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  • FirstBank, investors tackle housing deficit with single-digit mortgage scheme

    FirstBank, investors tackle housing deficit with single-digit mortgage scheme

    The FirstBank of Nigeria Limited, in partnership with the Ministry of Finance Incorporated (MOFI) and ARM Investment Managers, has unveiled a single-digit mortgage scheme aimed at tackling Nigeria’s massive housing deficit while stimulating economic growth and job creation.

    The initiative, driven by FirstBank, MOFI and ARM Investment Managers, is positioned as a major step towards affordable housing, economic empowerment and long-term wealth creation for Nigerians.

    Speaking at the rollout of the initiative in Abuja yesterday, the Managing Director and Chief Executive Officer of FirstBank, Olusegun Alebiosu, described the scheme as both an economic and social revolution that would reshape Nigeria’s housing and construction sector.

    According to Alebiosu, the social impact lies in enabling more Nigerians to own homes, thereby addressing deep-rooted housing challenges, while the economic benefits stem from offering low-interest mortgages in a high-interest-rate environment.

    He explained that the difference between borrowing at 20 per cent and at a single-digit rate over a 20-year period is enormous, effectively giving beneficiaries far greater financial leverage and long-term value. Beyond home ownership, he noted that the scheme would unlock widespread employment opportunities across the construction value chain.

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    “If we are able to originate 10,000 houses across Nigeria, the construction sector will be alive. Carpenters, bricklayers, painters and artisans of all kinds will be engaged. We can turn Nigeria into a construction site, injecting liquidity into a sector that has long suffered from limited funding,” Alebiosu said.

    He added that as mortgage holders repay monthly, the funds would be recycled to finance additional homes, creating a sustainable system capable of generating jobs and economic activity over many years.

    “With single-digit interest rates in a double-digit inflation environment, we are empowering generations. Even children who inherit these homes in the future are inheriting wealth.”

    Also speaking, the National Coordinator of the MOFI Real Estate Investment Fund (MREIF), Sani Yakubu, said the intervention differs significantly from previous government housing initiatives by being private sector-driven, transparent and structured for long-term sustainability.

    Yakubu disclosed that MREIF was recently launched on the Nigerian Exchange, with the first tranche of N250 billion jointly funded by public and private sector investors.

    The fund, he said, is supervised by the Securities and Exchange Commission, rated by independent agencies and structured as an A-grade, tradable investment.

    “The mortgages have a 20-year tenure and the fund is refinanced by the Nigerian Mortgage Refinance Company. These features clearly show that this is a long-term and sustainable programme, protected from policy reversals,” he said.

    Speaking on the expected outcomes, Yakubu noted that FirstBank’s nationwide reach and vast customer base would enable millions of Nigerians to access affordable mortgages, while boosting employment, construction activity and economic inclusion.

    He added that since commencement, MREIF has already supported over 1,100 mortgage applicants, with more transactions in the pipeline, and expressed confidence that FirstBank’s involvement would significantly scale the impact.

    He described the fund as a carefully designed vehicle created to address both demand and supply challenges in Nigeria’s housing sector.

    “With an estimated housing deficit of between 20 and 28 million units, the initiative seeks to provide affordable mortgages at about 9.75 per cent interest, with only a 10 per cent deposit and a 20-year repayment period.

    “The fund also offers off-take guarantees to developers, assuring financiers that completed houses will be matched with willing and qualified buyers. Backed by a N1 trillion programme registered with the SEC, beginning with a N250 billion tranche, the vehicle is managed transparently and designed to continuously attract private capital.”

    Explaining the choice of FirstBank as a key partner, Yakubu cited the bank’s size, reputation and extensive branch network, which he said is capable of delivering mortgage access to Nigerians across the country.

    On her part, the Managing Director of ARM Investment Managers Limited, Kai Orga, said ARM had already supported financial inclusion and home ownership through mortgage access.

    According to her, the partnership with FirstBank would accelerate scale, improve accessibility and simplify the mortgage process, with approvals now possible within four to six weeks.

  • Economy resilient despite uncertainty, says FirstBank chief

    Economy resilient despite uncertainty, says FirstBank chief

    Despite macroeconomic pressures—currency adjustments, inflationary cycles, shifting trade dynamics and global uncertainty Nigeria economy continues to demonstrate resilience, CEO FirstBank Group, Olusegun Alebiosu has said.

