Dangote Set To Build New HQ, Joins First Bank At Eko Atlantic City
- Aliko Dangote said he plans to move the headquarters of his industrial empire to Eko Atlantic City in Lagos
- He mentioned his planned action at the groundbreaking ceremony for First Bank's new headquarters
- The occasion marked the start of First Bank's 40-storey iconic head office building development
Legit.ng journalist Zainab Iwayemi has 5 years of experience covering the Economy, Technology, and Capital Market.
The richest man in Africa, Aliko Dangote, has declared his intention to relocate his industrial empire's headquarters to Lagos' Eko Atlantic City, solidifying the area's rise to prominence as the country's financial centre.
Dangote spoke at the groundbreaking ceremony for FirstBank's new environmentally friendly headquarters.
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He applauded the bank's ambitious endeavour and made a reference to his own move, Billionaires. Africa reported.
“I will be here very soon,” Dangote said, addressing fellow billionaire Femi Otedola. “And I want to congratulate you on this groundbreaking ceremony.”
The event signalled the beginning of construction on First Bank's 40-story iconic head office building, which will stand at 252 meters and be the highest building in West Africa.
First Bank's leadership in green banking will be strengthened and operational costs will be reduced by the tower's 115,000 square meters of built-up space, which was designed with sustainability in mind.
Constructed on the ground that was once part of the Atlantic Ocean, Eko Atlantic City is quickly becoming the commercial centre of Lagos. At least 250,000 people are anticipated to live in the neighbourhood, which is designed to endure harsh maritime conditions and can handle 150 thousand commuters per day.
The corporate elite of Nigeria has long been concentrated in areas like Ikoyi and Victoria Island, but Dangote's move, combined with First Bank's move from Marina, indicates that Eko Atlantic will soon become the new hub for business and finance.
In attendance, Lagos state governor Babajide Sanwo-Olu formally approved the construction. Eko Atlantic's transformation from a land reclamation project to Nigeria's fastest-growing international business centre is demonstrated by the project's enormity.
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A larger drive for innovation in the nation's banking industry is reflected in First Bank, Nigeria's oldest and biggest financial institution, locating its headquarters in the tallest tower in West Africa.
Under Otedola's leadership, First Holdco, the bank's parent firm, is adopting a progressive stance that complements Lagos' quick modernisation.
The neighbourhood is becoming Nigeria's new corporate hub, solidifying its position on the world financial map as business titans like Dangote and Otedola support Eko Atlantic's promise.
First Bank announces new name
Legit.ng reported that FBN Holdings Plc had been renamed First HoldCo Plc (FirstHoldCo) as part of plans to create a uniform identity across all its subsidiaries.
The leading Nigerian financial company announced the change in its name in a statement released on Tuesday, February 11, 2025.
The rebranding was intended to highlight First HoldCo’s commitment to innovation, customer focus, and operational excellence.
