First City Monument Bank (FCMB) has marked a significant milestone in its expansion strategy with the inauguration of a new branch in Sangotedo, a rapidly developing community within the Eti-Osa East Local Council Development Area of Lagos, Nigeria. The official opening ceremony, held on June 26, 2025, was attended by prominent community leaders and FCMB representatives, underscoring the importance of this new establishment for both the bank and the local economy. The event heralded a new chapter of financial inclusion and economic empowerment for Sangotedo, promising enhanced access to banking services and tailored financial solutions for individuals and businesses alike. The branch, designed with sustainability in mind, represents a tangible commitment by FCMB to its customers and the broader community.
The choice of Sangotedo for this new branch reflects FCMB’s strategic focus on expanding its reach into high-growth areas with significant economic potential. Sangotedo, with its burgeoning population and increasing commercial activity, presents a ripe market for FCMB’s comprehensive suite of financial products and services. The bank’s leadership recognized the need for a physical presence in the community to better serve existing customers and attract new ones, providing convenient access to banking services that were previously less readily available. This move aligns with FCMB’s overall growth strategy and its commitment to bridging the financial inclusion gap in Nigeria.
Local leaders expressed enthusiastic support for the new branch, recognizing its potential to stimulate economic growth and development within the community. Oba Abiodun Ogunbo, the Ogudu Oshadi I of Ogombo Kingdom, represented by Chief Lukman Lawal, lauded FCMB’s long-standing commitment to supporting individuals and businesses. He expressed optimism that the new branch would act as a catalyst for economic progress, creating new opportunities for residents and fostering a more vibrant business environment. Similarly, the Olu of Sangotedo Kingdom, Oba Mohammed Olufunmi, represented by Otunba Tunde Johnson, welcomed FCMB’s investment in the community and encouraged the bank to further expand its footprint in the area. John Ogundare, Chairman of the Eti-Osa East Local Council Development Area, echoed these sentiments, viewing the branch opening as a testament to the community’s growth trajectory and urging FCMB to prioritize support for small and medium-scale enterprises (SMEs), the backbone of local economies.
FCMB’s leadership reiterated the bank’s dedication to providing inclusive and sustainable banking services to the Sangotedo community. Yemisi Edun, Managing Director/CEO of FCMB, represented by Mr. Emmanuel Comla, emphasized the bank’s commitment to empowering individuals and businesses through flexible financing options and innovative banking solutions. She highlighted the importance of bringing more people into the formal financial system, promoting financial literacy, and fostering a culture of savings and investment within the community. This commitment aligns with broader national goals of financial inclusion and economic empowerment, aiming to reduce poverty and promote sustainable development.
The new Sangotedo branch showcases FCMB’s commitment to incorporating sustainable practices in its operations. The branch is powered by renewable energy, utilizing solar power to minimize its environmental footprint and ensure uninterrupted service delivery. This initiative reflects the bank’s recognition of the increasing importance of environmental sustainability and its commitment to playing a role in mitigating the impacts of climate change. The branch also features a fully integrated digital banking ecosystem, offering customers convenient access to mobile and internet banking services, reliable ATMs, and an efficient queue management system. These features are designed to enhance the customer experience, providing seamless and efficient banking services tailored to the needs of the modern customer.
Ademola Idowu, Group Head of Operations and International Trade Services at FCMB, highlighted the bank’s dedication to providing excellent and sustainable services. The solar-powered backup system, he noted, ensures uninterrupted operations and consistent service delivery, even in the face of power outages, a common challenge in many parts of Nigeria. This commitment to reliability and customer service is crucial for building trust and fostering long-term relationships within the community. The opening of the Sangotedo branch represents a significant investment by FCMB, demonstrating its confidence in the community’s potential and its commitment to being a long-term partner in its economic growth and development. The stakeholders in Sangotedo eagerly anticipate the positive impact of FCMB’s presence, expecting improved access to financial services, increased economic activity, and enhanced opportunities for local businesses and individuals.
