’s creative industry, financial institutions, government agencies, development partners, and private sector organisations convened at the 2026 Business Day Creative Entertainment Summit held at the Oriental Hotel, Lagos, to examine the structural reforms required to unlock the sector’s long-term growth and economic potential.

The summit provided a platform for robust discussions on the opportunities and challenges shaping Nigeria’s creative economy, with participants exploring pathways for building a more sustainable, globally competitive, and investment-ready industry.

Speaking during a panel session, Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments, First City Monument Bank (FCMB), noted that while Nigerian creatives continue to achieve remarkable success on the global stage, the industry’s future growth will depend on the strength of the ecosystem supporting creative talent and enterprises.

According to her, Nigeria’s creative industry has demonstrated extraordinary resilience and innovation, producing globally recognised artists, creators, and businesses despite operating within an environment characterised by significant structural constraints.

“The success stories we celebrate today are proof of the immense talent, creativity, and entrepreneurial spirit that exists within Nigeria’s creative industry. However, for sustainable growth to occur, we must move beyond individual success stories and focus on strengthening the system that enables creative enterprises to scale, compete, and create lasting economic value”, she said.

“Financing is important, but capital alone cannot solve the industry’s challenges. We must also address issues around intellectual property protection, efficient royalty collection mechanisms, business formalisation, governance standards, data transparency, distribution networks, industry infrastructure, and capacity building. These are the foundations that attract investment and support sustainable growth”.

She further noted that stronger institutional frameworks would not only improve investor confidence but also enable creative entrepreneurs to build scalable businesses capable of creating jobs, generating export earnings, and contributing meaningfully to national economic development.

At FCMB, we are intentional about supporting sectors that create opportunities and drive economic development. We understand that sustainable progress in the creative industry requires collaboration, knowledge sharing, capacity development, and strategic partnerships that strengthen the broader ecosystem. Our role is to support initiatives and platforms that help creative entrepreneurs build stronger and more sustainable businesses.

She added that through initiatives such as SheVentures and other entrepreneurship-focused interventions, FCMB continues to support entrepreneurs across various sectors by providing access to training, mentorship, business advisory services, networking opportunities, and, where appropriate, financing solutions.

As a supporter of entrepreneurship and inclusive economic growth, FCMB remains committed to collaborating with stakeholders across sectors to support initiatives that strengthen Nigeria’s creative economy and enable more entrepreneurs to thrive in an increasingly competitive global marketplace.

FCMB Group Reports ₦202.1 Billion Profit Before Tax for 2025, ₦87.0 Billion in Q1 2026

FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the year ended Dec. 31, 2025, and its unaudited results for the first quarter ended March 31, 2026.

For the 2025 financial year, the Group's profit before tax rose 81% year-on-year to ₦202.1 billion from ₦111.9 billion in 2024, while profit after tax increased 142% to ₦177.3 billion, leading to Return on equity improving to 23.2%.

The strong earnings momentum continued into the first quarter of 2026, with profit before tax and profit after tax increasing by 148% and 137%, respectively, to ₦87.0 billion and ₦76.5 billion.

All business divisions recorded double-digit growth and contributed positively to profitability during the period. In 2025, the banking subsidiary grew profit before tax by 110% to ₦163.3 billion, while the consumer finance, investment management and investment banking businesses recorded profit growth of 107%, 29% and 90%, respectively. In the first quarter of 2026, profit growth across the divisions was 97% for banking, 99% for consumer finance, 54% for investment management, and 322% for investment banking.

The banking subsidiary, First City Monument Bank Ltd., benefited from the deployment of proceeds from its 2024 capital raise and higher yields on earning assets, resulting in growth in net interest income and return on equity.

Gross revenue grew 42.5% to ₦1.13 trillion in 2025, largely driven by a 61.7% growth in interest income and a 17.3% growth in earning assets, which grew from ₦4.18 trillion to ₦4.90 trillion. The same drivers supported a strong start to 2026, with gross revenue growing by 26.7% to ₦320.2 billion in the first quarter, compared with ₦252.7 billion in the corresponding period of 2025.

