Another shot in the arm for Adeduntan as FirstBank wins Global Banking and Finance’s Retail Banking CEO Award

While the age-old saying and philosophy of virtue being its own reward (or seeing doing
good as its own reward) remains a strong motivating factor in doing good persistently, it
helps when virtue gets recognition from time to time.

Even though anyone or organisation
committed to doing good will keep doing so with or without recognition, recognitions for
virtue tend to act like a shot in the arm for such people or organisations, spurring them to
commit even more to doing good.
That is what the recent award of “Retail Banking CEO of the Year Nigeria” to Dr Adesola
Adeduntan, CEO of First Bank of Nigeria Limited, is to both him and the bank he leads. It is
a shot in the arm of this foremost CEO of Nigeria’s most enduring financial institution that is
also the pioneer in retail banking development in Nigeria, the premier bank in West Africa
and the leading financial inclusion services provider in Nigeria for over 127 years, to keep
steering the bank in the right direction, energising and expanding retail opportunities for all
Nigerians in the process. It is a well-deserved recognition for a man and the institution he
leads that would rather keep off the spotlight and focus exclusively on attending to Nigerians’
banking needs as best as they can – which is what has kept them going for 127 years and
counting.
This critical role is one FirstBank is better suited to lead than any other lender given the
robust retail banking framework that the bank has in place, that is riding on its innovative
technology-driven operations, over 750 branches across the continents and 100,000
Firstmonie Agent banking network spread across 772 local government areas in Nigeria. It is
little wonder that FirstBank, which is intricately woven into the fabric of the Nigerian society,
has been an essential player in the retail space, empowering Nigerians of all walks of life by
providing them bespoke and innovative financial products and services that address their
multidimensional needs. The bank has been at the forefront of bridging the financial
exclusion gap and enabling customers and the general public to carry out both individual and
corporate financial activities which contribute to the growth and development of the national
economy.
The award by Global Banking and Finance Magazine, according to Dr Adeduntan, “speak[s]
to the investments we [as FirstBank] have made over the past years in…enhancing financial
inclusion….” It is a loud testament to the incredible strides FirstBank has made and
continues to make in the retail space under the able and dynamic leadership of the
management team led by Dr Adeduntan.
The strides are in turn underpinned by the bank’s resolute commitment to putting the
customer and other stakeholders at the heart of its business. Dr Adeduntan reiterates this
view when he wasted no time in dedicating the award to all the bank’s “customers, as the
trust they reposed in us being their bank of first choice in meeting their business and
financial needs has been instrumental to the success we have achieved in our existence of
over 127 years.” “We remain committed,” he continued, “to putting you, our customers, first
as we contribute to the growth and development of our host communities.”
Organised to identify the banks across the world that have excelled across a number of
areas, including corporate governance, sustainability and innovation, and have played a key
role in the industry's growth, the Global Banking and Finance Awards reflect the innovation,
achievement, strategy, progressive and inspirational changes taking place within the global
financial community. The awards were created to accord recognition to companies of all
sizes which are prominent in their areas of expertise and excellence within the financial
world. For Dr Adeduntan and FirstBank, the award is further proof of FirstBank’s enduring
commitment to providing excellent retail banking services to all its customers as reflected in

the bank’s strategic vision, diverse and inclusive workforce and performance-oriented
organisational structure.