    Speaking at the FirstBank Nigeria Economic Outlook 2026 with theme: “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth” in Lagos, he said the there is need to position Nigeria competitively in a recalibrating global economy, understand the sectors that will drive resilient growth and how businesses and institutions build durability amid volatility.

    He said: “At FirstBank, resilience is not a slogan, it is a legacy spanning over 131 years. We have navigated cycles, supported businesses through transitions, financed ambition and stood as a stable partner to individuals, enterprises and government alike. Today, we remain deeply committed to being the institution of choice—trusted, capital-strong, digitally enabled and positioned to partner Nigeria’s next phase of growth,” he said.

    He said that looking ahead to 2026 and beyond, the opportunities before us are significant. Demographics, technology, climate imperatives, regional trade and capital flows are reshaping competitiveness. For Nigeria, success will depend on disciplined reforms, investment in human capital, scalable infrastructure and strong financial intermediation.

    “It will also depend on partnerships; between the public and private sectors, between capital and enterprise and between insight and execution. Today is therefore not about abstract diagnosis. It is about direction and decisions. The conversations here will shape strategies in boardrooms, influence investment flows and inform policy and business choices in the months ahead,” he said.

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    Continuing, he said FirstBank, believes that informed decisions are the foundation of sustainable progress.

    “That belief underpins this platform and our broader role in the economy. We are proud to convene leading economists and researchers, industry leaders, digital and technology experts, as well as policy and strategic thinkers who will provide practical insight, challenge assumptions and illuminate the road ahead,” he said.

    Other speakers also gave insights on their expectations on the domestic economy. 

    The keynote speaker, Group Chief Economist & Managing Director of Research & Trade Intelligence, Afrexim Bank, Yemi Kale, said falling inflation numbers, gradual monetary easing, improved external reserves and managed FX flexibility are indicators of macroeconomic stabilization.

    He also listed infrastructure gaps, energy constraints, skills mismatch and security and governance risks as indicators of structural challenges in the economy.

    He advised economic managers to find ways to unlock long-term domestic capital, that would translate growth to jobs.

    He said that naira devaluation will not go away soon, adding that devaluation in naira happens every five to six years.

    He advised companies to hedge against naira devaluation through market diversification.

    Head, Treasury Sales & Derivatives Marketing, FirstBank, Ayokunle Ojo, spoke on the need for companies to build strong cash flows that will make their operations resilient.

    He also spoke on the need for compliance and also found ways to navigate the uncertainty in today’s energy world.

    Also speaking, Managing Partner, Verrak, Niyi Yusuf, said companies should focus on their core competent areas, and provide quality services to sustain their market control.

    Head, Equities and Alternative Solutions, First Asset Management, Laura Fisayo-Kolawole, said the domestic economy is currently benefiting from disinflation, which makes the investment climate profitable to investors.

  • FirstBank meets N500 billion regulatory capital requirement

    FirstBank meets N500 billion regulatory capital requirement

    First HoldCo Plc yesterday announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion.

    This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.

    This successful capitalisation underscores strong market confidence in FirstHoldCo Group’s business model, long-term strategy, and growth prospects. With a fortified capital base, FirstBank is positioned to accelerate its support for the real sector, enhance financial inclusion, and deliver innovative, digitally driven customer experiences.

    The recapitalisation strengthens the Group’s overall financial resilience, providing a robust platform for earnings growth through business expansion, technological innovation, and the pursuit of new opportunities.

    Read Also: FirstBank successfully completes N500b capital raise

    In March 2024, the CBN directed commercial banks to raise their capital base to a minimum of N500 billion within a 24-month period to bolster the Nigerian banking sector’s stability and capacity. FirstBank has now fulfilled this requirement well ahead of the regulatory deadline.

    In a related development, FirstHoldCo have expressed its desire to raise fresh funding and inject additional capital into the Group’s existing subsidiaries and new business adjacencies in 2026. This forward-looking commitment is aimed at further enhancing service offerings and facilitating strategic expansion.

