Now in its fourth season, the series aims to improve the understanding of the concept of estate planning so individuals can learn how to identify opportunities, secure their future, and transfer these assets seamlessly to their preferred beneficiaries across generations.

Hosted on radio by Mofoluke Keshinro, one of the two certified Trust and Estate Practitioners (TEP) in Nigeria and Head, Private Trusts at FBN Trustees, the programme will deconstruct the key considerations for managing your estate plans in line with global best practice.

This season will cover discussions on estate administration, executorship, succession planning for family businesses, Islam and common laws on estate planning, and wealth transfer principles that require further clarification. The FBN Trustees Legacy Series draws from real life experiences, describes scenarios, and proffers solutions to life issues flowing from such analyses.

According to Mofoluke, “FBN Trustees has remained one of the leading Trust service providers in Nigeria for more than 30 years, building on the heritage of FBN Holdings Plc”.

“We see the current knowledge gap as a disturbing trend, and through the Legacy Series, we seek to bridge this age-long deficiency. We will bring our vast experience to bear in enlightening people about the benefits of taking the right step, and answer any lingering questions that may be holding them back from taking action” she added.

The Series features as a column in the Punch newspapers and online. It also runs as an interactive programme on Classic FM Lagos on Mondays at 7 pm, with repeat broadcasts on Cool FM Abuja on Tuesdays at 8.30am, and fortnightly on Smooth FM Lagos on Wednesdays at 8.15pm.

Listeners and followers will have the opportunity to ask questions which will be answered on the radio programme or via the online platforms throughout the course of the campaign.

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The firm was recognised as the ‘Best Asset Manager in Nigeria’ in the prestigious Euromoney Private Banking and Wealth Management Survey; and also won awards for ‘Best Structured Finance House in Africa’ at the EMEAFinance Achievement Awards; and ‘Best Investment Bank in Nigeria’ at the Global Finance Awards for several successfully delivered transactions in 2016.

Commenting on the development, Margaret Baale. Ag. Managing Director of FBN Capital stated, “We are pleased to have commenced the year on such a high note by winning these prestigious awards.

“We are always humbled by credible recognition because we know they are the result of true teamwork and a commitment to excellence. We are proud to share these with our partners, and remain grateful to them for being the inspiration behind the opportunities we deliver.” she added.

The prestigious Euromoney Private Banking and Wealth Management Survey is the industry’s leading barometer of the world’s best service and product providers.

The survey covers 15 different product and client categories and has ranking results in 70 countries, in which FBN Capital Asset Management emerged number one in Nigeria.

FBN Capital also won the EMEAFinance award for the Best Structured Finance House in Africa for the Neconde Energy Limited Senior Secured Medium term facility deal in which the company acted as the structuring and Financial Modelling Bank and one of the lead arrangers.

The EMEAFinance awards exemplify the innovative work-taking place in each region’s capital market.

The Global Finance Awards seek to reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community.

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The theme of this year’s event ‘An economy at a crossroads: thriving in the face of new realities’ will be explored through a combination of presentations and interactive sessions with some of the foremost reformers in government, business leaders and senior executives in both the public and private sectors of the economy.

Through the conference, FBN Capital aims to contribute meaningfully to the discourse on how to return the Nigerian economy to growth, temper inflation, boost job creation, and increase awareness on how the government is responding to on-going fiscal and monetary challenges.

According to Lolade Sasore, Head of Marketing and Corporate Communications, “Over the past 5 years, we have hosted the annual conference in line with our commitment to facilitating the debate on developing our market, and promoting Nigeria as one of the leading investment destinations in sub-Saharan Africa for both domestic and foreign investors. “

“We will discuss the subject of fiscal stimulus and an expansionary posture; Nigeria’s stance on attracting foreign investment, and explore the workings of the liberalized FX markets. We will also examine some identified success stories in this challenging environment.”

The annual conference, which is now in its 6th year, provides a forum for investors to interact with leaders of the economy, key policy makers in government and senior executives of leading corporate institutions.

