FCMB Driving Inclusive Growth Through Education, Health Investments – MD

The managing director of First City Monument Bank (FCMB), Yemisi Edun, has said the bank’s support for education and primary healthcare is helping to build a more inclusive system where Nigerians can participate and thrive.

Edun made this known amid the implementation of the Human Capital Opportunities for Prosperity and Equity–Governance (HOPE-GOV) programme, a $500 million initiative driven by the Lagos State Government in partnership with the World Bank and FCMB.

The programme is designed to strengthen systems underpinning basic education and primary healthcare across the country.

“We are working with our partners to open up more opportunities for children and communities,” Edun said.

“By supporting education and primary healthcare, we are contributing to a system where more people can participate and progress.”

The programme, backed by the federal government and implemented across all 36 states and the Federal Capital Territory, focuses on improving resource management, institutional efficiency, and outcome measurement.

Unlike traditional models, funding under HOPE-GOV is tied to independently verified results rather than projections or policy intentions, reflecting a shift toward performance-based governance.

In Lagos, early signs of progress are already emerging. Governor Babajide Sanwo-Olu, speaking at a recent public presentation, highlighted improvements in education and healthcare delivery, attributing them to the state’s transition from input-driven spending to results-oriented governance.

“For us in Lagos, this is about people,” Sanwo-Olu said. “It is about ensuring that a child has access to the right learning materials, that a mother receives quality care at a primary health centre, and that public resources are managed transparently for all to see.”

Officials noted that the reforms are being driven by critical but less visible systemic changes, including strengthened procurement processes, improved funding efficiency, and stricter accountability mechanisms tied to performance benchmarks.

According to Akin Onimole, Senior Procurement Specialist at the World Bank, the HOPE-GOV programme is structured to address longstanding gaps in public service delivery. He added that Lagos has shown strong commitment to improving procurement and governance frameworks, enabling policy reforms to translate into measurable outcomes.

FCMB plays a key role in supporting the programme’s fund flow architecture, aligning with its broader mandate to expand access to finance and drive inclusive economic growth.