Today is July 21, 2018
The Lagos Portal
Lagos (Yoruba: Èkó) is a conurbation in the Nigerian state of Lagos. Often regarded as a city, it is the largest city in Nigeria and the African continent. Lagos is one of the fastest growing cities in the world and also one of the most populous urban agglomerations in the world. Lagos is a major financial centre in Africa; the mega city has the highest GDP, and also houses one of the largest and busiest ports on the continent.
Lagos initially emerged as a port city which originated on a collection of islands, which are contained in the present day LGAs of Lagos Island, Eti-Osa, Amuwo-Odofin and Apapa; the islands are separated by creeks, fringing the southwest mouth of Lagos Lagoon, while protected from the Atlantic Ocean by barrier islands and long sand spits such as Bar Beach, which stretch up to 100 kilometres (60 miles) east and west of the mouth. Due to rapid urbanization, the city expanded to the west of the lagoon to include areas in the present day Lagos Mainland, Ajeromi-Ifelodun, and Surulere. This led to the classification of Lagos into two main areas - the Island, which was the initial city of Lagos, before it expanded into the area known as the Mainland. This city area was governed directly by the Federal Government through the Lagos City Council, until the creation of Lagos State in 1967, which led to the splitting of Lagos city into the present day seven Local Government Areas(LGAs), and an addition of other towns (which now make up 13 LGAs) from the then Western Region, to form the state.
Lagos which was the capital of Nigeria since its amalgamation in 1914, went on to become the capital of Lagos State, after its creation. However, the state capital was later moved to Ikeja in 1976, while the federal capital also moved to Abuja in 1991. Even though Lagos is still widely referred to as a city, the present day Lagos, also known as "Metropolitan Lagos", and officially as "Lagos Metropolitan Area" is an urban agglomeration or conurbation, which consists of 16 out of Lagos State's 20 LGAs, including Ikeja, the state capital. This conurbation makes up 37% of Lagos State's total land area, but houses about 85% of the state's total population.
The exact population of Metropolitan Lagos is disputed; however, the National Bureau of Statistics in 2015 estimates the population of the area at approximately 21 million.
Aerial view of Lagos in 1929
Lagos was originally inhabited by the Awori subgroup of the Yoruba people in the 15th century, who called it "Oko". Under the leadership of the Oloye Olofin, the Awori moved to an island now called Iddo and then to the larger Lagos Island. In the 16th century, the Awori settlement was conquered by the Benin Empire and the island became a Benin war-camp called "Eko" under Oba Orhogba, the Oba of Benin at the time. The Yoruba still use the name Eko to refer to Lagos. Lagos, which means "lakes", was a name given to the settlement by the Portuguese. The present-day Lagos state has a high percentage of Awori, who migrated to the area from Isheri along the Ogun river. Throughout history, it was home to a number of warring ethnic groups who had settled in the area. Following its early settlement by the Awori nobility, and its conquest by the Bini warlords of Benin, the state first came to the attention of the Portuguese in the 15th century.
Portuguese explorer Rui de Sequeira visited the area in 1472, naming the area around the city Lago de Curamo; indeed the present name is Portuguese for "lakes". Another explanation is that Lagos was named for Lagos, Portugal—a maritime town which, at the time, was the main centre of Portuguese expeditions down the African coast, and whose own name is derived from the Latin word Lacobriga.
First Bank of Nigeria, sometimes referred to as FirstBank, is a Nigerian bank and financial services company. It is the country's largest bank by assets.
As of June 2013Fitch, the Global Credit Rating Company, partly due to its low exposure to non-performing loans. The bank has strong compliance with financial laws and maintains a strong rating from the Economic and Financial Crimes Commission of Nigeria.
