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First Ally Capital Limited, a leading financial services group headquartered in Lagos, has announced the appointment of four of its executive management staff into key leadership roles. The appointments, which took effect from the 1st of January 2025 are as follows:

Olumayowa Ogunwemimo, previously a Group Executive Director, was appointed Deputy Group Managing Director while continuing to serve as Managing Director of First Ally Asset Management (FAAM), a role she has held since 2020. With over two decades of experience in financial planning, investment advisory, and asset management, she has been instrumental in the growth and success of FAAM. Her career began at First Securities Discount House (now FSDH Merchant Bank) where she rose to the position of Managing Director of FSDH Asset Management prior to joining First Ally. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), she holds a degree in Accounting from Obafemi Awolowo University and is an alumna of the Lagos Business School.

Kayode Abobarin, the Group’s Chief Finance Officer, was appointed Executive Director, Corporate Services. With over 15 years of professional accounting experience spanning banking, financial services, oil & gas, and consulting, Kayode joined First Ally at inception in 2014 as Head of Finance. In his new role, he will oversee financial control, treasury, strategic investments and IT, ensuring the company remains robust in its operations. He has attended several management and leadership trainings, including the Leading High-Performance Teams at the Institute of Management Development, Lausanne, Switzerland.

Edwina Ugwu has taken on the new role of Executive Director, Clients Coverage & Sales at FAAM, where she will lead efforts to enhance client engagement and deliver innovative wealth management solutions. Before her appointment, she was Senior Vice President at FAAM, leading its Abuja office and overseeing regional operations. She is a Fellow of the Association of Corporate Governance Professionals of Nigeria and holds an Executive MBA from the University of Lancaster, UK, a Bachelor of law degree from Enugu State University of Science & Technology and a Barrister at Law degree from the Nigerian Law School. In 2024, she attended the Leading High-Performers Teams training at the Institute of Management Development, Lausanne, Switzerland.

Adetola Adeleye was appointed Managing Director of First Ally Trustees Limited. She has played a critical role in the growth of First Ally, having served as the Group’s Head of Legal Services and Company Secretary. A graduate of Obafemi Awolowo University and the University of Pennsylvania Law School, she has been recognised for her contributions to corporate governance, including receiving the ESQ Nigerian Rising Star Award in 2022. In her new role, she will drive the growth and market positioning of First Ally Trustees, ensuring tailored trust solutions for the Group’s diverse clientele.
These appointments re-affirm the Group’s commitment to empowering its people, and to innovation, growth and exceptional customer service.

The holiday season at First Ally Capital was truly magical this year, as we had the delight of welcoming a very special guest: Santa Claus himself. His visit brought waves of joy, laughter, and festive cheer to our offices, making this season one to remember. As we reflect on the year gone by, we celebrate the triumphs and milestones we have achieved together and look ahead to a future filled with possibilities.

Santa’s presence is always a reminder of happiness, warmth, and a sprinkle of wonder. This year, his visit echoed the joy we have experienced as a team. Despite challenges, we have grown stronger, more resilient, and celebrated achievements that have propelled us to new heights. From our 10th anniversary to new members of the group and receiving heartfelt feedback from our clients, every success has been a gift that keeps on giving. Just as Santa spreads joy, our dedication to delivering exceptional value to our clients has been at the heart of our journey.

At First Ally Capital, success is more than just the big wins; it is the collective effort of small, meaningful victories. Each positive interaction with a client, each innovative idea, and each milestone reached is like a twinkling light on a beautifully decorated Christmas tree—together, they create something extraordinary. This year, our achievements were made possible by teamwork, resilience, and the incredible people who make up the First Ally family. As Santa’s sleigh symbolises unity and purpose, so do our shared efforts in shaping a brighter future.

The festivities may be winding down, but the excitement does not stop here. As we step into a new year, we are filled with optimism and determination to embrace fresh opportunities, tackle new challenges, and innovate further. Our plans for the upcoming year are ambitious—expanding our reach, enhancing client experiences, and pushing boundaries to deliver excellence. With every resolution we make, we are setting the stage for a future defined by success and growth.

As we bid farewell to this year and raise a toast to the next, we reflect on everything we’ve accomplished and all that awaits. The holiday season is not just about celebrating—it’s about cherishing the people, moments, and memories that make our journey meaningful.

To our incredible team, partners, and clients: thank you for being an essential part of our success. Together, we’ll continue to create magic, exceed expectations, and achieve greatness in the year ahead. Here’s to a season filled with joy and a future brimming with opportunity. Cheers to new beginnings and may the holiday spirit carry us all into a bright and prosperous new year!

 

First Ally Capital Limited, a leading Nigerian investment banking and financial services firm, proudly celebrates its 10th anniversary, marking a decade of innovation, excellence, and unwavering commitment to value creation in the financial sector. Under the theme “A Decade of Trust, Innovation, and Value Creation,” the anniversary events highlighted the firm’s journey from humble beginnings to becoming a diversified financial powerhouse. 

