FCMB Reaffirms Growth Drive, Supports Lekki Irele Tower Project

The Managing Director of First City Monument Bank (FCMB), Yemisi Edun, has reaffirmed the bank’s readiness to support economic growth following its recent recapitalisation.

Speaking on the development of the nine-storey EDGE-certified Irele Tower by the International Finance Corporation (IFC), Edun said FCMB’s early backing of the project underscores its confidence in the long-term potential of the Lagos Free Trade Zone.

She noted that Irele Tower reflects a model of coordinated financing and development, adding that the project will significantly boost office capacity along the Lekki corridor.

Additionally, Adesuwa Ladoja, Managing Director of Lagos Free Zone Company, noted that the tower aligns with the zone’s vision of creating an integrated business ecosystem driven by infrastructure, strategic location, and efficient logistics.

According to her, demand for high-quality and efficient workspaces has continued to rise, fueled by growing investor interest in the Lekki axis.

LEADERSHIP reports that the nine-storey development will deliver approximately 12,000 square metres of office and retail space within the zone, strengthening the Lagos Free Trade Zone’s capacity to meet increasing demand from both local and international firms seeking proximity to ports, logistics hubs, and industrial infrastructure.

The building is designed with sustainability in mind, consuming about 26 per cent less energy and 46 per cent less water compared to conventional structures. It also incorporates features that enhance indoor environmental quality for occupants.

As the Lagos Free Trade Zone continues to evolve into a major hub linking industry, trade, and services, the addition of Irele Tower is set to expand its commercial footprint while advancing the adoption of green building standards in the Lekki corridor.