First Bank official change of Name.
First Bank of Nigeria (FBN) Holdings Plc has recently received approval for it’s change of name.
ABOUT FIRSTBANK.
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for 129 years.
OFFICIAL CHANGE OF NAME.
The company’s shareholders approved the change of name at the 12th Annual General Meeting (AGM).
This meeting held virtually on Thursday, November 14th, 2024.
Adewale Arogundade, the company’s secretary, confirmed that the resolution applies to all FBN Holdings’ subsidiaries.
The name change is being implemented to align the subsidiaries with the parent brand.
This will further enhance the quality of service delivery resulting in better brand clarity, uniformity and consistency across all the markets where the Bank operates.
The company’s original legal name was FirstBank of Nigerian Holdings Plc.
The company’s newly Approved legal name is now First Holdco Plc.
And its official brand name is now FirstHoldco.
This is as approved during the 12th Annual General Meeting (AGM).
Dr. Adesola Adeduntan, CEO of FirstBank Group, stated:
The name change which coincides with FirstBank’s 129th founding anniversary (March 31st, 2023).
It is indeed a milestone reflective of our resolve to continuously provide the gold standard of excellence and value as we put our customers First.
FIRST BANK TO RAISE N350 BILLION.
During the same meeting held on Thursday the 14th of November.
The shareholders also approved FBN Holdings’ plan to raise N350 billion by issuing new shares.
Capital for this will be raised will be through various methods, including a public offering, private placement, rights issues or a mix of two or all of that.
FBN SUBSIDIARIES CHANGE OF NAME.
The companies in the First Holdco Plc include:
First Bank of Nigeria Limited (FirstBank)
The Merchant Banking and Asset Management business of FBNHoldings, which comprises: FBNQuest
Merchant Bank Limited,
Capital Limited,
Trustees Limited,
Capital Asset Management Limited,
FBFunds Limited and FBNQuest.
FBNHoldings group also comprise insurance businesses, namely;
FBN Insurance Limited,
FBN General Insurance Limited and FBN Insurance Brokers Limited.
The business group offers life and general insurance services, as well as brokerage services.
FIRST BANK ANNOUNCES NEW DATE FOR SYSTEM MIGRATION
First Bank made an official announcement in an email targeted at vendors and all it’s customers.
Stating that it will transition to a new cloud-based procurement and financial platform from Saturday, the 26th of October,2024.
However, the bank said the migration will be fully operational from Monday,the 4th of November, 2024.
Customers please take note
As the scheduled system migration that temporarily disrupted certain banking services.
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