Which is the oldest bank in Nigeria? (2024)

Which is the oldest bank in Nigeria?

Established in 1894, First Bank is Nigeria's oldest bank. It started operations in Lagos as Bank of British West Africa (BBWA) until it changed its name to First Bank of Nigeria Limited in 1979.

Which was the First Bank in Nigeria?

First Bank of Nigeria Limited (FirstBank), established in 1894, is the premier bank in West Africa, Nigeria's number one bank brand and the leading financial services solutions provider in the country. The bank was founded by Sir Alfred Jones, a shipping magnate from Liverpool, England.

What is the second oldest bank in Nigeria?

2. Union Bank of Nigeria (Founded 1917)

Which bank is the richest bank in Nigeria?

Zenith Bank is Nigeria's most capitalized bank, with a capital base of about N1. 92 trillion as of September 2023.

What are the top 5 banks in Nigeria?

The ₦1 Trillion club: Nigeria's five biggest banks are now valued at ₦6.1 trillion. Nigeria's five biggest banks—First Bank, Access Bank, UBA, Guaranty Trust Bank and Zenith Bank—have achieved a market capitalisation of at least N1 Trillion each on NGX, Nigeria's stock exchange.

What is the name of the biggest bank in Nigeria?

According to BusinessDay's findings, Access Bank top the list with total assets of N15 trillion, followed closely by Ecobank with total assets of N13. 37 trillion and Zenith Bank with total assets of N12. 29 trillion as of December 2022.

Who is the owner of First Bank of Nigeria?

First Bank of Nigeria is a multinational bank and financial services company in Lagos, Nigeria. First Bank is owned by FBN Holdings PLC, which in itself has diversified ownership with over 1.3 million shareholders.

How old is First Bank of Nigeria?

Since launching in 1894, FirstBank has established itself as a brand of strength and dynamism, with the vision to be the leading international banking group in Sub Saharan Africa.

What is the name of the richest bank in Africa?

South Africa's Standard Bank Group was the largest bank in Africa as of 2022, with total assets worth nearly 170 billion U.S. dollars. Operating in 20 countries on the continent, the bank group also led the African banking sector by tier 1 capital.

Which Nigerian bank is the safest?

Access Bank Plc has been named the 'Safest Bank' in Nigeria for 2020 by Global Finance for its continued efforts in ensuring the protection of customers' funds and data.

Which bank produce money in Nigeria?

Section 2b and Section 17 of the CBN act gives the CBN the sole right to issue currency notes and coins throughout Nigeria and neither the Federal Government nor any state Government, Local Government, other person or authority shall issue currency notes, banknotes or coins or any document or token payable to bearer on ...

Who is the richest bank owner in Nigeria?

Jim Ovia, Nigeria's Richest Banker, Earns N10. 42 Billion From Zenith Bank Shares in 8 Days - Legit.ng.

Which bank is the best in Africa?

The Bank of Africa (BOA) is Africa's overall Best Bank. For the Morocco-based Pan-African lender, emergence as Africa's best bank has been in the making. However, it has not been an easy journey. The bank is present in 20 countries in Africa and boasts 531 branches.

Which bank is the best bank in Nigeria 2024?

Kindly share this story: Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024 for the fourth time. A statement from the bank on Monday revealed that the bank had been winning the award since 2019.

Which bank is in Nigeria and also in USA?

As the only sub-Saharan African bank with an operational banking license in the U.S., UBA America provides critical services to those in and out of Africa.

Which are the 20 failed bank in Nigeria?

“The closed banks covered by this exercise include Liberty Bank, City Express Bank, Assurance Bank, Century Bank, Allied Bank, Financial Merchant Bank, Icon Merchant Bank, Progress Bank, Merchant Bank of Africa (MBA), Premier Commercial Bank, North-South Bank, and Prime Merchant Bank.

Which Nigeria bank is in United Kingdom?

FirstBank UK has been operating in the United Kingdom since 1982 as the London Branch of the First Bank of Nigeria (FBN) Plc. It was initially established to service the UK banking requirements of Nigerian companies and First Bank Nigeria Plc.

How old is Zenith Bank?

Zenith Bank Plc, founded by Jim Ovia CFR, in 1990, has since grown astronomically to become one of the leading financial institutions in Africa. Zenith Bank Plc currently ranks as the 10th biggest bank in the continent. The Bank grew its shareholder's fund of ₦20 million in 1990 to ₦1.38 trillion as at year end 2022.

Which bank does Otedola own?

Mr Otedola became a non-executive director of FBN Holdings on 14 August 2023, months after he acquired a substantial stake in First Bank. Mr Otedola is the financial institution's biggest and only substantial shareholder, holding a 5.6 per cent stake.

Who is the highest shareholder in First Bank Nigeria?

First Bank Nigeria (FBN) Holdings Plc has named Barbican Capital Limited, owned by Oba Otudeko, as its majority shareholder — ending months of uncertainty around the acquisition made in July 2023.

When was bank invented in Nigeria?

Specifically, the present system of banking was launched in Nigeria in the year 1892 when the African Banking Corporation, a South Africa-based bank, opened a branch in Lagos (Igweike, 2005;Oluduro, 2015;Uche, 1997).

Is there first bank outside Nigeria?

First Bank of Nigeria, a Nigerian bank with branches in Ghana, South Africa, Guinea, Gambia, Sierra Leone, DRC, UAE, United States, UK, France, China, etc.

Who is the oldest bank?

The oldest bank still in existence is Banca Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.

Which bank is the most strongest in Nigeria?

Zenith Bank remains firmly at the top of the capitalization ladder, holding a substantial capital base of N1. 92 trillion, solidifying its position as the most capitalised bank in Nigeria. UBA closely follows Zenith Bank, showcasing a capital base of N1.

Which bank is richer in Nigeria?

Zenith Bank is Nigeria's most capitalized bank, with a capital base of about N1. 92 trillion as of September 2023.


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