Customer confidence in FCMB remained strong. Current and savings account balances grew 17% by ₦420.5 billion during 2025 and a further 15% by ₦433.5 billion in the first quarter of 2026. Total customer deposits increased by 2.8% in 2025 and 5.8% in the first quarter of 2026, as low-cost deposit mix improved from 65.4% to 71.1%.

Net interest income grew by 124.5% to ₦505.9 billion in 2025 from ₦225.3 billion in 2024, driven by a growth in net interest margin to 9.5% from 6.3%. This momentum continued into 2026, with net interest margin growing further to 10.7% in the first quarter.

Alongside stronger revenue generation, the Group improved operating efficiency. Its cost-to-income ratio declined to 53.8% by the end of 2025 from 59.9% . These gains were supported by continued investments in people, technology and business expansion.

Total assets increased 8.2% to ₦7.63 trillion at the end of 2025 from ₦7.05 trillion a year earlier and grew a further 4.4% to ₦7.96 trillion as of March 31, 2026, reflecting the Group's focus on balance sheet efficiency and optimisation.

The Group also maintained a disciplined approach to lending while expanding support for consumers and small businesses. Loans and advances to customers increased 0.4% to ₦2.37 trillion in 2025, while consumer and SME lending rose 24% to ₦930 billion. Total loans and advances stood at ₦2.23 trillion at the end of the first quarter of 2026.

Assets under management maintained a strong growth trajectory, growing 24.2% to ₦1.70 trillion at the end of 2025 from ₦1.37 trillion in 2024. This further grew by 10.1% to ₦1.88 trillion as of March 2026, supported by continued market share gains by FCMB Pensions and FCMB Asset Management.

The Group recorded a 21.4% increase in total equity to ₦835.4 billion at the end of 2025. Total equity rose further to ₦1.14 trillion as of March 2026, up 36.5%, supported by retained earnings and additional capital raised through the Group's 2025 public offer. The Group's capital adequacy ratio stood at 26.95% as of March 2026, providing a strong capital buffer to support future growth. FCMB Group proposed a dividend of 35 kobo per share.

Commenting on the results, Group Chief Executive Ladi Balogun said:

"These results reflect the strength of our diversified business model and disciplined execution. We grew earnings, improved efficiency and strengthened our balance sheet while continuing to support customers and create value for shareholders. Our strong start to 2026 positions us well to sustain growth across the Group."

FCMB Group Plc is a financial services group, headquartered in Lagos, Nigeria, with operating companies divided along four business groups – The Banking Group (First City Monument Bank Limited (‘The Bank’), FCMB (UK) Limited and FCMB Microfinance Bank Limited); Consumer Finance (Credit Direct Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited) and Investment Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited). Listed on the Nigerian Stock Exchange (NSE) with the ticker symbol (FCMB), FCMB Group Plc has 65,954,593,274 ordinary shares held by over 620,000 shareholders.

First City Monument Bank Limited, the flagship company, has about 15 million customers and 205 branches in Nigeria and a banking subsidiary in the United Kingdom through FCMB Bank (UK) Limited (which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom).

https://pmnewsnigeria.com/2026/06/13/fcmb-group-posts-%E2%82%A6202-1bn-profit-before-tax-for-2025-%E2%82%A687bn-in-q1-2026/

First City Monument Bank Appoints Bismarck Rewane as Non-Executive Director and Chairman of its Board of Directors


First City Monument Bank (FCMB) Limited has appointed Mr. Bismarck Rewane as a Non-Executive Director and Chairman of its Board of Directors, following approval from the Central Bank of Nigeria.

