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FIRSTBANK FILES APPEAL

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  • INJUNCTION AND STAY OF EXECUTION
  • CARGO REMAINS UNDER ARREST

In a surprising twist of events, its decision delivered today, the Federal High Court in a surprising shift from the true nature of FirstBank ’s claim held that the matter is not a maritime claim but rather, a simple case of debt recovery. This is quite surprising considering the fact that the order sought is to prevent further fraudulent sale of crude on the FPSO.

Shockingly, the court also held that the Arrest Order against the cargo, because it was exparte in nature, expired by effluxion of time within 14 days of its issuance.

Aggrieved by the decision, FirstBank lodged an appeal against the decision of the FHC. Also, FirstBank filed an application for an injunction of the court against GHL, pending the determination of the appeal. The Cargoes of Crude Oil on the FPSO TAMARA TOKONI remain arrested.

While FirstBank has great respect for the courts, it strongly disagrees with the ruling, which, in our view, constitutes a miscarriage of justice.

FirstBank remains committed to protecting and securing the interest of its members and will relentlessly pursue justice against mischievous debtors seeking to use the machinery of the law to perpetuate mischief and evade their responsibility to offset outstanding obligations.

About FirstBank

First Bank of Nigeria Limited “FirstBank”, established in 1894, is the premier bank in West Africa, a leading financial inclusion services provider in Africa, and a digital banking giant. 

FirstBank’s international footprints cut across three continents ─ Africa, Europe and Asia, 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. All the subsidiary banks are fully registered by their respective Central Banks to provide full banking services.

Besides providing domestic banking services, the subsidiaries also engage in international cross-border transactions with FirstBank’s non-Nigerian subsidiaries, and the representative offices in Paris and China facilitate trade flows from Asia and Europe into Nigeria and other African countries.

For 130 years, FirstBank has built an outstanding reputation for solid relationships, good corporate governance, and a strong liquidity position, and has been at the forefront of promoting digital payment in the country with over 13 million cards issued to customers (the first bank to achieve such a milestone in Nigeria). FirstBank has continued to make significant investments in technology, innovation and transformation, and its cashless transaction drive has been steadily accentuated with virtually 23 million active FirstBank customers signed up on digital channels including the USSD Quick Banking service through the nationally renowned *894# Banking code.

With over 42 million customer accounts (including digital wallets) spread across Nigeria, UK and sub-Saharan Africa, the Bank provides a comprehensive range of retail and wholesale financial services through more than 820 business offices and over 233,500 agent locations spread across 772 out of the 774 Local Government Areas in Nigeria.

In addition to banking solutions and services, FirstBank provides pension fund custody services in Nigeria through First Pension Custodian Nigeria Limited and nominee and associated services through First Nominees Nigeria Limited.

FirstBank’s commitment to Diversity is shown in its policies, partnerships and initiatives such as its employees’ ratio of female to male (about 39%:61%; and 32% women in management) as well as the FirstBank Women Network, an initiative that seeks to address the gender gap and increase the participation of women at all levels within the organisation.  In addition, the Bank’s membership of the UN Women is an affirmation of a deliberate policy that is consistent with UN Women’s Women Empowerment’s Principles (WEPs) ─ Equal Opportunity, Inclusion, and Nondiscrimination.

For six consecutive years (2011 – 2016), FirstBank was named “Most Valuable Bank Brand in Nigeria” by the globally renowned The Banker Magazine of the Financial Times Group and “Best Retail Bank in Nigeria” eight times in a row, 2011 – 2018, by the Asian Banker International Excellence in Retail Financial Services Awards.

In 2022, the Top 100 African Bank rankings released by The Banker Magazine ranked FirstBank as number one in Nigeria in terms of Overall Performance, Profitability, Efficiency and Return on Risk. Also in 2022, the Bank received the “Most Innovative Retail Banking Product in Nigeria (FastTrack ATM)” and “Best Retail Bank in Nigeria” awards from International Finance Magazine. FirstBank was also awarded “Best Corporate Banking Western Africa, 2022” and “Best CSR Bank Western Africa, 2022’’ by Global Banking and Finance Magazine.

Other notable awards in FirstBank coffers include: “Best Bank in Nigeria” by Global Finance magazine – fifteen times in a row; “Best Private Bank in Nigeria-2021” awarded by Global Finance magazine; “Best Internet Banking Nigeria” and ‘’Best CSR Bank Africa’’ by International Business Magazine.

In 2023, FirstBank received notable awards including “Best Private Bank for Sustainable Investing in Africa 2023” by Global Finance Awards; “Best Sustainable Bank in Nigeria 2023” by International Investors Awards; “Best Bespoke Banking Services in Nigeria 2023” by International Investors Awards; “Best Financial Inclusion Service Provider in Nigeria 2023” by Digital Banker Africa; and “African Bank of the Year” by African Leadership Magazine; ’’Best Corporate Bank in Nigeria 2023’’ by Euromoney Awards and ‘’Most Innovative Banking Brand – Nigeria 2023’’ by Global Brands Award.

Other laudable feats in 2023 include FirstBank’s international recognitions on major indices by Euromoney Market Leaders, an independent global assessment of the leading financial service providers where FirstBank was crowned:

Market Leader: (tier-1 recognition) in Corporate Banking,

Market Leader: (tier -1 recognition) in Digital Solutions,

Highly Regarded: Corporate and Social Responsibility (CSR),

Highly Regarded: Environmental, Social and Governance (ESG), Notable: in SME Banking.

Significantly, FirstBank’s Global Credit Rating was A+ with a positive outlook while ratings by Fitch and Standard & Poor’s were A (nga) and ngBBB+ respectively both with Stable outlooks as at September 2023. FirstBank maintained the same level of international credit ratings as the sovereign; a milestone that was achieved in 2022 for the first time since 2015.