Over the years, the conferences have hosted several Ministers covering various portfolios including Finance; Industry, Trade and Investment; Communication Technology; and Petroleum Resources; as well as representatives from the Central Bank of Nigeria, the Securities and Exchange Commission and the Nigerian Pension Commission, amongst others.

It has also featured distinguished international speakers such as Mr. Jim O’Neill, former Chairman Goldman Sachs Asset Management & Chief Economist, Goldman Sachs; Professor Anil Gupta, International Expert on Strategy, Globalization and Emerging Markets; and Mr. Daniel Altman, Associate Professor of Economics at New York University’s Stern School of Business.

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First Bank of Nigeria Limited, Nigeria’s most valuable bank brand won ‘The Most Customer Friendly Bank’ and the ‘Best Bank in Corporate Social Responsibility’ whilst FBN Capital was awarded with the ‘Best Managed Funds (First Capital Asset Management Anchor Funds)’ and ‘Best Managed Funds (Money Market)’.

Organized by BusinessDay, the awards programme is renowned for its rigorous and transparent process in selecting outstanding financial institutions. It is to recognise competition and innovation in one of the fastest growing and fierce markets with fierce competition.

According to BusinessDay, FirstBank has continued to dominate the retail space with over 45% of the industry market share in retail customer deposits, extensive branch network of over 750 business locations and robust network of over 2500 ATM strategically located in Nigeria, sub-Saharan Africa, UK, China and UAE.

The bank also leveraged on its robust technology platforms to deliver secure, convenient and innovative banking products and services to its over ten million customers.

FirstBank’s corporate responsibility and sustainability initiatives over the years have built capacity for budding entrepreneurs, driving community development, empowering business start-ups with requisite skills to build sustainable businesses in a corporately responsible manner as well as led the discourse on protecting the environment and conserving natural habitats.

BusinessDay also extolled FBNCapital’s leadership in investment and asset management which drives it to see and create financial opportunities in new and existing territories.


Reacting to the awards on behalf of the Group, The Global Head, Marketing and Corporate Communications, FBN Holdings Plc, Folake Ani-Mumuney, said that the awards were a testament to the Group’s commitment to put its customers first and provide the best financial services possible.  

“We will always deliver the ultimate ‘gold standard’ of value and excellence. Our financial services knowledge and practices lead the market in ensuring that we understand our customers and surpass expectations to strive for a better way of delivering first-class service and experience, she stated.

Frank Aigbogun Publisher, BusinessDay, Nigeria’s leading business newspaper emphasised that the BusinessDay Banking Awards is the product of a rigorous process by BusinessDay’s Research and Intelligence Unit, designed to feed the editorial and also drive commercial research.

“Great institutions and leaders deserve to be recognised to boost healthy competition” Aigbogun said.

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The Report: Nigeria 2016 will include analysis of the country’s new floating foreign exchange policy, which was enacted in June by the central bank.

The decision to allow the naira to float marks a distinct change from previous policy, which in the face of dwindling reserves had led to a widening gap between official and black-market exchange rates for the naira against the US dollar.

OBG will also look at the impact of the measures on the domestic supply chain, and assess the ramifications for bond trading and liquidity in the Nigerian market. Other topics that the publication will cover include the Central Bank’s efforts to curb inflation, which remains above 9%.

To deepen OBG’s analysis on these issues, FBN Capital has signed a first-time memorandum of understanding (MOU) for the publishing firm’s forthcoming report. Serving as a research partner for the next three editions of The Report: Nigeria, the company will work closely with OBG’s team to support coverage on Nigeria’s key financial, economic and monetary issues.

FBN Capital will also be responsible for compiling and producing the Capital Markets Shares Analysis of The Report: Nigeria 2016.

Lolade Sasore, the head of marketing and corporate communications at FBN Capital, said, “Oxford Business Group is a recognised and respected source of business intelligence, and we are quite pleased about the collaboration.

