First Bank of Nigeria Limited receives the largest prize from Afreximbank

First Bank - Rapid News GH

First Bank of Nigeria Limited, the parent company of FBNBank Ghana, won the Pan African Business and Development Awards presented by the African Export-Import Bank (Afreximbank) with the Financial Institution of the Year Award.

The awards ceremony commemorated Afreximbank’s 30th birthday.

The Pan-African lender held its 30th Annual Afreximbank Meetings in Accra, Ghana, in collaboration with the Business Council for Africa (BCA), where the Pan-African Business and Development Awards were launched.

The honor given to First Bank is in appreciation of the bank’s significant contribution to fostering commerce and investment across the continent, which has bolstered international trade and economic ties.

First Bank has maintained its leadership position in fostering cross-border commerce, including trade and investment opportunities, which are crucial to improving trade relations among nations, through its subsidiaries within the First Bank Group.

International transfer

First Bank started its First Global Transfer (FGT) program in 2021 as part of its role in facilitating cross-border transactions. This initiative was created expressly to guarantee safe, prompt, and increased efficiency in the transfer of cash across the network of First Bank subsidiaries in Africa.

The FGT is available to everyone who resides in the country from where the funds are being transferred, not just First Bank Group customers.

Dr. Adesola Adeduntan, CEO of First Bank Group, commented on the prizes in the following way:

We express our gratitude to the event’s organizers, the African Development Bank and the British Columbia Association, for their acknowledgment of our efforts to advance international commerce, finance, and investment prospects.

He claimed that the service had been crucial to the continent’s and the world’s ongoing development.

Mr. Adeduntan dedicated the prize to the First Bank Group’s workers in appreciation of their devotion and labor of love, as well as to the patrons who have supported the company for more than 129 years.

Victor Yaw Asante, Managing Director/CEO of FBNBank Ghana, who accepted the honor on behalf of the organization, said:

It is no accident that the prize was presented in Ghana, where we are working to build our subsidiary into a massive financial organization like our parent company in Nigeria.

Prof. Benedict Oramah, President and Chairman of Afreximbank, also spoke about the awards:

“We are honoring exceptional institutions and leaders tonight.

I have had the good fortune to work with several of them since I started at the bank in 1994.

According to Prof. Oramah, “At Afreximbank, assisting in Africa’s development is a lifetime vocation, as I know it is for all those that we have recognized tonight.”

The BCA’s chairman and former Group CEO of Ecobank, Arnold Ekpe, stated that it was important to recognize these individuals and organizations since frequently, business leaders did not receive the recognition they deserved.

Although it’s not always simple, doing business on the continent may be beneficial, and, more significantly, it is feasible to create successful companies that can compete on a worldwide scale.

This has been proven by our winners tonight,” Mr. Ekpe continued.

Track record

For its sustained great performance, FirstBank has consistently received recognition from prominent international organizations.

A recent winning run includes the accolades for Best Private Bank for Sustainable Investing in Africa by Global Finance and Best Financial Inclusion Service Provider Nigeria 2023 by Digital Banker Africa.

The Pan-African Business and Development Awards are intended to recognize and honor the achievements of great businesses and individuals working in the African financial and business sectors.

National Bank of Egypt and Coris Bank were two additional banks honored as Financial Institutions of the Year.

Eight recognition awards were also given to some Afreximbank employees in honor of their long tenure with the company.

Prof. Oramah, who has worked at Afreximbank for more than 29 years, was among them.

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