Mr. Rewane is a respected economist and experienced leader in Nigeria’s financial sector, with more than 40 years of experience in macroeconomic research, investment banking, and strategic management. He is the Managing Director at Financial Derivatives Company Limited, a top financial advisory and economic research firm. He is a Fellow of the Nigerian Economic Society and has held leadership roles at International Merchant Bank Nigeria Limited and First National Bank of Chicago. He graduated from the University of Ibadan with a degree in Economics and is a Fellow of the Chartered Institute of Bankers of Nigeria and an Associate of the Institute of Chartered Bankers of England and Wales.

Mr. Rewane has served on the boards of blue-chip companies and multinationals, including Guinness Nigeria Plc., British American Tobacco, Henkel Nigeria Limited, Top Feeds Nigeria Limited, and Africa Infrastructure Plus Partners. He was a member of the Presidential Steering Committee for the Resolution of the Global Economic Crisis.

He has completed executive management programmes at top business schools, including the Oxford International Capital Markets programme, the Euromoney Institute of Finance, and IMD Lausanne, Switzerland.

The Board of Directors of First City Monument Bank welcomes Mr. Rewane. The Bank is confident that his expertise in macroeconomics, corporate governance, and strategic management, together with the Bank's stronger capital base, will strengthen its leadership and help drive the next phase of growth while continuing to deliver value to stakeholders.

First City Monument Bank Limited is a member of FCMB Group Plc, a financial services company that provides banking, consumer finance, investment management, and fintech services.

Digital Payment Adoption Grows as SMEs Embrace FCMB Collect



First City Monument Bank has since strengthened its digital banking offerings with “FCMB Collect”, a digital collections and payment solution developed to help businesses digitise cashflow management and improve payment operations. The platform targeted at micro, small, and medium enterprises (MSMEs), including distributors, wholesalers, manufacturers, startups, schools, service providers, and online merchants seeking easier ways to manage collections and customer payments.

The bank said, “FCMB Collect reflects the increasing need for businesses to adopt technology-driven systems capable of supporting operational efficiency, business growth, and improved customer experiences in an increasingly digital economy”.

According to FCMB, the platform allows merchants to collect payments seamlessly through multiple channels without requiring complex integrations or advanced financial expertise, and to remove common barriers preventing small businesses from embracing a digital payment system. Some perks are that businesses can also generate invoices, track transactions, send debt reminders, reconcile payments, and monitor cash flow performance through a single dashboard.

Industry experts have continued to highlight the importance of digital financial solutions in helping Nigerian SMEs scale sustainably, particularly as businesses increasingly rely on online transactions, mobile payments, and automated financial systems to meet changing consumer expectations.

The bank noted that FCMB Collect is also supporting stronger customer engagement by enabling businesses to send payment reminders and manage collections more professionally, ultimately improving customer trust and operational credibility. As part of its campaign strategy, the bank plans to deploy educational content, thought leadership initiatives, and merchant success stories to increase awareness about the benefits of digital collections and encourage adoption among growth-focused businesses across Nigeria.

Click here to sign -up or send a mail to smehelpdesk@fcmb.com for a Demo.

At 2026 Ojude Oba, FCMB embraces continuity and enterprise



For visitors arriving in the southwestern Nigerian town of Ijebu-Ode, the Ojude Oba festival first appears as a spectacle.

Thousands in embroidered fabrics honour the Awujale, Ijebuland’s traditional ruler, as horse riders thunder across open grounds and regberegbe parade in coordinated colours. Cameras flash and drums echo throughout the city.

However, beneath the visual grandeur, there is something more enduring: a functioning ecosystem of heritage, commerce and intergenerational identity.

This deeper meaning is also reshaping how Nigerian companies position themselves in relation to one of West Africa’s most prominent cultural festivals.

Among the brands redefining that conversation is First City Monument Bank (FCMB), a part of the FCMB Group, one of Nigeria’s leading financial institutions.

For years, companies sponsoring Nigerian festivals focused mainly on visibility. Concert stages, celebrity appearances, and branding campaigns dominated. Telecommunications companies, breweries, and consumer brands led, usually tying themselves to entertainment and spectacle.

Ojude Oba offers a unique cultural opportunity, analysts note.

