First City Monument Bank has been named Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria, CIBN. The recognition comes on the back of FCMB’s leading 24 per cent share of the banking industry’s N1.8tn total SME disbursement for 2024.
The award, according to a statement from the bank, was presented at the 60th Annual Bankers Dinner held in Lagos recently, underscoring the bank’s prominent role in supporting small and medium-sized enterprises across the country.
According to the bank, its SME financing initiatives target the real drivers of the Nigerian economy.
Data from the Nigerian Gross Domestic Product Report for Q3 2024 show that the bank’s investment focus aligns 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).
This is along with 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, which tracks financial sector contributions to the enterprise ecosystem.
Beyond funding, FCMB said it continues to support entrepreneurs through training programmes, advisory services, and strategic partnerships aimed at helping them overcome business challenges and achieve sustainable growth.
Accepting the award on behalf of the Managing Director and Chief Executive Officer, Yemisi Edun, the bank’s Executive Director of Wholesale Banking, Obaro Odeghe, said the recognition reinforces FCMB’s commitment to strengthening the SME landscape.
“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,” Edun said.
The Chartered Institute of Bankers of Nigeria, the main professional body for bankers in the country, organised the awards to spotlight progress and resilience within the financial services sector. FCMB’s performance on the night was further highlighted when one of its staff members, Tooritsemoshe Ojei, received the Next Generation Class of 2025 Award for outstanding performance and leadership potential in the industry.
The bank said it remains committed to driving inclusive growth by connecting people, capital, and markets within Nigeria and among Nigerians abroad. The new award joins a growing list of honours received by the institution, including the Excellence Award for Promoting Financial Inclusion for Grassroots Entrepreneurs in Nigeria from the Mastercard Foundation; SME Financier of the Year (Africa) from the Global SME Finance Forum/IFC; and Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria from the Development Bank of Nigeria.