“We are committed to working with strong partners to provide credible information, analyses and perspectives which will support decision-making and encourage investment into the country in the long term.”

OBG’s country director in Nigeria, Izabela Kruk, said that with 2016 expected to be a significant year for Africa’s largest economy, FBN Capital’s contribution to the Group’s forthcoming publication was particularly welcome.

“The Report: Nigeria 2016 comes at a pivotal point in the country’s development, with efforts to diversify the economy taking on added urgency due to lower global oil prices,” she said.

“FBN Capital is playing an active role in helping Nigeria to broaden its economic base and reduce its reliance on hydrocarbons and their deep knowledge of the local market will help further expand our coverage of Nigeria’s key financial sectors.”

The Report: Nigeria 2016 will be a vital guide to the many facets of the country, covering a range of sectoral developments in oil, industry, infrastructure, banking and telecoms, among others.

Oxford Business Group’s report will also contain interviews with leading representatives from the public and private sector, and is being produced in collaboration with the Nigerian Economic Summit Group and the Nigerian Investment Promotion Commission.

The publication will be available in print and online.

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The firm emerged as the winner of the “Best Refinancing in Africa’ at the EMEAFinance Achievement Awards; the prestigious “Deal of the Year, Africa” at The Banker Awards; and the “Most Innovative Bank in Africa’ by Global Finance Awards for Accugas IV, Seven Energy’s senior secured term loan and revolving working capital facility.

Speaking on the winning transaction, Patrick Mgbenwelu, Director and Head of Debt Solutions for FBN Capital, said that “These awards reaffirm our ability to remain at the forefront of structuring and closing innovative financing solutions within the African Investment Banking industry.

“We are pleased to have upheld the trust our clients placed in FBN Capital to assist in heading, structuring and arranging the Accugas IV financing, and our team remains committed to launching similar robustly structured financings in the local market.”

FBN Capital was also awarded “Best Investment Bank in Nigeria’ by Global Finance Magazine for the fifth consecutive year.

Commenting on the award, Lolade Sasore, Head of Marketing and Corporate Communications for FBN Capital stated, “We are honored to receive the recognition as an acknowledgement of the high standards we deliver for our clients whom we truly see as partners.

“As a member of the FBN Holdings Group, FBN Capital is committed to raising the bar much higher and offering our clients the most innovative solutions, demonstrating unrivaled market expertise and reliable business values.

“Providing sound professional advice and execution capabilities in supporting the financing, investing, trading, securing and advisory needs of our clients is our singular focus, and our partners remain confident that they can rely on us to look beyond today and create opportunities for their tomorrow.” she added.

EMEA Finance is a leading bi-monthly global industry publication that reports on the major financial events and happenings initiated and influenced by the international financial industry in Europe, the Middle East and Africa.

The award celebrates the Best Refinancing in Africa taking into consideration its market strength, profitability, growth and earnings, as well as the potential and quality of management of the financial institutions.

The Banker, a part of the Financial Times Group, has been providing global financial intelligence since 1926 and for the annual Awards, one winning bank is selected for each of the 120 countries judged; while the Global Finance awards uses a series of criteria including market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings and market reputation to score and select winners.

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Akinkugbe made this known as part of a panel on “The Nigerian Capital Market: A Catalyst for Change” during the 2015 Business Luncheon of the Capital Market Solicitors Association (CMSA) held recently held in Lagos.

Speaking at the event, Akinkugbe stated that “Nigeria is at a point in its development where the issue of infrastructure has become extremely critical. Our infrastructure deficit requires us to invest around $30 billion a year for the next decade to catch up.

“The financing requirements are far much more than what the commercial banks can cope with. There is therefore a clear gap, and the right segment of the financial market to fill the gap is the capital market”.

Akinkugbe explained, however, that strengthening liquidity in the capital market is very crucial, especially for confidence.