Professor Fassy Yusuf, the 2026 Ojude Oba Festival Organising Committee Coordinator, called the festival a symbol of heritage, religious tolerance, pride, and Ijebu destiny. He said that beyond spectacle, Ojude Oba is truly about continuity: family, enterprise, prestige, and community memory.

It is in this context that FCMB’s long-standing association with enterprise, family legacy, and prosperity built across generations becomes especially resonant.

The festival itself reflects many of the values historically associated with the Ijebu people, who are widely known in Nigeria for strong trading traditions, family businesses and commercial networks that span generations.

Long before modern financial institutions emerged, Ijebu merchant culture was already organised around ideas of trust, reputation, inheritance and economic continuity.

Those themes remain visible throughout the festival.

Families come from across Nigeria, Europe, and North America for the annual procession, with generations often appearing together in matching clothes. Participation reinforces business legacies and social status. Local artisans, designers, photographers, and hospitality operators benefit from a surge in economic activity.

Ojude Oba functions as both a cultural celebration and an economic catalyst.

Fashion designers spend months on custom outfits. Hotels and restaurants fill to capacity. Transport operators, traders, and creatives benefit from increased demand as festival visitors flood the town.

For First City Monument Bank, this is the deeper connection to Ojude Oba — the festival’s power to strengthen social bonds while generating economic activity across communities. Rather than simply seeking visibility, the bank’s presence reflects an alignment with the values at the heart of the festival: heritage, enterprise, family legacy and prosperity built across generations. In that sense, FCMB’s participation feels less like brand promotion and more like a commitment to sustaining the culture, continuity and progress that define Ijebuland itself.

This evolving strategy also reflects a broader shift in how younger Africans engage with traditional culture.

Recently, Ojude Oba has become a digital phenomenon, fueled by Instagram, TikTok, and diaspora audiences fascinated by its blend of elegance, wealth, and indigenous identity.

For many younger Nigerians, the festival has become evidence that tradition and modern sophistication can coexist.

Consequently, that evolution has created new opportunities for brands seeking deeper cultural relevance.

While spectacle may attract attention, continuity creates a deeper emotional connection. Increasingly, the brands likely to endure are not merely those that advertise around culture, but those that understand culture as a form of social and economic infrastructure that shapes identity, community and long-term relevance.

This evolution may explain why institutions like FCMB are increasingly investing in narratives around legacy, community, and long-term prosperity rather than relying solely on conventional sponsorship messaging.

As cultural festivals across Africa evolve into global economic platforms, Ojude Oba is becoming a case study in how heritage can drive modern influence.

And for companies hoping to remain relevant across generations, that influence may prove more valuable than visibility alone.

FCMB Group Plc is deepening cultural engagement at Nigeria’s Ojude Oba festival by collaborating with finance professional and cultural figure Farooq Oreagba, whose appearances have helped propel the centuries-old celebration into global social-media and fashion conversations.

The partnership comes as Ojude Oba, a Yoruba cultural festival held annually in southwestern Nigeria, gains international visibility. Fashion platforms, diaspora communities, tourism stakeholders, and global media are paying increased attention to the festival.

FCMB has supported the festival for over two decades, noting that the initiative reflects its ongoing investment in cultural institutions that shape identity, foster enterprise, and boost local economic activity.

“Ojude Oba represents continuity, enterprise and community,” the financial services group said in a statement. “The festival has, for generations, connected people and created value across tourism, hospitality, fashion, media and commerce.”

Held in Ijebu-Ode, Ogun State, the festival draws thousands each year, including regberegbe age groups, horse-riding families, business leaders, and visitors from Nigeria and the diaspora.

In recent years, the event has grown from a regional gathering into one of Africa’s most recognisable festivals, driven in part by the viral spread of photographs and videos online.

Oreagba became a prominent festival figure after images of him in layered traditional attire, coral beads, and sunglasses, riding through the grounds, spread widely on social media and in style publications.

