About 13 decades after its ground-breaking entry into what has become Nigeria’s leading sector, First Bank of Nigeria Limited, yesterday, laid the foundation stone for a 44-storey edifice at Eko Atlantic, a city already touted as the Manhattan of West Africa.
The ceremony, which drew participation from the country’s political, social and financial scenes with serving governors taking turns to highlight the leading role of West Africa’s pioneering financial institution in nurturing the Nigerian economy, has put the bank forward as the first in what could be a frenzy for a slice of the Atlantic city in years to come.
In the financial circle, the ambitious edifice is a telling reflection of the bank’s thirst for continual dominance in an economy whose many turbulences it has survived in its 130 years of existence – a moment it seized as Nigeria’s banker and later the symbol of the country’s entrepreneurial resilience.
By every standard when the iconic building is completed, it would validate what the bank is already known for – including the emblem of its corporate identity (strength) – and much more, such as pointing to what eco-friendly should be.
The ground-breaking ceremony, led by Vice President Kashim Shettima, could not have come at a better time. First, it coincides with a historic leadership reinvigoration, which has seen one of Nigeria’s most courageous entrepreneurs, Femi Otedola, leading its parent company, First HoldCo Plc.
As Otedola regaled the audience with the exciting future ahead of the bank yesterday, he described the project as “the ninth wonder of the world” with the first, according to him, being Dangote Petroleum Refinery Limited, another first project of its kind in Africa whose promoter, Aliko Dangote, joined other dozens of leading investors at the FirstBank’s tower groundbreaking.
The billionaire investor was confident of the bright future ahead of the bank, saying the iconic building, which will be the tallest in the country on completion, will serve as “the engine room of FirstBank’s next phase of growth and dominance”.
The CEO of FirstBank Group, Olusegun Alebiosu, also described the construction as “the beginning of a new chapter in our enduring legacy – a legacy that has stood the test of time for over 13 decades, evolving with the financial landscape of our nation, and continuously shaping the future of banking in Nigeria and beyond”.
“This ground-breaking ceremony is a momentous occasion for us, signifying our commitment to repositioning sturdily as ‘the’ bank for the future. Therefore, this new head office complex is not just about a modern architectural masterpiece, it is also about reimagining banking for generations yet unborn. It will serve as a hub for financial innovation, digital transformation and operational excellence, ensuring that FirstBank remains ahead in an era where technology is reshaping the industry,” Alebiosu, who is charting another decade of exceptional growth, added.
The milestone achievement, he said, would not have been possible without the unwavering support and collaboration of many individuals and institutions who have become pillars of the bank’s decades of rising.
For Shettima, the tower will emerge as “a symbol of our nation’s progress and ambition” and stand as a testament to its economic strength and vitality.
“The tower will be the tallest building in West Africa at 44 upon completion… For 130 years, FirstBank has been a pillar of our economy, empowering businesses, supporting families and driving financial innovation. FirstBank has extended its reach from Lagos to London and all around major financial centres worldwide, proudly flying Nigeria’s flag on the global stage,” the VP, who was also an ex-banker, said.
The Eko Atlantic, a reclaimed land from the Atlantic, symbolises audacity and sits on 10 square kilometres, which is larger than Lagos Island, the current financial hub of the country.
