First City Monument Bank Named Nigeria’s Best SME-Focused Bank

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) as the bank accounted for 24 per cnet share of the banking industry’s N1.8 trillion total SME disbursement for 2024.

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 per cent), Trade (14.78 per cent), and Telecommunications (13.94 per cent), alongside Real Estate (5.43 per cent) and Food, Beverage and Tobacco (4.06 per cent).

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 said it also supports entrepreneurs through training programs, advisory services, and partnerships that help them navigate business challenges and grow sustainably.

The managing director and chief executive of the bank, Yemisi Edun, who was represented by executive director of Wholesale Banking, Obaro Odeghe, 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.”