FirstBank Debunks Fraud Allegations, Reaffirms Commitment to Integrity
Lagos, Nigeria – First Bank of Nigeria Limited (“FirstBank”) has categorically denied recent allegations of fraud published by Tech Cabal, describing the claims as baseless and unsupported by factual evidence.
In an official statement signed by Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications, the bank emphasized its long-standing reputation for ethical practices, good corporate governance, and solid customer relationships, built over 130 years of operation.
About FirstBank
Founded in 1894, FirstBank is West Africa’s premier banking institution and a leading financial inclusion provider in Africa. The bank operates internationally across three continents—Africa, Europe, and Asia—with subsidiaries and representative offices in countries including the UK, China, The Democratic Republic of Congo, Ghana, The Gambia, Guinea, Sierra Leone, and Senegal.
FirstBank is fully licensed by the respective Central Banks in its operating countries and is committed to fostering international trade and cross-border transactions. Over the years, the bank has consistently been at the forefront of promoting digital payment solutions, with over 13 million cards issued and nearly 23 million customers actively using its digital platforms, including its *894# USSD Quick Banking service.
With more than 42 million customer accounts and 820 business offices spread across Nigeria and beyond, FirstBank provides comprehensive retail and corporate banking solutions, as well as pension fund custody and nominee services through its subsidiaries.
Commitment to Excellence and Innovation
FirstBank’s reputation as a financial leader is reinforced by numerous accolades, including:
- Euromoney Awards (2024): Nigeria’s Best Bank for ESG and Best Bank for Corporates
- Global Banking and Finance Awards (2024): Best SME Bank, Best Retail Bank, and Best CSR Bank in Nigeria
- Global Finance Awards (2023): Best Sustainable Bank in Nigeria
In addition to receiving these awards, the bank maintains a robust credit rating, holding A+ with a positive outlook from Global Credit Rating and other commendable scores from Fitch and Standard & Poor’s.
Diversity and Sustainability
The bank is deeply committed to fostering diversity, as evidenced by its FirstBank Women Network and alignment with the UN Women’s Empowerment Principles. Sustainability also remains a cornerstone of its operations, with innovative approaches aimed at driving financial inclusion and community development.
A Reassurance to Stakeholders
FirstBank reassures its customers, stakeholders, and the general public of its unwavering commitment to transparency, integrity, and excellence. It reiterates that the fraud allegations are false and remain inconsistent with its values and track record.
"Our vision is to be Africa’s Bank of first choice, guided by our core values of entrepreneurship, professionalism, innovation, and customer-centricity. We remain committed to delivering the ultimate gold standard of service to position ‘You First’ in every respect," the statement concluded.
For more information, visit FirstBank’s official website or contact its customer service channels.
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