“If we have counter parties that have strong capital, there will be much more activity in the capital market. Currently, we really don’t have a lot of well capitalized institutions.

“Being well capitalized means you can make investments in distribution. He submitted that to make the investments that are required, properly capitalized institutions are needed.”

From a regulatory perspective, Ms Tinu Awe, Head Legal and Regulations, Nigerian Stock Exchange expressed that there are three paradigm adjustments that needs to be made within the Capital Market industry.

Firstly, according to her, the operators need to collaborate together to challenge the status quo of the financial market.

Secondly, regulators need to take a look at themselves and develop some sort of ‘regulators code’ to guide the execution of their oversight functions, and finally, operators must show greater willingness to be regulated.

“The nature of engagement of the capital market with the various stakeholders needs to be looked at. There needs to be a different model for engaging, particularly with the public sector.

“The way the bankers and the Bankers Committee for example, have built relevance in the national dialogue and with the presidency is an approach that needs to be considered in the capital market community.

“Also how we develop the buy-side in the country is critical, as the banking sector still dominates in terms of financial assets that are managed. We need to look for ways to try and mobilize savings by looking more to collective investment schemes for instance,” Akinkugbe surmised.

FBNQuest featured as a co-sponsor of this year’s edition of the Capital Market Solicitors Association Business Luncheon, an independent self-regulatory body of solicitors and commercial law firms engaged in capital market practice in Nigeria.

The business luncheon is its flagship event organized to discuss topical issues and pragmatic ways to develop the capital market.

The event, now in its 13th year, drew participants from the capital market community, including legal practitioners, regulators, issuers, investment bankers, stockbrokers, trustees and registrars.

In September 2015, FBN Capital Limited, a part of FBNQuest, was recognized as the 2015 Best Africa Investment Bank by the Africa Investor Group.

The firm has also received the award for Best Investment Bank in Nigeria 2015 by Global Finance Magazine for the fourth consecutive year, and the World Finance Banking Award for the Best Investment Bank in Nigeria 2014.

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FBNQuest includes FBN Merchant Bank Limited, FBN Capital Limited, FBN Securities Limited, FBN Capital Asset Management Limited, FBN Trustees Limited, FBN Funds Limited and FBN Capital Partners Limited as they will now operate under one brand identity.

The new brand identity does not alter the existing ownership and governance structures of all the companies within the group.

Speaking on the change, Kayode Akinkugbe, MD/CEO of FBN Capital stated, “As we prepare to commence Merchant Banking services on the 2nd of November 2015, this evolution to one brand is important for the alignment of our business and brand strategy.

“The unification of all these subsidiaries under a single identity, FBNQuest, allows us to offer our broad range of services to our clients in a simplified way.

“It also conveys a more unified company ethos and vision that seeks to create value-driven connections with clients and build lasting relationships.

“We aim to be the leading Merchant Bank and Asset Manager in Africa, a trusted and inspirational partner, with deep local roots and global insights. This client-centric approach allows us to provide services more efficiently and effectively.”

Ibukun Awosika, Chairman of the FBN Capital Limited added that “With the acquisition of Kakawa Discount House by FBN Holdings, and the CBN’s approval of the associated Merchant Banking Licence, we believed it was important to consolidate the various brands in our Investment Banking and Asset Management group under one cohesive identity.

“The expansion of the IBAM group’s product platform gives FBNQuest the capability to offer a broader set of products and services that will not only deepen existing relationships, but open up new opportunities for our clients.

Awosika said that although Nigeria remains predominantly a commercial and corporate banking market, there is a growing need for merchant banking and asset management services as the conduit between the bank and capital markets.

She said that the group’s competitive positioning is enhanced by a strong track record of delivery, a stronger balance sheet, access to a wider universe of funding sources to enable the creation of value for clients, as well as the opportunity to generate incremental revenue from new product lines which will ultimately result in increased stakeholder value.

