Lagos, Nigeria – December 1, 2025 – First City Monument Bank (FCMB) has been honoured as Nigeria’s Best SME-Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria (CIBN). The prestigious award was presented at the institute’s 60th Annual Bankers’ Dinner held on November 28, 2025 in Lagos, in a ceremony that celebrated the critical contribution of small and medium-sized enterprises to the nation’s economic growth.
The high-profile event was attended by the Governor of the Central Bank of Nigeria, Olayemi Cardoso, who delivered the keynote address, alongside hundreds of banking executives, regulators, and industry stakeholders. Professor Pius Olanrewaju, President and Chairman of Council of the CIBN, presented the award to FCMB representatives, praising the bank’s outstanding leadership in SME financing and its positive impact on Nigeria’s real economy.
FCMB earned the recognition by capturing a dominant 24% share of the entire banking industry’s total ₦1.8 trillion SME loan disbursements in 2024 — equivalent to over ₦432 billion directed toward micro, small, and medium enterprises across the country. The award was determined using verified lending data submitted to and monitored by the Central Bank of Nigeria, making the honour a data-driven testament to FCMB’s market leadership.
Accepting the award on behalf of Managing Director and CEO Mrs. Yemisi Edun were Mr. Obaro Odeghe, Executive Director, Wholesale Banking, and Mrs. Felicia Obozuwa, Executive Director, Corporate Services & Service Management. Also present on stage were Mr. Johnson Chukwu, CEO of Cowry Asset Management Limited, and Professor Olanrewaju.
In her remarks delivered through Mr. Odeghe, Mrs. Edun stated:
“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 accessible finance, technology, and expert advice they need to grow. By strengthening these businesses, we drive productivity and contribute directly to national development.”
FCMB’s SME lending is strategically concentrated in Nigeria’s highest-performing economic sectors, according to the National Bureau of Statistics’ Q3 2024 GDP Report released in November 2024. The bank has channelled significant funding into:
- Crop Production (26.51% of GDP)
- Trade (14.78%)
- Telecommunications & Information Services (13.94%)
- Real Estate (5.43%)
- Food, Beverage & Tobacco (4.06%)
These sectors represent the true growth engines of the Nigerian economy, and FCMB’s targeted financing has helped thousands of businesses expand operations, adopt modern technology, improve supply chains, and create sustainable jobs.
Beyond lending, FCMB distinguishes itself through comprehensive non-financial support. The bank runs extensive capacity-building initiatives, including free digital training via its SME Academy, regular advisory clinics in partnership with SMEDAN, and specialised programmes that help entrepreneurs overcome regulatory, forex, and market-access challenges. In 2024 alone, these initiatives reached tens of thousands of business owners and contributed to measurable revenue growth for participating enterprises.
The evening also saw individual recognition for FCMB when Ms. Tooritsemoshe Ojei, a rising talent in the bank’s Wholesale Banking division, received the Next Generation Banker Class of 2025 Award for exceptional performance and leadership potential.
This latest accolade adds to FCMB’s growing list of distinguished honours in the SME and financial-inclusion space, including:
- Excellence Award for Promoting Financial Inclusion for Grassroots Entrepreneurs (The Mastercard Foundation)
- SME Financier of the Year (Africa) – Global SME Finance Forum/IFC
- Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria (Development Bank of Nigeria)
As a core subsidiary of FCMB Group Plc, the bank remains firmly committed to fostering inclusive and sustainable growth by connecting people, capital, and markets both within Nigeria and across the global Nigerian diaspora.
With plans to grow its SME portfolio to ₦600 billion by 2026 and continued investment in digital credit solutions and talent development, FCMB is positioning itself not just as a lender, but as a long-term strategic partner to Nigeria’s entrepreneurial ecosystem.
In the words of Professor Pius Olanrewaju during the ceremony, “Empowering SMEs is the surest path to shared national prosperity.” Through sustained innovation, disciplined execution, and an unwavering focus on the real economy, First City Monument Bank has firmly established itself as Nigeria’s undisputed champion of small and medium enterprise development.
