First City Monument Bank has been recognized as Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria, following its leadership in the sector with a 24 percent share of the N1.8 trillion SME disbursements in 2024.

The accolade, awarded at the 60th Annual Bankers Dinner in Lagos, underscores FCMB’s dedication to financing and empowering small and medium-sized enterprises across the country.

The bank emphasized that its SME financing initiatives are aimed at the key contributors to Nigeria’s economy.

It highlighted that its investment focus aligns with the nation’s top-performing sectors in the third quarter of 2024, such as Crop Production (26.51 percent), Trade (14.78 percent), and Telecommunications (13.94 percent).

This also includes Real Estate (5.43 percent) and Food, Beverage, and Tobacco (4.06 percent). The award was based on industry-wide lending data from the Central Bank of Nigeria, which monitors how financial institutions support the business environment.

FCMB further mentioned that, in addition to financing, it offers entrepreneurs training, advisory services, and strategic partnerships to assist them in overcoming business obstacles and achieving sustainable growth.

While 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, stated that this recognition reinforces FCMB’s commitment to enhancing Nigeria’s SME sector.

“We are incredibly honored to receive this acknowledgment from the CIBN, based on data provided by the Central Bank of Nigeria. This recognition reinforces our mission as an institution focused on making a significant impact on the lives of Nigerian entrepreneurs, who are fundamental to our economy.

“Our support for SMEs will persist, providing them with accessible financing, technological support, and expert guidance necessary for their growth. By empowering these businesses, we enhance productivity and directly contribute to national development,” Edun explained.

The Chartered Institute of Bankers of Nigeria, the leading professional organization for bankers in the country, organized the awards to highlight advancements and resilience within the financial services sector. FCMB's notable presence at the event was further exemplified by the accolade given to one of its employees, Tooritsemoshe Ojei, who was honored with the Next Generation Class of 2025 Award for outstanding performance and leadership potential.

The bank reiterated its commitment to fostering inclusive growth by connecting individuals, capital, and markets both within Nigeria and among the diaspora.

This recent award adds to an expanding collection of accolades, 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.