Gov. Babajide Sanwo-Olu of Lagos State on Wednesday, March 5, 2025, approved the construction of First Bank’s 43-storey building headquarters within the Eko Atlantic City
Sanwo-Olu, while presenting the certificate of approval to First Bank, commended the effort of the management of the bank toward sustaining the bank’s legacy over the years.
He gave the commendation during the groundbreaking ceremony of the First Bank’s 43-storey headquarters performed by Vice President Kashim Shettima.
The governor appreciated Mr. Gilbert Chagoury and his brother, Mr. Ronald Chagoury, owners of Eko Atlantic City, for the transformative role they played in developing the city.
He invited other financial institutions to emulate what First Bank had done while promising thqt the state government would continue to create the right environment for businesses to thrive.
“We want to see the tower on a month-on-month rising out of the sun of the aquatic city. I will be presenting the certificate of approval for the bank to begin the construction of the 43-storey building.
“I invite the Managing Director of First Bank to come forward and receive the certificate, so that they know that we are doing it properly. From tomorrow, start the construction.
“We want the Chagoury brothers to give other financial institutions approval as well. If they have not bought their land.
“You will be given generous payment plan so that you can start your own development as well.
“Lagos and First Bank have had about 13 decades of relationship and I must state that this Eko Atlantic City is one of the wonders of Lagos. It is going to accommodate more corporate organisations,” he said.
Also speaking, Mr. Olusegun Alebiosu, Chief Executive Officer of First Bank Holdings, said the journey of the bank could be defined by resilience, adaptability and commitment to its customers.
He described the groundbreaking ceremony as a momentous occasion which signifies the bank’s commitment to repositioning it for the future.
“This groundbreaking ceremony is a momentous occasion for us, signifying our commitment to repositioning sturdily as ‘the’ Bank for the future.
“This new head office complex is not just about a modern architectural masterpiece; it is about reimagining banking for generations yet unborn.
“It will serve as a hub for financial innovation, digital transformation and operational excellence; ensuring that FirstBank remains ahead in an era where technology is reshaping the industry.
“The 43-storey edifice will become the tallest building in Nigeria and West Africa upon its completion.
“It will be a symbol of strength, embodying the progress we have made as an institution and reflecting our ambition to set new benchmarks in service delivery, operational efficiency and customer experience.
Mr. Femi Otedola, Chairman, Board of Directors, First Bank Holdings, said that the building represented a significant milestone in the history of Lagos and Nigeria.
He assured everyone that First Bank would continue to build a legacy to behold as it moves further to focusing on becoming customer-centric bank
He said: “I am extremely grateful to President Bola Tinubu and Gov. Babajide Sanwo-Olu for their unalloyed support for this project and for creating a conducive environment for doing business in Lagos.
“I also appreciate the Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, for his remarkable effort in maintaining the stability and growth of Nigeria’s banking industry.”
Gov. Dapo Abiodun of Ogun State promised to continue to support the bank.
“This is a bold and audacious move by First Bank. This is what tenacity does. Even with over 700 branches across the world, it stands as a financial institution with the largest network.
“This building, upon completion, can be an incubation centre for learning in the financial sector. We will continue to support First Bank, and I congratulate Odetola and Alebiosun for being dodged.”
Gov. Lucky Aiyedatiwa of Ondo State also lauded the effort of the bank.
He saluted those who had contributed to the growth of the bank since its creation in 1894, noting it had evolved to being a generational bank.
By Taiye Olayemi