When Elizabeth Ayodeji Adeyefa joined the Retail Banking Group of First Bank of Nigeria Plc, the institution was looking to reinvent its engagement with customers in an increasingly competitive market. She had emerged as one of the bank’s most dynamic professionals, pioneering customer acquisition strategies and SME-focused credit systems that yielded unprecedented growth in profitability and outreach.
Elizabeth’s most notable achievement was her role in expanding First Bank’s retail customer base. By developing a targeted acquisition program that appealed to government officials and educational institutions, she delivered a 25 percent increase in new customers in less than two years. This translated into 10 percent revenue growth for her unit, a remarkable feat in a period when many competitors were experiencing stagnation.
Her vision extended to the SME sector, where she introduced a revolving 90-day credit facility for entrepreneurs. Managing more than 50 SME clients, she maintained a zero-default rate across four consecutive cycles, proving her ability to merge financial innovation with prudent risk management. These facilities generated a 25 percent revenue boost for the retail division while also fueling grassroots business growth across Nigeria.
Elizabeth also demonstrated skill in cost management and profitability optimization. By identifying high-cost client relationships and tailoring specialized product mixes, she delivered a 20 percent increase in profitability across selected portfolios.
“Her strategies became a template across other regions,” said one senior bank executive. “Elizabeth had the foresight to combine data-driven decision-making with customer-centric solutions — a rare skill that reshaped our retail operations.”
Her tenure at First Bank underscored how one professional could blend strategic innovation and financial stewardship to produce outcomes of national significance. For many within the banking sector, Elizabeth Adeyefa’s early achievements remain a reference point for the power of youth, innovation, and vision in transforming financial institutions.
