Business
Sanwo-Olu Grants Approval for Construction of First Bank’s New Headquarters
Lagos State Governor, Babajide Sanwo-Olu, on Wednesday, presented a Certificate of Approval to FirstBank Group for the construction of its iconic 43-storey eco-friendly headquarters in Eko Atlantic City.
Accompanied by his Special Adviser on eGIS and Urban Development, Dr. Olajide Abiodun Babatunde, and General Manager of the Lagos State Building Control Agency (LABSCA), Arc. Gbolahan Oki, Governor Sanwo-Olu handed over the certificate to FirstHoldCo Chairman, Femi Otedola, and FirstBank Group CEO, Olusegun Alebiosu, during the project’s groundbreaking ceremony.
A Landmark Skyscraper for Nigeria’s Financial Sector
Governor Sanwo-Olu praised FirstBank Group for its vision and leadership, commending its audacity to construct a 43-storey skyscraper, which will become Nigeria’s tallest building.
He also lauded the development of Eko Atlantic City, describing it as a model for Africa and attributing its transformation to the bold initiatives of President Bola Tinubu during his tenure as Lagos State Governor.
“I have seen several investments come into Eko Atlantic City, but I believe this FirstBank headquarters is the investment that will redefine its future,” Sanwo-Olu stated.
Lagos: Africa’s Financial and Investment Hub
The Governor highlighted the significance of this project in aligning with the state’s vision for Lagos as Africa’s premier financial hub.
“Just yesterday, we laid the foundation for the Lagos International Financial Centre. Our goal is to position Lagos as a global leader in finance and commerce. This city will be a safe, secure, and thriving mega city, setting the pace for financial innovation across Africa,” he said.
Lagos State to Launch International Financial Centre to Boost Capital Market Growth
Sanwo-Olu also encouraged other financial institutions to follow FirstBank’s lead by investing in Eko Atlantic City, pledging to provide a supportive business environment for investors.
“FirstBank has always been a pioneer. Now, it is time for other financial institutions to follow suit. I am ready to facilitate more groundbreaking projects and ensure an enabling environment for investments in Eko Atlantic City,” he added.
Lagos State Deputy Governor, Dr. Obafemi Hamzat; Governor Babajide Sanwo-Olu; Vice President, Senator Kashim Shettima; Ogun State Governor, Prince Dapo Abiodun; First Bank Holdings Board Chairman, Femi Otedola; and First Bank Group MD/CEO, Olusegun Alebiosu, at the groundbreaking ceremony for First Bank’s headquarters tower at Eko Atlantic City, Victoria Island, on March 5, 2025.
High-Profile Attendance at the Groundbreaking Event
The event was attended by Vice President Kashim Shettima, Governors Dapo Abiodun (Ogun) and Lucky Aiyedatiwa (Ondo), Lagos State Deputy Governor Dr. Obafemi Hamzat, and former Senate President Dr. Bukola Saraki.
Other notable figures included business moguls Alhaji Aliko Dangote, Femi Otedola, Dr. Deji Adeleke, Alhaji Mohammed Indimi, Senator Daisy Danjuma, and Gilbert and Roland Chagoury.