Our vision is ‘To be Africa’s Bank of first choice’ and our mission is ‘To remain true to our name by providing the best financial services possible. This commitment is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Customer-Centricity. Our strategic ambition is ‘To deliver accelerated growth in profitability through customer-led innovation and disciplined execution and our brand promise is always to deliver the ultimate “gold standard” of value and excellence to position You First in every respect.

Olayinka Ijabiyi

Ag. Group Head, Marketing & Corporate Communications

First Bank of Nigeria Limited 

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ZENITH BANK CHAMPIONS ENVIRONMENTAL SUSTAINABILITY WITH TWO-PHASE CLEAN-UP IN LAGOS

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In line with its commitment to environmental sustainability and responsible business practices, Zenith Bank Plc has commemorated the 2026 World Environment Day with a two-phase environmental clean-up initiative in Lagos State, held under the global theme “Inspired by Nature. For Climate. For Our Future.”

The first phase was a morning clean-up conducted by staff of the Bank on Wednesday, 3 June 2026, along Ajose Adeogun Street, Victoria Island, Lagos. The exercise mobilised employees to clear waste, sensitise residents on proper disposal practices, and reinforce the Bank’s culture of community service and environmental stewardship.

The second phase, on Thursday, 4 June 2026, featured a waterways clean-up at the Falomo Waterways, Ikoyi, Lagos, executed in collaboration with the Lagos Waste Management Authority (LAWMA) and the Lagos State Waterways Authority (LASWA). The joint effort focused on removing marine debris, promoting cleaner waterways, and supporting the State’s broader climate-resilience agenda.

Speaking on the initiative, Dame Dr. Adaora Umeoji, OON, Group Managing Director/CEO of Zenith Bank Plc, said: “At Zenith Bank, sustainability is integral to how we operate. Clearing our streets and our waterways is a practical reminder that protecting the environment is a shared responsibility – and one we are proud to take up alongside LAWMA and LASWA. Through these exercises, we are taking deliberate action to preserve our communities, support climate action, and inspire others to act. Our operations will continue to align with global environmental standards as we build a more sustainable future for Nigeria and Africa.”Zenith Bank remains committed to embedding Environmental, Social and Governance (ESG) principles across its operations, investing in green initiatives, energy efficiency, and community-focused programmes. These efforts advance the United Nations Sustainable Development Goals – particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action). Sustainability remains an operational imperative across the Bank’s Nigerian base and its broader African, UK and European footprints.

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ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING

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Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of Directors. The appointment, which takes immediate effect, has been approved by the Central Bank of Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory compliance, and strategic oversight for which Zenith Bank is widely respected. He joined the Board of Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as Chairman of the Board Risk Management Committee until his appointment as Chairman of the Board of Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations, and a proven track record in strategic oversight and organisational growth. He has consistently demonstrated integrity, independence and sound judgement, qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more than four decades across the public and private sectors of the Nigerian economy. He served as Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo, GCFR, where he led the development of Nigeria’s WTO-consistent Trade Policy. He also oversaw the Corporate Affairs Commission (CAC) online project of 2002, which modernised the way businesses register and operate in the country. From November 2003 to February 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where he was instrumental in attracting foreign direct investment into Nigeria, building multilateral and bilateral partnerships, and representing the Federal Government at international conferences and missions.

He graduated from Ahmadu Bello University (ABU), Zaria, in 1978 with a B.Engr. in Civil Engineering (Second Class Upper Division), winning the Shell Prize for the best project and thesis in the Faculty of Engineering. He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.

He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian economy, and has previously served on the boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations across Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia and Côte d’Ivoire.

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FirstBank Confirms Appointment of Olayinka Ijabiyi as Group Head, Marketing and Corporate Communications

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FirstBank, West Africa’s premier financial institution and financial inclusion service provider, has confirmed the appointment of Olayinka Ijabiyi as the substantive Group Head, Marketing and Corporate Communications. The appointment takes immediate effect and reinforces strong corporate governance at a pivotal point in the Bank’s growth and transformation journey.

Olayinka Thomas Ijabiyi is a seasoned marketing and corporate communications professional with over 25 years of experience driving brand transformation, strategic visibility, and stakeholder engagement across financial services, telecommunications, media, and international development sectors.

Ijabiyi joined FirstBank in 2011 and has served in acting capacity as the Group Head of Marketing and Corporate Communications from December 2024 until his recent confirmation. In his role, he leads the development and execution of integrated marketing and corporate communications strategies across the Group’s markets. He oversees brand and reputation management, executive positioning, Corporate Responsibility and Sustainability as well as strategic communications initiatives aligned to the Bank’s business objectives/aspirations.

Prior to his current role, Ijabiyi has held leadership positions within the Marketing and Corporate Communications Department in FirstBank, including Head Brand Strategy and Special Projects, Head Digital Marketing and Head Brand and Stakeholder Management. 

Before joining FirstBank, Ijabiyi built a diverse career across leading organizations including British Council, Multichoice, MTN and Etisalat Nigeria, where he played key roles in brand building, corporate communications and digital transformation initiatives.

Widely recognized for his strategic mindset, leadership ability to translate business objectives into impactful marketing and communications strategies, he has successfully led major brand initiatives, including milestone anniversary campaigns and brand refresh programs, while consistently delivering efficiencies and enhancing brand equity.

Ijabiyi holds a Master’s degree in Public and International Affairs from the University of Lagos and a Bachelor’s degree in English Language from the former Ondo State University, Ado Ekiti. He is a Fellow of the National Institute of Marketing of Nigeria (NIMN) and a member of the Nigerian Institute of Public Relations (NIPR), amongst other industry bodies.

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