First City Monument Bank (FCMB) has been named Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria (CIBN). This recognition comes as FCMB holds a leading 24% share of the banking industry’s ₦1.8 trillion total SME disbursement for 2024. The award was presented at the 60th Annual Bankers Dinner in Lagos, highlighting First City Monument Bank’s strong role in supporting small and medium-sized businesses.
FCMB’s financing targets the true engines of the Nigerian economy. According to the November 2024 Nigerian Gross Domestic Product Report Q3 2024, these investments align with the nation’s highest-performing sectors, including Crop Production (26.51%), Trade (14.78%), and Telecommunications (13.94%), alongside Real Estate (5.43%) and Food, Beverage and Tobacco (4.06%). The award selection was based on industry-wide lending data provided by the Central Bank of Nigeria (CBN), which monitors financial sector contributions to the enterprise ecosystem.
FCMB also supports entrepreneurs through training programs, advisory services, and partnerships that help them navigate business challenges and grow sustainably.
Yemisi Edun, First City Monument Bank’s Managing Director and CEO, was represented by Obaro Odeghe, Executive Director of Wholesale Banking at the Annual Banker’s Dinner. She said:
“We are truly honoured to be recognised by the CIBN, based on data from the Central Bank of Nigeria. This recognition affirms our purpose as an institution committed to making a meaningful difference in the lives of Nigerian entrepreneurs, who are the backbone of our economy. We will continue to support SMEs with the accessible finance, technology, and expert advice they need to grow. By strengthening these businesses, we drive productivity and contribute directly to national development.”
Chartered Institute of Bankers of Nigeria, the main professional body for bankers in Nigeria, organised the awards to showcase progress and resilience in the country’s financial sector. FCMB’s achievement was also highlighted by Tooritsemoshe Ojei, a staff member, receiving the Next Generation Class of 2025 Award for outstanding performance and leadership potential in the banking industry.
FCMB, part of FCMB Group Plc, is committed to supporting inclusive growth by connecting people, capital, and markets in Nigeria and among Nigerians abroad. This new award adds to previous honours, such as the Excellence Award for Promoting Financial Inclusion for Grassroots Entrepreneurs in Nigeria (The Mastercard Foundation), SME Financier of the Year (Africa) from the Global SME Finance Forum/IFC, and Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria from the Development Bank of Nigeria.