Is there a First Bank of Nigeria in the UK?
Yes — First Bank of Nigeria has a UK banking subsidiary, FBN Bank (UK) Limited, which is authorised by the Prudential Regulation Authority (PRA) and regulated by both the PRA and FCA. FBN Bank UK is headquartered in London and offers trade finance, corporate banking, and banking services for the Nigerian and broader African diaspora community in the UK. It is separate from First Bank of Nigeria’s broader operations.
What services does FBN Bank UK offer?
FBN Bank (UK) Limited focuses primarily on corporate and trade finance, international banking, and diaspora financial services. It facilitates trade between the UK and Nigeria, provides foreign exchange and remittance services, and offers accounts for individuals and businesses with financial ties to Nigeria and West Africa. It does not operate as a mass-market retail bank in the UK.
Does FBN Bank UK support open banking?
As an FCA and PRA-regulated UK bank, FBN Bank UK is subject to the Payment Services Regulations 2017, which underpin open banking. However, as a smaller specialist bank, FBN Bank UK is not one of the nine CMA-mandated open banking banks. Customers should contact FBN Bank UK directly to determine what open banking API access is currently available for their accounts.
Open Banking in Practice: FBN Bank (UK) Limited is a fully licensed UK bank with FSCS deposit protection up to £85,000. First Bank of Nigeria was founded in 1894 and is one of the oldest and largest banks in Africa. Its UK subsidiary provides an important bridge for trade and financial flows between the UK and Nigeria. Read more about African diaspora banking in the UK on openfuture.world.
FAQ
How do I contact FirstBank from the UK?
FBN Bank (UK) Limited can be contacted through its London office; details are available on the FBN Bank UK website at fbnbank.co.uk.
Is FBN Bank the same as First Bank?
Yes — FBN Bank (UK) Limited is the UK subsidiary of First Bank of Nigeria, commonly known as First Bank or FBN.
Is there GTBank in the UK?
Yes — Guaranty Trust Bank (GTBank) operates in the UK through GTBank UK Limited, offering diaspora banking services similar to FBN Bank UK.