In a bold move that redefines the boundaries of digital banking in Nigeria, First City Monument Bank (FCMB), a flagship subsidiary of the diversified FCMB Group Plc, has officially rolled out an innovative feature on its widely used Mobile App. This groundbreaking addition empowers customers to open dedicated investment accounts and dive straight into a curated selection of mutual funds, all managed by FCMB Asset Management Limited—the Group's specialized arm for wealth creation and preservation. The launch, announced recently, is not merely an upgrade; it represents a pivotal milestone in FCMB Group's ambitious digital transformation journey, one that aims to weave together every facet of financial services into a cohesive, user-centric ecosystem.
At its core, this new in-app investment capability is designed to eliminate the traditional silos that have long separated everyday banking from sophisticated investment opportunities. Customers no longer need to navigate multiple platforms, endure lengthy paperwork, or seek out separate financial advisors to grow their money. With just a few taps on the FCMB Mobile App, users can transition effortlessly from checking account balances and making payments to allocating funds into professionally managed mutual funds. This seamless integration underscores FCMB's vision of a full-service financial super-app, where banking, payments, savings, and investments coexist harmoniously, empowering individuals to take control of their financial destinies without friction or complexity.
The mutual funds now accessible directly through the app span a diverse spectrum, meticulously tailored to accommodate varying risk tolerances, investment horizons, and financial objectives. For those prioritizing safety and liquidity, the Legacy Money Market Fund stands out as a low-risk haven, focusing on short-term instruments that provide stable returns while preserving capital—ideal for emergency funds or parking surplus cash. Investors with a growth mindset can opt for the Legacy Equity Fund, which targets long-term capital appreciation by channeling resources into a portfolio of high-potential equities, riding the waves of market upsides while benefiting from expert diversification.
For those seeking steady income streams with moderate risk, the Legacy Debt Fund offers a predominantly local-currency bond-focused strategy, investing in government and corporate debt securities denominated in Nigerian Naira to generate reliable yields. Rounding out the quartet is the Legacy USD Bond Fund, a dollar-denominated option that appeals to customers looking to hedge against currency fluctuations or tap into international fixed-income opportunities. This fund provides exposure to USD-based bonds, offering a buffer in volatile economic climates and catering to expatriates, importers, or anyone with dollar-linked financial goals.
Yemisi Edun, the Managing Director of First City Monument Bank, eloquently captured the essence of this innovation during the launch announcement. "What we are building goes beyond digital convenience," she stated. "It is about creating a connected ecosystem where banking, payments, and investments work together to serve customers' broader financial needs. First City Monument Bank (FCMB), a subsidiary of FCMB Group Plc, has launched a new feature on its Mobile App that allows customers to open investment accounts and invest directly in mutual funds managed by FCMB Asset Management, the Group's wealth creation arm.
This development marks another significant step in FCMB Group's ongoing digital transformation, a strategy focused on integrating all its business verticals into a single, full-service financial ecosystem that empowers customers to bank, invest, and grow wealth seamlessly.
With the new in-app investment feature, customers can now access FCMB Asset Management's range of mutual funds — including the low-risk Legacy Money Market Fund, the growth-oriented Legacy Equity Fund, the predominantly local-currency bond-holding Legacy Debt Fund, and the Legacy USD Bond Fund for dollar-denominated investments. These options cater to different risk appetites and financial goals, from short-term liquidity to long-term capital appreciation or steady income generation.
Yemisi Edun, Managing Director, First City Monument Bank, said:
"What we are building goes beyond digital convenience. It is about creating a connected ecosystem where banking, payments, and investments work together to serve customers' broader financial needs. By integrating mutual funds into the FCMB Mobile App, we extend that ecosystem, enabling customers to move seamlessly from saving to investing within one trusted platform."
Commenting, James Ilori, Chief Executive Officer, FCMB Asset Management Limited, said:
"Our mission is to democratise access to investment opportunities and make wealth creation simple and inclusive. By bringing mutual funds to the FCMB Mobile App, we enable anyone, anywhere, to start investing confidently and build sustainable financial futures."
The integration of mutual fund services into the FCMB Mobile App aligns with FCMB Group's broader goal of creating a digitally inclusive financial ecosystem that connects banking, investment, and asset management under one trusted platform to drive long-term value for individuals and communities.
Customers can download or update the FCMB Mobile App from the Google Play Store or Apple App Store today to begin investing.
About FCMB Group
FCMB Group Plc is a leading financial services holding company with subsidiaries in banking, consumer finance, asset management, and other financial services.