Thanksgiving Service: A Moment of Gratitude 

The celebrations began on October 27 with a heartfelt Thanksgiving Service at the Redeemed Christian Church of God, The King's Court, in Victoria Island, Lagos. Our staff and leadership together with our families gathered in unity, adorned in vibrant Adire fabrics, to express gratitude to God for our achievements over the past decade and to seek blessings for the future.  

Bringing Services Closer to Our Clients 

On November 5, we officially opened the new Abuja branch office of our asset management subsidiary, First Ally Asset Management, at No 3 Kenema Close, off Ademola Adetokunbo, Wuse II, Abuja. This move signifies our commitment to providing accessible and innovative financial solutions across Nigeria. The branch office will not only continue to provide comprehensive asset and fund management services to First Ally’s clients in Abuja and other parts of Northern Nigeria, it will also enable other subsidiaries of First Ally Capital to seamlessly extend their services beyond Lagos. This modern facility also emphasizes First Ally’s commitment to providing state-of-the art facilities and the enabling environment for employee creativity and productivity.  

Gala Night: Celebrating Milestones and Unveiling New Initiatives 

The anniversary festivities culminated on November 8 in a grand Gala Night at the Balmoral Convention Centre, Federal Palace Hotel in Lagos. The black-tie event brought together esteemed clients, shareholders, partners, regulators, and distinguished guests to celebrate our milestones and unveil key initiatives that will shape our future. 

During the Gala Night, we made several significant announcements: 

• Rebranding of Personal Trust Microfinance Bank Limited 

We proudly unveiled the new name of our microfinance subsidiary, First Ally Trust Microfinance Bank Limited. This rebranding reflects our renewed focus on enhancing financial inclusion through digital solutions. By leveraging technology, we aim to provide accessible financial services to the underbanked and underserved populations, empowering individuals and small businesses to achieve their financial goals. 

• Introduction of First Ally Advisory Limited and First Ally Trustees Limited 

We introduced First Ally Advisory Limited, a newly formed subsidiary that now holds our issuing house license, enabling us to consolidate on our solid foundation of providing specialised corporate finance and capital market advisory services. First Ally Trustees Limited, licensed by the Securities & Exchange Commission, will offer trustee services, enhancing our ability to meet the fiduciary needs of our clients in an increasingly complex financial landscape. These additions allow us to offer a more comprehensive suite of services, reinforcing our position as a one-stop financial solutions provider. 

• Highlighting First Ally Properties Limited 

First Ally Properties Limited, our real estate investment and development arm, has been instrumental in acquiring and managing key properties that support our operations. From our corporate headquarters on Ajose Adeogun Street Victoria Island to our microfinance bank's location in Jibowu, Lagos, First Ally Properties ensures that we operate from state-of-the-art facilities that inspire innovation and excellence. The subsidiary also provides facilities management services for the First Ally group and for our clients.  

• Showcasing MyInvestar: Empowering Investors 

We highlighted MyInvestar, the cutting-edge savings and investment platform from First Ally Asset Management, designed to democratise access to investment opportunities. MyInvestar provides our clients with seamless access to a wide range of investment products, offering transparency, convenience, and efficiency. This platform embodies our commitment to leveraging technology to enhance client experiences and foster financial growth among individuals and institutions. 

Reflection on a Decade of Growth and Looking Ahead 

Reflecting on our journey, the Group Managing Director/CEO, Ebenezer Olufowose, remarked: 

"Over the past ten years, First Ally has evolved from a modest beginning to a diversified financial services group, thanks to the unwavering support of our clients, shareholders, and dedicated team. Our commitment to innovation, professionalism, and client-focused solutions has been the cornerstone of our success. As we embark on the next decade, we are excited to build upon our legacy, leveraging technology and strategic partnerships to create even greater value for our stakeholders." 

Our Vision for the Future 

As we look to the future, our focus remains on: 

• Innovation: Continuing to harness cutting-edge technologies to transform our services and meet evolving client needs. 

• Market Expansion: Enhancing our market presence in Nigeria and exploring opportunities for global expansion through strategic partnerships. 

• Talent Development: Attracting and nurturing top talent to ensure our team remains at the forefront of industry trends and best practices. 

Gratitude to Our Stakeholders 

We extend our heartfelt gratitude to: 

• Our Clients: For entrusting us with your financial needs and allowing us to serve as your trusted ally. 

• Our Shareholders: For your unwavering support and confidence in our vision and strategies. 

• Our Directors: For your encouragement and support always. 

• Our Staff: For your dedication, professionalism, and commitment to excellence. 

• Our Regulators: For providing regulatory oversight that guides us towards higher and higher standards. 

