Top Nigerian bank set to change name

First Bank of Nigeria (FBN) Holdings Plc has announced a major rebranding initiative, with plans to change its corporate name to First Holdco Plc.

The decision, which follows approval from shareholders, was finalized during the company’s 12th Annual General Meeting (AGM), held virtually on Thursday.

As part of the rebranding, all subsidiaries under the FBN Holdings umbrella will also adopt the new corporate identity, aligning their names with the updated brand. This strategic move is aimed at reflecting the company’s evolving structure and broader financial and operational scope.

In addition to the name change, FBN Holdings plans to amend its Memorandum and Articles of Association to incorporate the new brand identity, as well as an updated share capital structure. The company believes these changes will enhance its market positioning and streamline its corporate governance framework.

In a statement, FBN Holdings outlined the resolutions passed during the AGM: “The change of the legal and brand names of the company from FBN Holdings Plc and FBNHoldings to First Holdco Plc and FirstHoldco, respectively, is approved. This change will also extend to the subsidiaries of FBN Holdings Plc.”

The statement continued, “The directors are hereby authorized to perform all acts necessary to effect the changes, including complying with the directives of any regulatory authority. Following the completion of the name change, share capital increase, and allotment of new shares, the company’s Memorandum and Articles of Association will be amended accordingly.”

With this rebranding effort, First Holdco Plc aims to position itself as a more integrated and forward-looking financial services group in an increasingly competitive market.