First Bank’s Parent Company Sells Bank Amid CBN Recapitalisation Drive
First Bank’s Parent Company Sells Bank Amid CBN Recapitalisation Drive
First Bank’s Parent Company Sells Bank Amid CBN Recapitalisation Drive
The parent company of First Bank of Nigeria, the country’s oldest and one of its most prominent financial institutions, has confirmed the sale of the bank to new investors, in line with the Central Bank of Nigeria’s (CBN) ongoing banking sector recapitalisation drive.
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Founded in 1894 as the Bank of British West Africa, First Bank has played a pivotal role in Nigeria’s economic development for over a century, serving millions of customers and supporting key sectors of the economy. Over the years, it has grown into a leading retail and corporate bank with a widespread branch network across Nigeria and a presence in several African countries.
The sale comes as part of regulatory efforts to strengthen the financial sector, boost stability, and enhance operational efficiency, ensuring that banks remain well-capitalised, competitive, and able to drive national economic growth.
First Bank’s Parent Company Sells Bank Amid CBN Recapitalisation Drive
