In further demonstration of its leadership position in the Nigerian banking industry, First Bank of Nigeria Ltd has once again achieved yet another milestone by being the first banking institution in Nigeria to achieve the new international certification on Business Continuity Management, ISO22301 (Societal Security: Business Continuity Management System).
ISO 22301, the world’s first international standard for Business Continuity Management (BCM), has been developed to help organizations minimize the risk of disruptions. It specifies requirements from organizations to plan, establish, implement, operate, monitor, review, maintain and continually improve a documented management system to prepare for, respond to and recover from disruptive events when they arise.
According to First Bank’s Group Managing Director/Chief Executive Officer, Bisi Onasanya the Bank’s attainment of this feat is a demonstration of its commitment to delivering sustained, consistent and exceptional services to our customers and meeting the expectations of all stakeholders even in the event of any disruptions.
“The ISO22301 Certification on Business Continuity Management was accomplished following a rigorous transition preparation, requirements implementation and review by British Standard Institute (BSI) from the BS25999 to the new international standard – ISO22301 and as such, it further underscores the fact that First Bank will uphold global best practices and continual improvement with respect to our Business Continuity Management System and thereby giving our stakeholders another reason to have unwavering confidence in their relationship with the Bank,” he said.
Onasanya added that the Bank’s customers and stakeholders are the primary beneficiaries of the BCM certification which include safety and protection of the Bank’s assets and customers’ investments, as well as the Bank’s ability to effectively respond to incidents or business disruptions and continue business operations at acceptable pre-defined levels.
In December, 2011, First Bank made history when it became the first organization in Nigeria to be awarded the BS25999 global Certification on Business Continuity Management (BCM).
This resulted in its determination to continuously maintain the best international standards possible. As part of its preparation for the new certification, the Bank sponsored thirty members of staff from the BCM core team to attend the ISO22301 Lead Auditor international training and wrote the certification examination which was passed by all attendees.
This is a demonstration of First Bank management commitment to the BCMS and the continual provision of the required resources for its continual improvement.
First Bank of Nigeria Limited is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.
First Bank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,397 ATM’s and over 9 million customer accounts. The Bank has five (5) subsidiary companies, providing a comprehensive range of financial services.