About First Ally Capital Limited 

Founded in 2014, First Ally Capital Limited is a Nigerian investment banking and financial services firm licensed by the Securities & Exchange Commission. Operating as a holding company, we have subsidiaries in corporate and investment banking, asset management, micro & digital finance, investment & securities, and real estate. Guided by our core values of trust, integrity, client focus, teamwork, innovation, and professionalism, we are committed to providing innovative financing solutions and enabling growth for our clients. 

For more information, please visit www.firstally.com. 

Media Contact: 

First Ally Capital Limited
Plot 287, Ajose Adeogun Street
Victoria Island, Lagos
Email: info@firstally.com
Phone: +234 9153860780

 

Join us in celebrating a decade of excellence as we look forward to a future filled with innovation, growth, and continued partnership with you, our valued stakeholders. 

 

 

First Ally Capital recently held its highly anticipated annual Cultural Day on September 27th 2024, a colourful and vibrant event that celebrated the rich diversity of Nigerian culture in both our Lagos and Abuja offices. This year’s festivities brought together employees from a variety of ethnic backgrounds, uniting them in a shared appreciation of their traditions, customs, and heritage.

The day commenced with employees proudly showcasing traditional attire from across Nigeria. The runway was ablaze with vivid colours and intricate patterns, as staff members confidently displayed their cultural pride. The excitement peaked with the announcement of the best-dressed male and female employees, whose stunning outfits embodied the spirit of the day.

One of the standout moments was the presence of the "BUBU ladies," affectionately referred to as "The Rich Aunty Vibes." These ladies brought an air of sophistication and glamour to the event, dressed in elegant bubu attire that truly captured the essence of Nigerian style.

Cultural performances took centre stage, with employees representing different ethnic groups through mesmerising dance and music routines. From the graceful South Western movements to the high-energy South East and South South performances and the beautiful diversity of the North and Middle Belt, the displays were met with cheers and applause, as the audience clapped along to the infectious rhythms.

Adding to the excitement, an impromptu drama presentation took place, designed to showcase the beauty and diversity of the Nigerian people and their culture. The on-the-spot performance enthralled the audience with its creativity and depth, reflecting the country’s rich storytelling traditions.

Addressing the staff, Olumayowa Ogunwemimo, the Group Executive Director praised the team for their hard work and outstanding performances. She emphasised the company’s commitment to fostering an inclusive and diverse workplace, where employees from all backgrounds feel represented and valued.

Cultural Day at First Ally Capital was a tremendous success, uniting employees in a celebration of their shared heritage. The event was a testament to the company’s dedication to promoting unity, diversity, and mutual understanding.

This year’s celebration not only highlighted the beauty of tradition but reinforced the core values of inclusivity, respect, and collaboration that define the culture at First Ally Capital.

We have become aware of an impersonation incident involving one of our directors. At First Ally Capital Limited, we prioritise security and are actively investigating this matter.

Rest assured, our commitment to upholding the highest ethical standards remains unwavering. We have initiated a thorough investigation.

Should you have any concerns or suspect fraudulent activity, please reach out to us at info@first-ally.com. Your security is our utmost priority.

We greatly appreciate your understanding and continued trust in us.

Sincerely,

First Ally Capital Limited

First Ally Capital Limited, an investment banking Group headquartered in Lagos, is pleased to announce the appointment of Mrs. Olumayowa Ogunwemimo and Mr. Tolu Osinibi as Group Executive Directors, effective from September 2023.

Mrs. Olumayowa Ogunwemimo has been an integral part of First Ally Asset Management (FAAM), the asset management subsidiary of First Ally Capital, since her appointment as Managing Director in September 2020. Her exceptional leadership has significantly contributed to the growth and success of FAAM. As a Group Executive Director, Mrs. Ogunwemimo will continue to lead FAAM, while taking on additional responsibilities within the Group.

Mr. Tolu Osinibi joined First Ally Capital in September 2023, bringing with him a wealth of experience in the financial sector. Prior to joining First Ally, he served as the inaugural Managing Director/CEO of FSDH Capital Limited, the investment banking and stockbroking subsidiary of FSDH Holding Company Limited. His previous roles include Managing Director/CEO of FCMB Capital Markets Limited and a Director at KPMG Nigeria, where he was responsible for corporate finance advisory services. Mr. Osinibi brings a wealth of experience in financial advisory and execution capabilities to First Ally.

Commenting on these appointments, Mr. Olufemi Akinsanya, Chairman of First Ally Capital, expressed his delight, stating, "We are thrilled to welcome Tolu to the expanding First Ally team and to witness Olumayowa's transition from leading our rapidly growing asset management division to taking on broader Group responsibilities."

