Nigerian Billionaire Femi Otedola's Fbn Rebrands To First Holdco Plc As Assets Surpass 17 Billion

Nigerian billionaire Femi Otedolas leadership has once again made its mark, this time on FBN Holdings Plc. The financial giant, one of Africas leading institutions, has announced a rebranding to First HoldCo Plc FirstHoldCo as it continues to expand. The parent company of Nigerias oldest bank, First Bank of Nigeria Limited, reported strong financial results, with gross earnings surpassing 2 billion and total assets climbing to 17.46 billion at the end of its 2024 fiscal year.

In a recent statement , the bank described the rebranding as a major step toward unifying its subsidiaries, reinforcing its heritage, and strengthening its leadership in the financial services industry. The new name reflects a future-focused vision built on a legacy of trust, resilience, innovation, and exceptional service. More than just a name change, the transformation highlights First HoldCos commitment to innovation, customer-focused solutions, and operational excellence in an evolving market.

Wale Oyedeji, Group Managing Director of First HoldCo Plc, emphasized the significance of this milestone development: This transition to First Holdco Plc is a defining moment in our history as we chart a bold course for the future. The rebranding represents more than a name change it is a renewal of our purpose, vision, and commitment to delivering world-class financial solutions to our stakeholders. It allows us to unify our identity across subsidiaries and geographies, creating a strong, cohesive brand that reflects our leadership position in Africa and sustains our global presence.

Oyedeji added that the unified brand structure will streamline operations, improve service delivery, and enhance clarity for customers. He noted that the rebranding will also position First HoldCo as a major player in international markets, helping the company leverage global opportunities while remaining a trusted partner in financial services. Ultimately, this rebranding represents our strategic foresight and determination to remain ahead of industry trends, driven by innovation and a customer-centric approach. We are not just building a brand, we are shaping a legacy, one that balances heritage with progress, tradition with transformation, and local impact with global reach.

With a history spanning over 130 years, First HoldCos rebranding includes the retention of First Bank Nigeria Limited for the flagship business and adoption of new and unified names for its other subsidiaries in the Asset Management, Capital Markets, Securities, Trusteeship and Insurance Brokerage. The group is set to implement the changes once regulatory approvals are secured, further solidifying its presence as a dynamic leader in financial services both locally and internationally.