FCMB Takes Top Spot as Nigeria’s Leading SME Bank
Atume Terfa
First City Monument Bank (FCMB) has been officially named Nigeria’s Best SME Focused Bank for 2025, earning recognition from the Chartered Institute of Bankers of Nigeria (CIBN) for its unwavering support of the country’s small- and medium-sized enterprises. The announcement came at the 60th Annual Bankers Dinner in Lagos on 28 November, an event that brought together top banking executives and key industry stakeholders.
FCMB’s triumph is backed by impressive figures: the bank accounted for 24% of Nigeria’s ₦1.8 trillion total SME lending in 2024, a testament to its dominant role in financing the nation’s entrepreneurial ecosystem. But the award goes beyond numbers. By strategically channelling capital into vital sectors such as agriculture, trade, telecoms, real estate, and food and beverages, FCMB has cemented SMEs as the cornerstone of its lending strategy, recognising their central role in driving economic growth.
The bank’s approach goes further than providing credit. Through training programs, advisory services, and strategic partnerships, FCMB equips SME owners with the tools to navigate business challenges, scale operations, and achieve long-term sustainability — a holistic approach that industry observers say set it apart from competitors.
Accepting the award on behalf of FCMB, Executive Director of Wholesale Banking, Obaro Odeghe, described the recognition as validation of the bank’s mission to empower entrepreneurs nationwide. He emphasised that accessible finance, modern banking technology, and expert guidance remain at the heart of FCMB’s SME-focused strategy.
For Nigeria’s SME community, the accolade represents more than a trophy. It signals a renewed commitment from one of the country’s leading banks to support growth, inclusion, and long-term development — providing a lifeline to small businesses that drive innovation, create jobs, and energise the nation’s economy.