    Commenting on the achievement, , Chairman of First HoldCo Plc, Mr. Femi Otedola, said: “On behalf of the Board, I extend our profound gratitude to our shareholders for their trust and unwavering support throughout this capitalisation programme. From the oversubscribed Rights Issue to the seamless Private Placement, investors have demonstrated resounding confidence in our strategic direction. Securing FirstBank’s capital base ahead of schedule is a testament to our collective commitment and positions us firmly for our next growth phase. We also appreciate the professional guidance of the CBN and SEC throughout this process.”

    Group Managing Director of First HoldCo Plc, Mr. Wale Oyedeji, added: “This successful capital raise is a pivotal milestone for FirstHoldCo. It provides us with the financial strength to execute our core strategic priorities: driving innovation, delivering superior customer value, and enhancing sustainable profitability. With this solid foundation, we are focused on accelerating performance, improving competitive returns, and delivering lasting value to all our stakeholders.”

  • FirstBank to equip customers for 2026 with economic outlook

    FirstBank to equip customers for 2026 with economic outlook

    FirstBank, West Africa’s premier financial institution and financial inclusion service provider has announced the Nigeria Economic Outlook 2026 scheduled to hold on Tuesday, 6 January 2025. The theme of the session is “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth”

    Nigeria Economic Outlook is an annual customer-facing session which sets the tone on prevailing economic realities, equipping FirstBank customers with insights to navigate the economy effectively at the start of the year. The 2026 edition will review Nigeria’s economic landscape over the past year, provide an outlook for 2026, and deliver expert perspectives on global and domestic trends and their implications for the nation’s economy in the year ahead.

    Commenting ahead of the event, the Acting Group Head, Marketing & Corporate Communications at FirstBank, Olayinka Ijabiyi said, “FirstBank remains dedicated to supporting the growth and development of Nigerian businesses and individuals, and this event is a testament to that commitment.

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    As we welcome the new year, the Nigeria Economic Outlook 2025 will serve as a platform for our customers and stakeholders to learn how to navigate the complexities of Nigeria’s economic landscape in 2026. This initiative aims to help them make informed decisions based on expert recommendations and insights garnered from the session to drive giant transformative progress, allowing both businesses and individuals to thrive in the new year.”

    The session will feature a distinguished lineup of speakers including economic analysts and industry leaders. The keynote address will be delivered by Yemi Kale, Group Chief Economist & Managing Director of Research & Trade Intelligence, Afrexim Bank.

    Following the keynote, a high-level panel discussion will feature Olusegun Zaccheaus, Chief Economist, PwC; Francis Anatogu, Chief Executive Transaharan; Professor Bongo Adi, Professor of Economics & Data Analytics, Lagos Business School; Niyi Yusuf, Managing Partner, Verraki; Cheta Nwanze, Lead Partner at SBM Intelligence; Osahon Ogieva, Deputy Managing Director, FirstBank; Ayokunle Ojo, Head, Treasury Sales & Derivatives Marketing, FirstBank; and Laura Fisayo-Kolawole, Head, Equities and Alternative Solutions, First Asset Management.

    The panel discussion will be moderated by Chike Uzoma, Head, Strategy & Corporate Development, FirstBank.

  • FirstBank successfully completes N500b capital raise

    FirstBank successfully completes N500b capital raise

    • Tinubu’s deep understanding of the Nigerian economy shows in recent growth, says Otedola
    • Canvasses CBN to raise Banks’ Capital to N1tr
    • Cardoso: Best CBN Governor ever

    As someone who has spent over three decades investing, building businesses, and navigating Nigeria’s economic cycles, I rarely comment publicly on policy. But there are moments when leadership must be acknowledged.

    President Bola Ahmed Tinubu has shown remarkable courage and clarity in steering our country through difficult but necessary reforms. His bold sense of direction, guided by a deep understanding of our economy, has created the foundation for policies that are now being recognised across the world. I have seen many administrations, but his conviction at this critical time deserves commendation.

    In that same spirit of boldness, the Central Bank Governor, Mr. Yemi Cardoso, has been nothing short of exceptional. The slowdown in the rate of inflation is proof of his disciplined return to orthodox monetary policy. This is not theory; these are real results, visible in the gradual easing of pressure on households and businesses. I appreciate this because I know, from experience, how damaging policy inconsistency can be.

    His reforms in the foreign exchange market have restored confidence that had long been missing. For the first time in years, the naira is strengthening on the back of market forces not artificial fixes. To me, this is the most powerful signal that we are finally doing things the right way. The fact that our external reserves have climbed to a seven-year high above $46 billion is further evidence of his steady hand.

