Standard Bank of Nigeria , Standard Bank Limited xx First Bank of Nigeria - Standard Bank

Standard Bank of Nigeria , Standard Bank Limited xx First Bank of Nigeria - Standard Bank

The Bank of British West Africa first opened in Nigeria in 1897; In 1957 the bank changed its name to the Bank of West Africa and in 1965 merged with Standard Bank Limited. The operations in West Africa became known as the Standard Bank of West Africa Limited. In 1969 the Nigeria business was incorporated, initially as a wholly owned subsidiary, to be known as the Standard Bank of Nigeria; In 1971 the bank was listed on the Nigerian Stock Exchange and 13% of the share captial was devolved to the Nigerian Public. In 1979 Standard reduced its holdings in the company to just 38% and the business was renamed, First Bank of Nigeria - Standard Bank - which since 1969 had been part of Standard Chartered Banking Group - sold its remaining shares in the bank in 1996.

In 1999 Standard Chartered Bank re-entered Nigeria creating a new wholly owned subsidiary company, Standard Chartered Nigeria which has no links with the former Standard Bank operations or First Bank of Nigeria.