FCMB | FCMB Business Online – The institution from which the City Securities Limited bank was created was established in 1977 by Oloye Subomi Balogun, a traditional Yoruba aristocrat, the Otunba Tunwashe of Ijebu. As a private limited liability company, First City Merchant Bank was incorporated on 20 April 1982 and issued a banking license on 11 August 1983. It was the first bank without government or foreign funding to be founded in Nigeria. In 2001, after the bank’s transition to a universal bank, the name of the bank was changed from First City Merchant Bank to First City Monument Bank. FCMB changed its status from a private limited liability company to a public limited liability company on 15 July 2004 and was listed on the Nigerian Stock Exchange (NSE) on 21 December 2004, following its introduction. FCMB | FCMB Business Online
FCMB | FCMB Business Online – Both FinBank and First City Monument Bank (FCMB) reported in November 2010 that FCMB had expressed interest in acquiring shareholdings and had become a strategic investor in FinBank, another undercapitalized Nigerian commercial bank. FCMB gained a 100% shareholding in February 2012, following regulatory approval, and started incorporating Finbank into its existing operations. FCMB | FCMB Business Online
First City Monument Bank has a number of active non-bank subsidiaries that form the First City Group together with the bank. The following companies include members of the group:
- FCMB Capital Markets Limited – Investment banking & Advisory services – Lagos, Nigeria
- FCMB (United Kingdom) Limited – Investment banking – London, United Kingdom
- CSL Stockbrokers Limited – Stock brokerage services – Lagos, Nigeria
- FCMB Pensions Limited (Formerly Legacy Pension Fund Administrators) – Abuja, Nigeria
- Credit Direct Limited – Microfinance lending – Lagos, Nigeria
- FCMB Microfinance Bank
First City Monument Bank’s shares are listed on the Nigerian Stock Exchange, where they trade under the symbol FCMB. The current detailed bank shareholding, following the merger with FinBank, is not available to the public.
FCMB | FCMB Business Online – As part of the Group’s corporate structure, FCMB Group Plc (FCMB) remains committed to institutionalising corporate governance principles. It continues to ensure compliance by the Central Bank of Nigeria, the Nigerian Stock Exchange and the Securities and Exchange Commission with the implementation of corporate governance rules.
FCMB Group Plc’s Board of Directors is composed of a Chairman and nine Directors (three Executive Directors and six Non-Executive Directors) in accordance with international best practice, which requires that the number of Non-Executive Directors exceed the number of Executive Directors. There is a clear separation of responsibilities between the Chief Executive of the Group and the chairman of the board. FCMB | FCMB Business Online
In order to promote transparency in financial and non-financial reporting, the Board meets regularly to set broad policies for the Group’s business and operations and to ensure that objective and professional relationships are maintained with the Group’s auditors. Emoluments of directors and their shareholding data are disclosed in the Annual Report and Accounts of the Group. FCMB | FCMB Business Online
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FCMB | FCMB Business Online – For small business enterprises such as SMEs and other corporate organizations, FCMBOnline Business is an online service. It is an online real-time solution that allows business organizations to access their FCMB accounts 24/7, as well as to manage their finances with the help of an internet-enabled device anywhere and at any time.
- Single User.
- Multiple Users (Initiator and Authorizer).
Why Choose FCMBOnline Business?
- Transfer Funds to accounts within FCMB and to other banks
- Access to your account information anywhere, anytime
- Instant transfer within and outside FCMB
- Forex transfers
- Next Business day transfers
- Bulk transfer for salary payments/payment to suppliers etc
- Cheque book request
- Confirmation of Cheques
- Consolidated view of ALL your FCMB accounts
- Download account statements in PDF
Who is FCMBOnline Targeted at?
- Small business enterprises such as SMEs and other corporate organizations.
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