First Bank Of Nigeria Is one of the top financial banks in Africa and one of the largest financial groups in Nigeria. First bank was the first major financial security institution founded in Nigeria. Hence the name First bank of Nigeria. It was originally called the Bank of British West Africa as it had a regional outlook. The current chairman is Umaru Mutallab. First bank was founded by a shipping magnate as a medium of financial security and to promote the use of silver currency or money against indigenous barter in Nigeria.
First Bank of Nigeria was Nigeria’s first commercial bank (established in 1894). During 1993 the Nigerian government sold its 45% holding to Nigerian investors.
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