This imagery amplified global interest in Ojude Oba’s visual culture—horse processions, elaborate Yoruba fashion, and multigenerational displays of status and identity.

Despite this recent digital attention, FCMB said both the festival and Oreagba’s association with it have a much longer history.

“What the world is witnessing now is increased visibility around a longstanding cultural institution,” the Group said. “Ojude Oba has always carried cultural depth, sophistication and economic significance.”

This year’s festival, themed “Celebrating the Legacy of Oba Sikiru Adetona,” honours the late Awujale of Ijebuland, credited with making Ojude Oba one of Nigeria’s leading cultural events.

The festival has become an economic driver for Ogun State. It generates activity across hospitality, transportation, fashion, photography, media, and tourism.

FCMB said rising international interest in Ojude Oba shows how cultural institutions can serve as platforms for economic visibility, community engagement, and global cultural influence.

FCMB Helps Young Nigerians Build Lifelong Money Management Skills


First City Monument Bank (FCMB) has continued its financial literacy drive for secondary school students across Nigeria, helping young people build practical money management skills.

The initiative, carried out in collaboration with the Central Bank of Nigeria (CBN) as part of the 2026 Global Money Week celebration, reached thousands of students across the country's six geopolitical zones.

The programme, themed ‘‘Smart Money Talks’’, was designed to help students understand basic financial concepts early and develop the knowledge, skills, and attitudes needed to make informed financial decisions in a complex economic environment.

Through interactive sessions in Lagos, Kano, Abuja, Adamawa, Ogun, Imo, and Akwa-Ibom states, students learned about prudent resource management, budgeting, responsible spending, saving culture, and productive use of money.

The initiative reflects FCMB’s commitment to promoting quality education, financial inclusion, and poverty reduction in line with the Sustainable Development Goals.

Speaking on the programme, FCMB’s Divisional Head of Corporate Affairs, Diran Olojo, said financial literacy remains a critical life skill for young people.

“This initiative goes beyond teaching money management. Financial literacy empowers people, promotes responsible behaviour, and supports long-term economic inclusion. We want to nurture a generation that is informed, self-reliant, and equipped to make sound financial choices.”

Olojo added that FCMB remains committed to investing in young Nigerians through initiatives that equip them to navigate life with confidence and responsibility.

In his lecture to students of Hasiyanda Secondary School, Kano, FCMB’s Zonal Head, North-west, Ali Yahaya, said:

“Understanding money is one of the most important life skills you can develop. Financial literacy helps you make informed choices, avoid costly mistakes, and build a secure future regardless of your background or income level. Saving is not just about setting money aside; it builds discipline, resilience, and long-term thinking. Developing good financial habits early can shape opportunities and improve your future.”

He further advised students to build and earn income responsibly through creative skills, holiday jobs, and online businesses. He also urged parents to teach their children effective financial management by saving consistently and spending wisely.

Global Money Week is an annual international awareness campaign aimed at ensuring that children and young people acquire the financial knowledge, skills, attitudes, and behaviours necessary to make sound financial decisions and achieve financial wellbeing.

Since 2014, FCMB has provided financial education to nearly 20,000 secondary school students across Nigeria’s six geopolitical zones. The programme also supports ongoing efforts to address low financial literacy levels in the country.

By continuing to support financial education initiatives, FCMB and the CBN are helping to raise a generation better equipped to make informed choices, manage resources responsibly and contribute meaningfully to society.

REA, FCMB, Others Launch $188 million Fund to Finance 191mw Solar Capacity


The Green Finance Investment Facility (GFiF), a blended finance platform to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has officially launched.

The facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, aims to raise $188 million to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.

The initiative also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national effort to expand electricity access through decentralised renewable energy solutions.

Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner, more sustainable energy systems.

Speaking at the launch, the Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.

“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy,” he said.

Also speaking, Anthony Feyitimi, Senior Partner, Barton Heyman, said:

“The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy. Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete. We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility. The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”

The Managing Director of the REA, Abba Aliyu, said the initiative directly addresses one of the sector’s most pressing constraints — access to finance.

