We would want to dispel a false rumor about a FirstBank system upgrade that has been making the rounds. The misunderstood and reported message was sent to and intended only for our vendors. Its main goal was to enable more features and benefits for our vendors by moving from our current I-Supplier Platform, which is our automated platform that links us to suppliers, to a new Cloud-based Supplier Platform, which is a top-tier platform for managing suppliers. Please be aware that all of our customer applications are completely functional and that there isn’t a system upgrade going on right now. Our services are not being interrupted, and the improved supplier platform won’t have an impact on our banking systems, consumer transactions, channels, etc. As long as you continue to have unbroken access to our services, you can be sure that we will always be dedicated to providing seamless service delivery. Concerning FirstBank First Bank of Nigeria Limited, sometimes known as “FirstBank,” was founded in 1894 and is the top bank in West Africa, one of Africa’s top providers of financial inclusion services, and a major player in digital banking. With FirstBank UK Limited in London and Paris, FirstBank in the Democratic Republic of Congo, Ghana, The Gambia, Guinea, and Sierra Leone, FBNBank in Senegal, and a FirstBank Representative Office in Beijing, China, FirstBank has a presence in three continents: Africa, Europe, and Asia. Every subsidiary bank is fully registered to offer full banking services by their separate central banks. The representative offices in Paris and China enable commerce flows from Asia and Europe into Nigeria and other African nations, and the subsidiaries not only offer local banking services but also participate in international cross-border transactions with FirstBank’s non-Nigerian subsidiaries. With more than 13 million cards issued to consumers, FirstBank has been at the forefront of promoting digital payments in the nation for more than 130 years. It is the first bank in Nigeria to reach this milestone. FirstBank has an exceptional reputation for strong relationships, sound corporate governance, and a strong liquidity position. With nearly 23 million active FirstBank customers signed up on digital channels, including the USSD Quick Banking service through the nationally recognized *894# Banking code, the bank has steadily increased its cashless transaction drive while continuing to make large investments in technology, innovation, and transformation. The Bank offers a wide range of retail and wholesale financial services through more than 820 business offices and more than 243,400 agent locations spread across 772 out of 774 Local Government Areas in Nigeria. The Bank has more than 42 million customer accounts (including digital wallets) spread across Nigeria, the UK, and sub-Saharan Africa. FirstBank offers banking services and solutions as well as nominee and related services through First Nominees Nigeria Limited and pension fund custody services in Nigeria through First Pension Custodian Nigeria Limited. The female to male employee ratio (roughly 39%:61%) and the presence of 32% of women in management are just two examples of FirstBank’s policies, partnerships, and initiatives that demonstrate the bank’s commitment to diversity. Another is the FirstBank Women Network, which aims to close the gender gap and boost the involvement of women at all organizational levels. A conscious policy that aligns with UN Women’s Women Empowerment Principles (WEPs) ─ Equal Opportunity, Inclusion, and Non-discrimination is also affirmed by the Bank’s membership in UN Women. FirstBank won the title of “Best Retail Bank in Nigeria” eight times in a row, from 2011 to 2018, from the Asian Banker International Excellence in Retail Financial Services Awards, and “Most Valuable Bank Brand in Nigeria” for six years in a row, from 2011 to 2016, according to the internationally recognized Financial Times Group’s The Banker Magazine. FirstBank won several noteworthy awards in 2023, including the Global Finance Awards’ “Best Private Bank for Sustainable Investing in Africa 2023,” the International Investors Awards’ “Best Sustainable Bank in Nigeria 2023,” the International Investors Awards’ “Best Bespoke Banking Services in Nigeria 2023,” Digital Banker Africa’s “Best Financial Inclusion Service Provider in Nigeria 2023,” African Leadership Magazine’s “African Bank of the Year,” the Euromoney Awards’ “Best Corporate Bank in Nigeria 2023,” and the Global Brands Award for “Most Innovative Banking Brand – Nigeria 2023.” Notably, as of September 2023, FirstBank’s global credit rating was A+ with a positive outlook, while Fitch and Standard & Poor’s ratings were A (nga) and ngBB+, respectively, with stable outlooks. For the first time since 2015, FirstBank was able to keep the same level of international credit ratings as the sovereign in 2022.
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