, the bank had assets totaling approximately US$21.3 billion (NGN:3.336 trillion). The bank's profit before tax, for the twelve months ending 31 December 2012 was approximately US$542.5 million (NGN:86.2 billion). At that time, the bank maintained a customer base in excess of 8.5 million individuals and businesses. First Bank of Nigeria has solid short and long term ratings from
The subsidiaries of First Bank of Nigeria include the following:
- FBN Bank (UK) – London, United Kingdom – 100% shareholding – savings products sold under FirstSave brand
- FBN Bank (UK) – Paris, France – a branch of the subsidiary in the UK
- Banque International de Credit (BIC) – Kinshasa, Democratic Republic of the Congo – 75% shareholding
- FBN Bank (China) – Beijing, China – representative Office
- FBN Bank (UAE) – Abu Dhabi, United Arab Emirates – representative Office
- FBN Bank (South Africa) – Johannesburg, South Africa – representative Office
- FBN Bureau de Change (Nigeria) – Lagos, Nigeria – 100% shareholding
- FBN Bank (Ghana) – Accra, Ghana – 100% shareholding
- FBN Bank (Guinea) – Conakry, Guinea – 100% shareholding
- FBN Bank (Gambia) – Banjul, Gambia – 100% shareholding
- FBN Bank (Sierra Leone) – Freetown, Sierra Leone – 100% shareholding
- FBN Bank (Senegal) – Dakar – 100% shareholding
Due to changes in Nigerian banking laws, following the Great Recession of 2007-2009, FBN re-organized itself into four business groups under a holding company called FBN Holdings Plc., also referred to as FBN Holdings. Bello Maccido, who was executive director (retail, north), was nominated to be the CEO of the new parent company. The shares of the holding company are listed on the Nigerian Stock Exchange. FBN Holdings Plc is the parent company of all companies in the FirstBank Group. The four business groups of FBN Holdings Plc. are:
- Commercial Banking – includes First Bank of Nigeria and all its commercial banking subsidiaries listed in the previous section.
- Investment Banking and Asset Management – includes FBN Capital Limited, FBN Securities Limited, First Funds Limited and First Trustees Nigeria Limited.
- Insurance – includes FBN Life Assurance Limited and FBN Insurance Brokers Limited.
- Other Financial Services – consists of FBN Microfinance Bank Limited.
The Bank traces its history back to 1894 and the Bank of British West Africa. The bank originally served the British shipping and trading agencies in Nigeria. The founder, Alfred Lewis Jones, was a shipping magnate who originally had a monopoly on importing silver currency into west Africa through his Elder Dempster shipping company. According to its founder, without a bank, economies were reduced to using barter and a wide variety of mediums of exchange, leading to unsound practices. A bank could provide a secure home for deposits and also a uniform medium of exchange. The bank primarily financed foreign trade, but did little lending to indigenous Nigerians, who had little to offer as collateral for loans.
The Lagos Taskforce
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Olayinka Badmus Macaulay|
November 14, 1864
May 7, 1946 (aged 81)|
Church Missionary Society Grammar School, Lagos|
politician, engineer, architect, journalist, musician.|
1891 - 1946|
Nigerian National Democratic Party|
National Council of Nigeria and the Cameroons
Sarah Abigail Idowu Macaulay (daughter)|
Oliver Ogedengbe Macaulay (son)
Thomas Babington Macaulay (father)|
Abigail Crowther (mother)
Ojo Oriare (paternal grandfather)|
Samuel Ajayi Crowther (maternal grandfather)
Julius Gordon Kwasi Adadevoh (son-in-law)
Babatunde Kwaku Adadevoh (grandson)
Modupe Smith (granddaughter)
Joseph Chike Edozien (grandson-in-law)
Ameyo Adadevoh (great-granddaughter)
Olayinka Herbert Samuel Heelas Badmus Macaulay (14 November 1864 – 7 May 1946) was a Nigerian nationalist, politician, engineer, architect, journalist, and musician and is considered by many Nigerians as the founder of Nigerian nationalism.
Olayinka Macaulay Badmus was born in Lagos on 14 November 1864 to Thomas Babington Macaulay and Abigail Crowther, children of people captured from what is now present day Nigeria, resettled in Sierra Leone by the British West Africa Squadron, and eventual returnees to present day Nigeria. Thomas Babington Macaulay is one of the sons of Ojo Oriare while Abigail Crowther is the daughter of Bishop Samuel Ajayi Crowther. Thomas Babington Macaulay was the founder of the first secondary school in Nigeria, the CMS Grammar School, Lagos.
After going to a Christian missionary school, he took a job as a clerk at the Lagos Department of Public Works. From 1891 to 1894 he studied civil engineering in Plymouth, England.
Did you know...
- ...Lagos means Lakes in Portuguese? The city acquired this name when the first European explorer, Rui De Sequeira visited the area in 1472.
- ... that there's a floating fishing community in Lagos called Makoko?
- ... that Lagos was the second city in the world to have street lamps after London?
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