FirstBank of Nigeria opened a representative office in China to further assist in opening new business frontiers between Nigeria and China given the increasing trade flows between the two countries. The new office accentuates FirstBank's rise as an international financial services icon and will help facilitate and widen financial transactions and trade flows. FirstBank already has several banking relationships with Chinese institutions involving investments and partnerships totaling billions of dollars. The representative office will provide first-class financial services to support the Chinese business community exploring opportunities in the Nigerian market.

1. AN ADDRESS BY MR. BISI ONASANYA, GROUP MANAGING DIRECTOR/CHIEF
EXECUTIVE OFFICER, FIRST BANK OF NIGERIA PLC, AT THE COMMISSIONING
OF FIRSTBANK CHINA REPRESENTATIVE OFFICE, JUNE 22, 2010
His Excellency, Alhaji Aminu Bashir Wali, Nigerian Ambassador to China;
Members of the Diplomatic Community;
Governor, China Banking Regulatory Commission (CBRC);
Mr. Olusegun Aganga, Honourable Minister of Finance, Federal Republic of Nigeria;
Mallam Sanusi Lamido Sanusi, Governor, Central Bank of Nigeria;
The President, China-Nigeria Chamber of Commerce;
Members of the Business Community;
Valued Customers of the Bank;
Dr. Oba Otudeko, OFR, Chairman, First Bank of Nigeria Plc;
My other Colleagues on the Board of the Bank;
Mr. Wen “Danny” Duanyu, Chief Representative of FirstBank Office in China;
Gentlemen of the Press;
Distinguished Ladies & Gentlemen:
I am highly honoured to welcome you to this historic celebration. This is not only an important
milestone for us but also signifies a new era for Nigeria – Chinese relations. Judging by the
ever-increasing trade flows between our two countries, I strongly believe that our new
Representative Office will further assist in opening new business frontiers.
For more than a century now, First Bank of Nigeria Plc has evolved a rich culture of service
excellence, which has positioned it as Nigeria’s leading financial services provider. By reason of
our enduring commitment to meet the varied needs of our customers, our Bank has naturally
tailored its value-driven service and product offerings to surpass market expectations. As a
consequence, FirstBank has consistently broadened its market share, deepened its growth
margins and become an outstanding financial services group. This milestone is, therefore, an
exciting turning point in our Bank’s history, as FirstBank’s presence in China further accentuates
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2. our steady rise as an international financial services icon. FirstBank will make Nigeria and Africa
proud as a worthy ambassador to Asia.
You would recall that FirstBank already has banking relationships with Chinese institutions.
These include an MOU with Yuemei Group Company Limited, a textile manufacturing firm, with
a value of $50 million; a partnership with Shenzhen Energy Investment Co. Limited (Shenzhen
Energy Group) in the building of a 3,000 mega watts gas turbine power plant in Nigeria, worth
$2.4 billion; as well as an MOU with Guangdong Xinguang International China-Africa Investment
Limited for a $500 million investment in Ogun State, Nigeria. The Guangdong Xinguang Group’s
collaboration with FirstBank is in the areas of investment banking, project financing, business
advisory services and correspondent banking relationship. Furthermore, FirstBank also has an
MOU with China Construction Bank to cover global banking collaboration.
Considering the volume of business transactions between our two economies, and the
possibilities that have yet to unfold, it is vital that we put in place efficient mechanisms that
would promote greater partnerships. It is against this backdrop that we have decided to extend
our operations to China as well as facilitate and widen financial transactions and trade flows
between Nigeria and China.
Your Excellencies, distinguished ladies and gentlemen, over its multi-generational history,
FirstBank has continued to adapt and innovate to meet the different challenges and
opportunities presented by different generations of customers, competitors and other
stakeholders, assuring not only its longevity but also market leadership. However, we owe the
rapid internationalization of our Bank to the kind support of the monetary authorities, particularly
the Central Bank of Nigeria over the years.
Permit me to pay due respect to the Honourable Minister of Finance, Mr. Olusegun Aganga and
Our dear Governor of the Central Bank, who is incidentally my predecessor as GMD/CEO of our
great Bank, Mallam Sanusi Lamido. We would always be grateful for the invaluable support and
inspiration of the Federal Government of Nigeria, which have continued to encourage us to
explore new markets outside Nigeria.
Your Excellencies, distinguished ladies and gentlemen, those of you who have already taken
advantage of our products and services would agree with me that our Bank is remarkable for its
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3. dependability and dynamism. FirstBank also promises the safest gateway to the Nigerian
economy. We invite the Chinese business community to make use of our first-class financial
services, even as you seek to explore the vast opportunities available in the Nigerian market.
Thank you for joining us in this formal celebration of FirstBank’s operation in Beijing, the heart of
the Asian economy.
BISI ONASANYA
Group Managing Director/Chief Executive Officer
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