FirstBank Subsidiary, First Nominees Nigeria Limited Becomes First Registered Nominee Company In Nigeria—-Licensed by the Central Bank of Nigeria (CBN) and regulated by the Securities and Exchange Commission (SEC), FirstNominees is now a full-fledged Capital Market Operator.
This achievement is set to strengthen FirstBank’s regulatory engagement and expand the scope of its custody business to the benefit of its clients.
Commenting on the registration, Kunle Olorunfemi, the Managing Director of FirstNominees said “We are delighted to receive this registration from the SEC, which is a testament to our commitment to excellence and our ability to deliver on our promises. We would like to thank our clients for their partnership and support over the years and assure them that we will continue to deliver superior service while expanding our bouquet of custody services.”
With over 130 years of Nigerian market expertise, FirstBank’s strength and stability will empower FirstNominees to expertly navigate clients’ evolving needs, delivering tailored solutions with precision and excellence.
According to Olusegun Alebiosu, the Managing Director/CEO, FirstBank Group, “We congratulate FirstNominees on this significant achievement. The achievement marks another milestone for the FirstBank Group and with this registration, FirstNominees is now a fully registered Capital Market Operator tasked with upholding global best practices, standard and professionalism. This accomplishment reaffirms our leadership and unwavering commitment to excellence in the financial services industry. Guided by our core values of Entrepreneurship, Professionalism, Innovation and Customer Centricity (EPIC), the professional and innovation team at FirstNominees is equipped with cutting-edge technology to deliver exceptional custody services to its High Net-Worth local and international investors regardless of their location around the globe.”
A Nominee for the SEC Regulation is a company formed by a bank or other financial institution to hold securities and other assets and administer them on behalf of the actual owners under the terms of a custodial or nominee agreement.
With this registration, FirstNominees solidifies its position as a premier Capital Market Operator, showcasing expertise in navigating regulatory requirements and reinforcing FirstBank’s reputation for compliance excellence.