    I am also impressed by the bold decision to recapitalize the banking sector. Some people criticised it early on, unnecessarily in my view, but today it is clear it was the right move. Following the massive profits banks recorded in 2024, 2025 has rightly become a year of prudence and consolidation. This is the only way banks can support real sector lending and drive genuine economic growth next year.

    From where I stand, and with the benefit of many years in Nigeria’s business landscape, I believe it is time to raise the minimum capital requirement for international banking licences from N500 billion to at least N1 trillion. A modern economy aiming for the $1 trillion mark cannot rely on weakly capitalised banks. Stronger banks mean better governance, broader ownership, and institutions that are not run like personal estates, a problem we have lived with for far too long.

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    FirstBank, the commercial banking arm of First HoldCo Plc, has met the N500 billion minimum capital base required by the Central Bank of Nigeria (CBN) for an international banking licence. The shareholders of FirstHoldco are committed to injecting additional capital into its existing subsidiaries and new business adjacencies.

    I say this without hesitation: Yemi Cardoso is the best Central Bank Governor Nigeria has ever produced. His calmness, discipline, and unwavering focus on doing what is right, not what is easy, reminds me of the kind of leadership any serious economy needs.

    I encourage him to continue on this path. Nigeria is turning a corner, and those of us who believe in this country will continue to support the bold monetary reforms that are laying a stronger foundation for our future.

  • UNILAG appoints Amaechi to Samuel Asabia Professorial Chair on Business Ethics

    UNILAG appoints Amaechi to Samuel Asabia Professorial Chair on Business Ethics

    FirstBank has announced the appointment of Prof Kenneth Amaeshi as the first Occupier of the FirstBank Samuel Asabia Professorial Chair of Business Ethics at the University of Lagos (UNILAG).

    The FirstBank Samuel Asabia Professorial Chair of Business Ethics is an academic position at UNILAG, instituted in 1994 as part of the FirstBank Education Endowment programme in honour of Samuel Asabia, the first indigenous Managing Director of the Bank.

    The endowment programme was designed to fund and promote high-level research and learning projects in federal universities, selected around the six geographical regions of the country.

    The occupier of the Chair spearheads research initiatives and mentors professionals in navigating the complexities of business ethics, fostering a culture of integrity and responsible leadership.

    Prof Amaeshi brings to the role his wealth of scholarship, expertise and dedication to ethical leadership. He currently holds the Chair in Sustainable Finance and Governance at the European University Institute (EUI), Florence, Italy, and the Chair in Sustainable Business and Public Policy at the University of Edinburgh, United Kingdom. His scholarship continues to shape global conversations on responsible capitalism, governance, and Africapitalism, a philosophy that positions business as a catalyst for inclusive growth and shared prosperity.

    Speaking on the appointment, the Managing Director and Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, said: “We are delighted to welcome Professor Kenneth Amaeshi as the first occupant of the Chair of Business Ethics. His global expertise and dedication to ethical leadership align perfectly with FirstBank’s vision of fostering sustainable development and principled business practices.

    Read Also: FirstBank powers Mainland Laffs 3.0 to light up Lagos

    “This Chair is a platform to inspire generations of leaders to drive socio-economic transformation through integrity and innovation and we are confident that Professor Amaeshi’s expertise will inspire meaningful socio‑economic impact now and into the future.”

    The University of Lagos, in a statement said: “Prof Amaeshi’s appointment underscores the shared commitment of UNILAG and FirstBank to advancing scholarship, integrity, and values-driven leadership within the university community and beyond. His presence promises to inspire students, academics, and professionals to lead with ethics, vision, and purpose—from the classroom to the boardroom and into society at large.”

    Through the FirstBank Samuel Asabia Professorial Chair of Business Ethics, FirstBank and the University of Lagos are partnering to advance cutting‑edge research, impactful mentorship, and thought leadership that will shape the next generation of business leaders and define the future of sustainable finance in Nigeria and across Africa.

  • FirstBank: innovations will not lead to job loss

    FirstBank: innovations will not lead to job loss

    Chief Executive Officer of First Bank, Olusegun Alebiosu, has assured that digital innovations by the bank would not lead to loss of jobs.

    Alebiosu said innovation was for flexibility and a step toward redefining how banking connects with education, technology, and the whole community.

