The management of one of the foremost banks in the country, First Bank of Nigeria Plc, has said that the unanimous endorsement of the bank's proposed N100 billion Rights Issue and Public Offer of ordinary shares is a sign that buyers of the shares would receive better return on their investments.
At the bank's extraordinary general meeting (AGM) held in Lagos last week, the shareholders reportedly voted in favour of the offer.

Shareholders were quoted at the meeting to have commended the board of the bank for coming up with the offer and made suggestions on how it would maintain its leadership position in the banking industry.

Nigeria became a member and a shareholder of IFC in 1961.  Since then, IFC has invested more than $1billion in the country, including $113 million in syndicated loans, to finance over 68 projects across a variety of sectors.  In FY06, IFC’s investments reached $265 million.  IFC’s committed portfolio in Nigeria currently stands at $719 million.  IFC has invested in key sectors including banking, infrastructure, general manufacturing, oil and gas, healthcare, tourism, and education.

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