According to the Group CEO, FBN Holdings Plc Mallam Bello Maccido, “The name ‘FBNQuest’ is an acknowledgement of the 120-year old pioneering spirit of the group, and is a symbol of the journey of discovery we embark upon with clients to find new solutions in innovative ways.

“It represents our commitment to drawing on the strengths of our past in order to understand today’s realities and seek out innovative solutions for tomorrow.”

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The theme of this year’s event is “Reinventing the Nigerian Economy: Beyond the Rhetoric” and the event will feature a number of leading economists and business personalities, including Daniel Altman, former economic advisor to the British government and creator of the Baseline Profitability Index (a global tool for assessing the attractiveness of investing in markets around the world).

Others include Jonathan Berman, a proven strategic advisor to numerous global Fortune 500 companies on entry and operations in emerging and frontier markets.

Also headlining the event will be Bismarck Rewane, CEO, Financial Derivatives Company Limited; Dr. Ayo Teriba, CEO, Economic Associates; and Ms. Barbara Barungi, Lead Economist, African Development Bank.

According to Kayode Akinkugbe, the Managing Director of FBN Capital, “Over the last four years, we have examined key aspects of Nigeria’s economic development and our attempt to transition to a regional economic power house. This year, we will consider how Nigeria can truly re-invent itself and capitalize on the momentum of its current political transformation.”

The conference will take a deep-dive into the Nigerian economy to examine how the new administration can respond to the fiscal challenges of the nation, the key reforms that have to be tackled drawing from the successes of similar frontier and emerging countries, and the reality of the Nigerian growth opportunity within the context of the current operating environment.

An evaluation of the central bank’s monetary policies and their effectiveness in a weaker global macro environment will also be explored, as well as the new roles the private and public sectors can play in providing financing solutions for growth.

In September, FBN Capital was recognized as the 2015 Best Africa Investment Bank by the Africa Investor Group. The firm has also received the award for Best Investment Bank in Nigeria 2015 by Global Finance Magazine for the fourth consecutive year, and the World Finance Banking Award for the Best Investment Bank in Nigeria 2014.

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The award which was received at the CEO Institutional Investment Summit and Institutional Investment Capital Market Awards in New York, USA last week was conferred in recognition of the firm’s leading role in power, infrastructure, capital markets and other financing programs over the past year.

Launched in 2007, the award series is designed to recognise Africa’s best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and sovereign wealth and pension fund investors.

Commenting on the Award winners, Hubert Danso, CEO and Vice Chairman of Africa Investor, said, “We are delighted to be able to say that this year’s winners are our most exciting yet, and are testament to the ever-improving investment climate in Africa.”

In April 2015, acting as Technical Bank and Structuring Bank, FBN Capital closed Seplat Petroleum Development Company Plc’s $700 million seven year secured term facility, which included an option to upsize the facility by up to an additional $700 million for qualifying acquisition opportunities.

The firm was also appointed as the mandated Lead Arranger, Structuring Bank, Modelling Bank, Initial Technical Bank and Global Facility Coordinator of the Accugas syndicated medium term loan of up to $445 million, which successfully closed in July 2015; and served as Arranger of the debut Commercial Paper Issuance for Wema Bank Plc, where an effective yield of 16.51 percent, representing 336bps over comparable FGN Treasury Bills was recorded in the 182 days discounted notes offering.

Speaking at the event, the Deputy Managing Director of FBN Capital Taiwo Okeowo said, “We are truly delighted to have won this award, which to us is an indication of the positive impact we are making with our clients and partners, locally and regionally.

“FBN Capital remains committed to ensuring the robustness of local financing and supporting our partners towards realizing their financing and investment goals.

FBN Capital Limited was recognized as the ‘Best Investment Bank in Nigeria 2015’ for the fourth consecutive year by Global Finance Magazine.

The firm also received the World Finance Banking Awards as the Best Investment Bank in Nigeria 2014, and the EMEA Finance Africa Banking Awards as the Best Asset Manager in Nigeria 2014.

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