    He spoke at the commissioning of the FirstBank Digital Xperience Centre at the University of Benin, Benin City.

    The First Bank CEO said the partnership with UNIBEN led to creation of a hub where students, faculty and community members could access FirstBank’s digital world.

    He said the centre provided an elevated banking experience with speed and ease, designed to put the customer in control.

    He said: “This digital experience centre set up by First bank is to take banking to the next step. It is virtually everything you see in a banking hall and same service. You can do everything from account opening, change of phone number, change of email, make complaints and all others, cash withdrawal, account statement. You can deposit money in your account.

    “It will not lead to any loss of jobs. More and more people are accessing banking services but banking platforms are not expanding as fast.

    Read Also: FirstBank powers Mainland Laffs 3.0 to light up Lagos

    “This digital experience is to compliment a branch. Instead of having crowds in a banking hall and frustration and complains. People can come in here. And it is for flexibility. Banking hall can close at 4pm but this one is 24 hours operation. Students having examination do not have to worry. They can come here at any time. They can be here 12 midnight. It is for convenient and flexibility.

    “Our DXCs operate round-the-clock, including weekends, providing the convenience you need to bank anytime in just a few minutes

    “It embodies our commitment to Environmental Social and Governance (ESG) principles as it promotes financial inclusion, fosters digital literacy, and uses sustainable technology to empower underserved communities.”

    Vice Chancellor of UNIBEN, Prof Edoba Omoregie, said the institution was pleased with the centre.

    “We are excited and grateful to the bank. It is going to expand the scope of our staff and faculty. It will make our operations better. Ours is a big University and the University is pleased with the bank for bringing it here.” The VC said.

  • FirstBank powers Mainland Laffs 3.0 to light up Lagos

    FirstBank powers Mainland Laffs 3.0 to light up Lagos

    The Balmoral Convention Centre at the Sheraton in Ikeja underwent a remarkable transformation on Sunday December 7th, becoming the epicenter of Lagos Mainland’s entertainment scene as the highly anticipated Legends’ Decemba / Mainland Laffs 3.0 event unfolded. This spectacular gathering, which brought together an exhilarating blend of comedy, music, dance, and drama, successfully reaffirmed its reputation as an essential cultural highlight of the year. From the moment guests arrived, the atmosphere was charged with excitement and anticipation. Attendees were greeted by a beautifully adorned red carpet, lined with vibrant branded banners and sponsor displays, creating a glamorous entryway for the array of celebrities, entertainers, and enthusiastic guests who began arriving at 5 PM.

    The audience was treated to an impressive lineup featuring comedy royalty and high-energy musical performances. The evening was headlined by the legendary Nigerian ace comedian Ali Baba, who brought his signature blend of humor and wisdom to the stage, elevating the event’s prestige. He was accompanied by the dynamic Kenny Blaq, celebrated for his innovative approach to musical comedy, and Phronesis, who captivated the crowd with his rapid-fire, sharp-witted jokes.

    The mood of the night was expertly maintained by the charismatic host, MC Husband Material (Eze Chuwudi), whose engaging rapport with the audience ensured seamless transitions and heightened enthusiasm throughout the performances. Additional comedic talent was showcased by MC Bishop, Dr. Smile, MC Trick, Abadei, and 16 Onirun, each contributing to a relentless stream of laughter that filled the venue.

    Beyond the comedy, the event was a celebration of diverse artistic expressions. Gospel rapper Protech opened the show with an electrifying performance that infused spiritual energy into the evening, followed by CJ the Violinist, whose melodic tunes created moments of reflection and tranquility. Mauren’s Art took the stage with a breathtaking dance performance, mesmerizing the audience and encouraging moments of joy and engagement across every artistic discipline.

    The interior of the venue resonated with a positive, infectious energy. A creatively designed vendor village offered a vibrant marketplace featuring an array of local cuisine, refreshing drinks, unique fashion, and accessories, enhancing the festive atmosphere for all attendees. Inside the main hall, elegant seating arrangements ensured comfort and unobstructed views, while the professional stage, equipped with cutting-edge lighting, LED screens, and sound systems, provided a captivating backdrop for each performance.