“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment. Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” he stated.

Speaking on behalf of FCMB, George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.

“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed ₦100 billion in debt financing for DARES. Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers. We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities. This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.

He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.

Derek Chime, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.

Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.

Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.

Nigeria continues to face significant challenges in electricity access, with millions of households and businesses lacking a reliable power supply. Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.

FCMB Asset Management Limited Rebrands Four Mutual Funds, Secures SEC Approval for Name Change of Mutual Funds




FCMB Asset Management Limited (FCMBAM), the Asset Management arm of FCMB Group Plc, announced that it has received approval from the Securities and Exchange Commission (SEC) for the execution of the supplemental Trust Deeds of the FCMBAM’s mutual funds. The approval includes the change of name of its Legacy mutual funds and reduction in the minimum subscription units of the Funds and follows the successful conclusion of unitholders’ meetings at which investors in each of the affected mutual funds voted in favour of the proposed changes.

The changes mark a deliberate step in FCMBAM’s ongoing brand consolidation, aligning the company’s public-facing products with the FCMBAM identity that has become synonymous with disciplined, transparent, and internationally benchmarked asset management services in Nigeria.

Fund Name Changes

With effect from the date of SEC approval, the following name changes are in full legal force:

Former Name New Name
Legacy Money Market Fund FCMBAM Money Market Fund
Legacy Debt Fund FCMBAM Debt Fund
Legacy Equity Fund FCMBAM Equity Fund
Legacy USD Bond Fund FCMBAM USD Bond Fund
Minimum Unit Subscription Revisions

Concurrent with the rebranding, FCMB Asset Management Limited (FCMBAM) has revised the minimum unit subscription thresholds for three of its mutual funds, as approved by the SEC and reflected in the supplemental Trust Deeds.

These changes are intended to make investing more affordable and accessible to a wider range of investors. The minimum subscription for the local-currency bond-based FCMBAM Debt Fund has been reduced from 25,000 units to 1,000 units, while the minimum subscription for the local-currency equity-based FCMBAM Equity Fund has been lowered from 10,000 units to 1,000 units, helping to reduce the barrier to entry for more retail investors. The revised threshold for the US Dollar bond-based FCMBAM USD Bond Fund has decreased from 1,000 units to 100 units and aligns with FCMBAM’s broader commitment to expanding access to dollar-denominated investment opportunities for retail investors. The FCMBAM Money Market Fund remains unchanged at a minimum subscription of 1,000 units.

“This rebranding is more than a name change; it is a statement of intent. It, once again, signals to the investment community that FCMBAM prioritises the democratisation of access to professional investment management services, in line with our Purpose of fostering inclusive and sustainable growth in the communities we serve. We thank our unitholders for their confidence in us all through this process and remain committed to delivering even stronger outcomes for our clients, under our refreshed identity.

James Ilori, Chief Executive Officer, FCMB Asset Management Limited

All existing investment positions, account records, and fund documentation will be updated to reflect the new names. Unitholders are not required to take any action. This change will have no impact on client investments, which will remain fully secure and unaffected. Further enquiries may be directed to FCMB Asset Management Limited through the contact details fcmbamenquiries@fcmb.com.

About FCMB Asset Management Limited

FCMB Asset Management Limited (FCMBAM) was established in 1997 to provide portfolio management and investment advisory services to individual and institutional clients.

The Company is a wholly-owned subsidiary of CSL Stockbrokers Limited, a member of FCMB Group Plc, one of Nigeria’s leading financial services holding companies. FCMBAM is licensed by the Securities and Exchange Commission (SEC), Nigeria, and is rated A(IM) by Agusto & Co and A2(NG) Short-term Issuer & A-(NG) Long-term Issuer by GCR. FCMBAM currently manages five Collective Investment Schemes, including Nigeria’s first local-currency Private Debt Fund, FCMB-TLG Private Debt Fund, and offers Discretionary and Non-discretionary Portfolio Management services.