About FCMB Asset Management
FCMB Asset Management Limited (FCMBAM), a subsidiary of FCMB Group, is licensed by the Securities and Exchange Commission (SEC) of Nigeria. It offers portfolio management and investment advisory services to individual and institutional clients. By integrating mutual funds into the FCMB Mobile App, we extend that ecosystem, enabling customers to move seamlessly from saving to investing within one trusted platform." Her words highlight a strategic pivot toward holistic financial empowerment, where technology serves as the bridge between routine transactions and aspirational wealth-building.
Echoing this sentiment, James Ilori, Chief Executive Officer of FCMB Asset Management Limited, emphasized the democratizing potential of the feature. "Our mission is to democratise access to investment opportunities and make wealth creation simple and inclusive," Ilori declared. "By bringing mutual funds to the FCMB Mobile App, we enable anyone, anywhere, to start investing confidently and build sustainable financial futures." This inclusive approach is particularly resonant in Nigeria's evolving financial landscape, where a growing middle class and tech-savvy youth are eager for accessible pathways to financial independence, yet often deterred by barriers like minimum investment thresholds, complex processes, or lack of awareness.
The broader implications of this launch extend far beyond individual users. By embedding asset management services into the core banking app, FCMB Group is fostering a digitally inclusive ecosystem that not only connects banking with investment but also integrates asset management under a single, reliable umbrella. This convergence is poised to drive long-term value creation for individuals, families, and entire communities. For instance, small business owners can now redirect profits from daily operations into mutual funds for future expansion, while salaried employees can automate investments from their payroll deposits, compounding wealth over time without disrupting cash flow.
This initiative aligns seamlessly with FCMB Group's overarching digital strategy, which has been in motion for several years. The Group has consistently invested in cutting-edge technology to streamline operations, enhance security, and personalize user experiences. Previous enhancements to the Mobile App have included instant account opening, biometric authentication, QR code payments, and real-time transaction alerts. The addition of mutual fund investments elevates the app from a transactional tool to a comprehensive wealth management hub, competing directly with fintech disruptors while leveraging the trust and regulatory compliance of a established bank.
From a regulatory standpoint, the mutual funds are overseen by FCMB Asset Management, which holds a full license from Nigeria's Securities and Exchange Commission (SEC). This ensures that all investments adhere to stringent governance standards, with transparent reporting, risk disclosures, and professional fund management. Customers benefit from diversified portfolios curated by seasoned experts, mitigating the pitfalls of self-directed investing in volatile markets.
Getting started is straightforward and immediate. Existing FCMB customers can simply update their Mobile App via the Google Play Store for Android devices or the Apple App Store for iOS users. New users are encouraged to download the app, complete a quick onboarding process—including KYC verification—and explore the investment section. Minimum investment amounts are kept accessible to encourage broad participation, with options for one-time lumpsum contributions or recurring sip-like deductions. The app provides educational resources, performance trackers, and portfolio analytics to help users make informed decisions.
To provide context, FCMB Group Plc stands as one of Nigeria's premier financial services holding companies. Its portfolio encompasses commercial banking through FCMB, consumer finance solutions, asset management via FCMBAM, and a suite of ancillary services. This diversified structure allows the Group to offer end-to-end financial products, from microloans for entrepreneurs to pension fund administration for corporations.
FCMB Asset Management Limited, in particular, plays a crucial role in this ecosystem. As an SEC-licensed entity under the FCMB umbrella, it specializes in portfolio management and bespoke investment advisory for both retail and institutional clients. With a track record of navigating Nigeria's economic cycles—from inflationary pressures to currency reforms—FCMBAM has built a reputation for prudent, yield-focused strategies that prioritize client outcomes.
In an era where digital adoption is accelerating across Africa, FCMB's in-app investment feature sets a new benchmark for innovation in the banking sector. It addresses key pain points: the intimidation factor of investing, the fragmentation of financial services, and the opportunity cost of idle funds in low-yield savings accounts. By making mutual funds as easy as sending money to a friend, FCMB is not just enhancing its app; it's cultivating a culture of proactive wealth management among Nigerians.
Looking ahead, this launch could pave the way for further integrations, such as insurance products, pension contributions, or even cryptocurrency exposure—subject to regulatory approvals. For now, it delivers tangible value: lower entry barriers, reduced costs (no intermediary fees), and the convenience of managing everything in one secure environment protected by bank-grade encryption.
In summary, FCMB's new Mobile App investment feature is more than a tech upgrade—it's a catalyst for financial inclusion and empowerment. Whether you're a cautious saver dipping toes into money markets or an ambitious investor chasing equity growth, the tools are now at your fingertips. Download or update the FCMB Mobile App today, and step into a future where banking and investing are indistinguishable in their simplicity and synergy. With FCMB Group leading the charge, the path to sustainable wealth creation has never been more accessible or integrated.