    The flawless organization of the event was made possible through the support of First Bank Nigeria through its annual December IssaVybe lineup of events, along with backing from the Lagos State Government and LASAA. First Bank’s contributions underscored the significance and scale of this cultural extravaganza, making it a landmark event for the community and also making the December fun for its numerous customers and also making the yuletide season an extravaganza.

    Guiding the evening with charm and wit, MC Husband Material (Eze Chuwudi) kept the energy levels soaring high. The comedy segment was a showcase of both established stars and emerging talents. The crowd erupted in laughter at Kenny Blaq’s musical comedy interludes and Phronesis’s clever punchlines, while the talents of MC Smiles, Larry J, MC Trick, Abadei, and 16 Onirun ensured a varied and entertaining comedy showcase that spanned generational humor.

    As the night progressed, the entertainment spectrum expanded to include a rich tapestry of musical and artistic performances. The high-energy opening by gospel rapper Protech was followed by the soul-stirring melodies of CJ the Violinist, who captivated the audience with his unique musical interpretations. A dynamic dance performance by Mauren’s Art added another layer of depth, while artists like Oba Richie, Angelo, Switch, and Ozzy transformed the venue into a lively concert hall, energizing the crowd with their infectious tunes.

    The climax of the show arrived when Innocent Idibia, famously known as 2Baba or 2Face, graced the stage, taking the audience on a journey through nostalgic memories with his timeless hits. Despite the controversies that have occasionally surrounded him, he delivered a stunning performance that resonated deeply with fans old and new.

    As he performed, the crowd became a chorus of voices, singing along with enthusiasm to his classic songs from his debut album through to his latest releases. 2Baba’s charisma was evident as he moved among the audience, engaging with fans and soaking in the palpable love emanating from the crowd. His performance was nothing short of electrifying and served as the perfect crescendo for the evening.

    With an impressive command of the stage, 2Baba showcased why he is considered a legend in the music industry. His ability to captivate the crowd was remarkable, every note he sang, every gesture he made drew the audience in, creating a shared experience that felt intimate yet grand. Even as he neared the end of his set, the audience was reluctant to let him leave, chanting for more as they were spellbound by the magic of his music.

    2Baba’s performance was not just a concert; it was a celebration of his legacy and contributions to the Nigerian music scene. It solidified his status as an icon, one who has not only defined a genre but has also connected generations through his artistry. The night truly belonged to him, a testament to his enduring influence and the deep affection fans have for him and his work.

    As the event drew to a close, attendees left buzzing with excitement, carrying with them the vibrant memories of a night that perfectly balanced professional production with genuine talent. Mainland Laffs 3.0 proved to be more than just an entertainment event; it was a powerful celebration of community pride and a vivid showcase of the creative spirit flourishing on the Lagos Mainland.

    According to First Bank Representatives, “We supported the event because it was meticulously designed to embody the essence of community’s talent and vibrancy,”.

    “From the laughter to the music to the palpable energy in the room, it was the ultimate ‘Decemba issaVybe’ experience. We are incredibly pleased with the outcome and extend our gratitude tothe organisers, performers, and most importantly, the wonderful people of Lagos who joined in the celebration.”

  • Lagos Open winner Babatunde Oyalami: FirstBank nurturing dreams, giving hope to young golfers  

    Lagos Open winner Babatunde Oyalami: FirstBank nurturing dreams, giving hope to young golfers  

    The US Masters Golf Tournament and The Open (British Open) are widely considered the two greatest golf tournaments in the world for producing stars and making history. In Nigeria, the FirstBank Lagos Amateur Open Golf Championship is considered the greatest amateur tournament in the country producing stars, nurturing dreams, giving hopes and making history.

    Last weekend at the highbrow Ikoyi Club 1938, history was made yet again and hope given. With a gross score of 231 over 54-Holes, Babatunde Oyalami made history by winning the 64th Lagos Open. An opening 78, a second day score of 75 and a closing 78 earned him three-shot victory over the field.

    And as it has always been the case, the next step for Oyalami is pro career. “I am very happy to win this competition. I also want to say a big thank you to FirstBank for the sponsorship of Lagos Open. Winning this tournament to me is like a dream come true and I can also now say that I am ready to turn professional just as most other winners”, he said. “I want to turn professional to make my country, my state and my home town proud”, Oyalami added.       

