First City Monument Bank

Nigerian bank

First City Monument Bank (FCMB), a member of FCMB Group Plc. It is a financial services holding company headquartered in Lagos, Nigeria.

First City Monument Bank Ltd (FCMB)
Public: NSE: FCMB
Founded20 April 1982
FounderOloye Subomi Balogun
Area served
United Kingdom
Key people
Oladipupo Jadesimi
Ladi Balogun
Group Chief Executive
Yemisi Edun
Managing Director
RevenueUS $311.1 million (NGN:127.9 billion) (2020)[1]
Total assetsUS $5 billion (NGN: 2 trillion) (2020)
Number of employees
3,610 (2020)


First City Monument Bank was established in 1977 by Oloye Subomi Balogun. It was incorporated as a private limited liability company in April 1982 and granted a banking license in August 1983.[2][3][4]


The subsidiaries of First City Monument Bank are:[5]

  1. FCMB Capital Markets Limited – Investment banking & Advisory services – Lagos, Nigeria
  2. FCMB (United Kingdom) Limited – Investment banking – London, United Kingdom
  3. CSL Stockbrokers Limited – Stock brokerage services – Lagos, Nigeria
  4. FCMB Pensions Limited (Formerly Legacy Pension Fund Administrators) – Abuja, Nigeria
  5. Credit Direct Limited – Microfinance lending – Lagos, Nigeria


  1. "Archived copy" (PDF). Archived from the original (PDF) on 2021-09-29. Retrieved 2022-06-04.{{cite web}}: CS1 maint: archived copy as title (link)
  2. Oshikoya, Temitope W.; Durosinmi-Etti, Kehinde (2019-05-28). Frontier Capital Markets and Investment Banking: Principles and Practice from Nigeria. Routledge. ISBN 978-0-429-57770-3.
  3. "IFC Invests in First City Monument Bank to Support Growth, SME Financing". Retrieved 2021-10-10.
  4. "FCMB: Balogun steps down, as Nuru takes over". Vanguard News. 2017-02-20. Retrieved 2021-10-10.
  5. "investorrelations.FIRSTCITYGROUP.COM". Retrieved 2021-10-10.