Further discussing the appointments, Mr. Ebenezer Olufowose, Group Managing Director/CEO of First Ally Capital, remarked, "Mayowa has been a valuable asset to our company. With Tolu joining our highly skilled and experienced management team, along with the reinforcement of our Group and subsidiary Boards, First Ally Capital is well-prepared to uphold its commitment to delivering outstanding services to its clients and to realizing new business prospects and opportunities."

First Ally Capital advises Access Holdings Plc (“Access Holdings”) on the acquisition of 80% equity interest in First Guarantee Pension Limited (“FGPL”), the indirect acquisition of Sigma Pensions Limited, and the subsequent merger of Sigma Pensions Limited and First Guarantee Pension Limited leading to the creation of Access Pensions Limited.

First Ally Capital is pleased to have advised Access Holdings on its majority acquisition of First Guarantee Pension Limited and the subsequent acquisition by First Guarantee Pension Limited and First Ally Asset Management Limited of all the issued shares of Actis Golf Nigeria Limited, the sole shareholder of Sigma Pensions Limited.

Following the completion of the two acquisitions and with the approvals of the National Pension Commission and the Federal Competition and Consumer Protection Commission, Access Holdings initiated the merger between Sigma Pensions and First Guarantee Pension Limited, which was subsequently sanctioned by the Federal High Court.

First Guarantee Pension Limited was dissolved without being wound up under the terms of the merger, and the enlarged Sigma Pensions was renamed Access Pensions Limited.

L-R: Dr Biodun Arokodare, Director, First Ally Capital; Mr Anthony Uponi, Director Personal Trust; Mr Anthony Owuye, Director, Personal Trust; Mr Ebenezer Olufowose, Group Manging Director, First Ally Capital; Major Gen Obi Umahi (Rtd), Special Guest; Dr Okey Nwuke Chairman, Personal Trust; Dr Ayoola Oduntan, Director, Personal Trust; Mr Edeki Bakare, Managing Director, Personal Trust and Mr Segun Omidele, Director, First Ally Asset Management at the recent opening of the head office of Personal Trust Microfinance Bank in Lagos.

 

Personal Trust Microfinance Bank, a subsidiary of First Ally Capital, recently opened its new head office building at 32, Ikorodu Road, Jibowu, Lagos. Prior to the opening, the bank operated from 67, Ogunlana Drive, which will continue to serve its clients located in Surulere and environs.

Personal Trust was incorporated in September 1993 as Personal Trust Savings and Loans Limited and operated as a primary mortgage bank until 2014 when it was acquired by First Ally Capital and converted to a state microfinance bank. It has four branches located in Jibowu, Surulere, Sandgrouse and Bariga. With significant new investment from First Ally Capital, Personal Trust has forayed into digital banking using strategic partnerships with FinTechs.  It has invested in digital channels which enable its customers to transact business from the comfort of their homes, offices etc. The new office will not only give more people access to financial services but also draw the bank closer to its mission to serve and empower people, businesses and communities by creating wealth and enhancing lifestyles.

Speaking during the opening event, Dr Okey Nwuke, the Chairman of the board of Personal Trust said, “We are excited about the launch of our new head office. The new office provides a comfortable environment where we can change lives and impact people and businesses economically. We assure our customers that the exceptional customer satisfaction that has helped the company to thrive over the years, will be given increased impetus with the opening of our new office”.

The Group Managing Director of First Ally Capital, Mr Ebenezer Olufowose, in his remarks, noted that microfinance / digital banking is an important element of First Ally’s strategy. He noted that Personal Trust has been positioned as a digitally enabled microfinance bank adding that the Group will continue to support the bank to ensure that its capital base is robust at all times and that Personal Trust drives innovation in its chosen segment of the financial services industry.

 

FIRST ALLY ART CATALOGUE

First Ally Capital is proud to showcase the stunning modern and contemporary artworks loaned from the Femi Akinsanya Art Collection FAAC, at our new corporate headquarters.

These art pieces represent some of the best works of art from artistic pioneers as well as leading and emerging artists from Nigeria and the African Continent. Our Group is driven by excellence and integrity through commitment to ethical behaviour, innovation and quality. As such, not only do the art pieces beautify and transform our space, they also stimulate our drive for innovation and excellence; they whet our appetite for continuous improvements; they reinforce our commitment to making First Ally the best place for smart, inquisitive and ambitious people to thrive; and they resonate well with our core objectives of providing innovative financing solutions and enabling growth.

We trust that our clients and other stakeholders will appreciate these beautiful artworks as much as we do.

My thanks go to our Chairman, Mr Olufemi Akinsanya, for generously loaning us these exciting artworks from his Collections. We are hugely indebted to him for his wonderful support to the First Ally Group. My gratitude also goes to Mrs Sandra Mbanefo Obiago for the beautiful display of professionalism in curating this corporate art collection in our office.

It was a great delight working with her on this very important assignment.

Ebenezer Olufowose

Managing Director/CEO
First Ally Capital Limited