    If the tournament was memorable for Oyalami, it was even more for 15-year old Destiny Oyero, the youngest lad on the Lagos Open field. He didn’t just participate; he made the cut to the final round and says he will be better prepared next time. “I am very happy playing this tournament. I will be here again next year better prepared. This tournament has rekindled my hope for a future career in golf”, the little Oyero said. He wasn’t alone; Lucky Onyefu from St. Mark Golf and Country Club, Otukpo is yet another lad dreaming of a future career in golf.

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    Nurtured and strengthened, some former winners are already living their dreams. Andrew Odoh is a notable name in the Nigeria golf circle and plays regularly the Sunshine Tour of South Africa. Kenyan Sam Njoroge won the 2018 edition, turn pro the following year and he’s dominating the Kenya tour. Back home, Monday Eze of Ikoyi Club is yet another. For coming top in the 18-hole round over the weekend, he earned his biggest pay cheque ever in golf, a whooping N10m.

    Trained is South Africa, Willy Gift is a great striker of the golf ball and a leading figure in the Nigerian professional golf circuit for many years.

    “The First Bank golf tournament is one of the most prestigious tournaments we have in Nigeria. Its 64 years old and that tells you about the people and the bank itself. Sponsoring this tournament for 64 years is actually intentional. They have raised champions, I am a past champion as an amateur, and they have raised more champions in this tournament after me and they will still raise more champions in this tournament because of their intentionality. Kudos to First Bank”, said the former champion in a show of appreciation.

    And the amateurs! Well, the likes of Uyi Akpata 1995 winner, Peter Eben-spiff, 2019 winner and S U Amadi five-time winner are some of the Lagos Open successful businessmen.

    Beyond golf, the leading bank reached out to Bethesda Home and School for the Blind and Pacelli School for the Blind each getting N3m cash donation.

    It’s all part of their legacy. For 64 years firstBank has deepened its commitment to the sports development through its first@sports, a platform dedicated to promoting excellence, nurturing young talents, and strengthening community engagement, the Chief Executive Officer of First bank Olusegun Alebiosu, represented by Nnaemeka Ejeh , Group Executive, Retail Banking (South) speaks of the Banks resolve.

    The amateur open championship has a long history, global ranking status, and proven track record of developing talent, solidifying its reputation as the pinnacle of amateur golf in Nigeria.

    Truly, this year’s edition was legendry and would be remembered for countless memorable moments.

  • Oyalami wins FirstBank Lagos Open Golf with three shots

    Oyalami wins FirstBank Lagos Open Golf with three shots

    Babatunde Oyalami caps a brilliant week with victory at the 64th FirstBank Lagos Amateur Open Golf Championship on Sunday, winning the tournament’s coveted trophy. Oyalami grossed 231-over 54-holes to emerge the winner. The Osun-based golfer started his game with an opening 78, a second-day score of 75, and a closing 78 for 231 total, winning by 3 shots.

    With a gross score of 324 over 54 holes, Osaze Iyare came second, beating the third-placed Ibrahim Bilya by two shots. Bilya carded an opening 84, a second day score of 75, and a closing 77 to duck in the third position.

    St. Mark Golf and Country Club, Otukpo-based, Monday Joseph was further down on the winners’ chart after grossing a total of 237, while Michael Isife from Enugu Golf Club completed the top five in the gross category.

    Happy with his performance, Oyalami, while thanking FirstBnk for the opportunity to play in the Lagos Open, said the victory has opened a way for his professional career, noting that just like most of the previous winners, he is ready to take a plunge into the elite professional cadre.

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    “I am very happy to win this competition. I also want to say a big thank you to FirstBank for the sponsorship of the Lagos Open. Winning this tournament to me is like a dream come true, and I can also now say that I am ready to turn professional just as most other winners”, he said.

    Pro Monday Eze, two-time winner of the Lagos Open, won the first prize of N10 million staked in the professional category while others got consolation prizes. Apart from the cash award to professionals, Bethesda Home and School for the Blind and Pacelli School for the Blind got N3m each donated to their schools.

    Pledging to continue to impact positively in the growth of sports across the country, the Chief Executive Officer of FirstBank, Olusegun Alebiosu, represented by Nnaemeka Ejeh, Group Executive, Retail Banking, South, says FirstBank will continue to deepen its commitment to sports development through its First@sports initiative, a platform dedicated to promoting excellence, nurturing young athletes, and strengthening community engagements.