FirstBank Group has commenced the construction of its new head office at Eko Atlantic City, a landmark project set to redefine Nigeria’s financial skyline. 

The groundbreaking ceremony, held on Wednesday, was led by FirstBank’s CEO, Olusegun Alebiosu, and attended by Vice President Kashim Shettima, Lagos State Governor Babajide Sanwo-Olu, top government officials, business leaders, and other key stakeholders.

During the event, President Bola Tinubu and Lagos State Governor, Babajide Sanwo-Olu lauded FirstBank’s management for establishing the new headquarters, a demonstration of its leadership position in the market.

President Tinubu, who was represented at the event by Vice President, Kashim Shettima, said the new headquarters of the bank is a demonstration of the foresight and quality leadership of its management, reiterating government’s commitment to fostering conducive environment for businesses to thrive.

He congratulated the bank’s leadership for the milestone achievement, assuring them that government will continue to take steps needed to ensure that businesses achieve their goals within the economy.

On his part, Sanwo-Olu described the new headquarters as an investment that will change the face of Lagos for good. He also gave the bank’s management the certificate of approval to commence construction immediately.

He said, “FirstBank, as always, has taken the lead. I want to thank the visionaries who have created a new city that will serve as Africa’s model city — one we will all be proud of. Mr Femi Otedola, well done. Well done to your board and well done to your management. CBN Governor, thank you for the approval. We hope you extend similar approvals to other financial institutions, as there is space for them too,” he stated.

Sanwo-Olu said that the new headquarters will continue to present FirstBank as a market leader, ad reinforce its commitment to meeting customers needs.

He said the Eko Atlantic vision, began during President Bola Tinubu’s tenure as Lagos State Governor.

 He encouraged more banks and other businesses to key into the Eko Atlantic vision and get a space for their operations.

Speaking at the event, Alebiosu described the project as more than just an architectural masterpiece, but a bold step towards redefining banking for future generations.

 He emphasised FirstBank’s unwavering legacy, dating back to its establishment in 1894, and its commitment to financial inclusion, innovation, and operational excellence.

“This moment signifies more than just the construction of a building; it is the beginning of a new chapter in our enduring legacy, a legacy that has stood the test of time for over 13 decades,” Alebiosu said. 

“The new FirstBank head office will be a hub for financial innovation, digital transformation, and excellence, ensuring that FirstBank remains at the forefront of the banking sector.”

The ultra-modern headquarters, a 40-story skyscraper, is poised to become Nigeria’s and West Africa’s tallest building upon completion. Located at the heart of Eko Atlantic City, the edifice will not only be a symbol of FirstBank’s resilience but will also contribute to Lagos’ status as Africa’s leading financial hub.

Governor Babajide Sanwo-Olu commended FirstBank for its role in Nigeria’s economic growth, reaffirming the state government’s commitment to creating an enabling environment for businesses. Vice President Shettima lauded the bank’s efforts in fostering financial development and innovation in Nigeria.

The event also saw acknowledgments to the Central Bank of Nigeria, regulatory agencies, and construction partners, whose support has been instrumental in bringing the ambitious project to life.

As FirstBank breaks new ground, Alebiosu reaffirmed the bank’s dedication to shaping the future of banking in Nigeria and beyond. “This structure will stand as a beacon of our heritage and our commitment to a future of greater impact,” he stated.

With construction now underway, FirstBank’s new headquarters is expected to further strengthen its legacy as a pillar of Nigeria’s financial sector while contributing to urban development and economic growth in Africa.