FBNQuest Merchant Bank has officially confirmed the successful completion of its ownership transition, signaling a major strategic shift following its divestment from its former parent company, First HoldCo Plc.
The bank is now under the ownership of EverQuest Acquisition LLP, a new investor consortium led by the notable Custodian Investment Plc. The confirmation concludes the acquisition process, which was previously reported to the Nigerian Exchange Limited (NGX).
Commenting on the landmark transaction, the Acting Managing Director of FBNQuest Merchant Bank, Afolabi Olorode, stated that the transition marks a pivotal moment for the institution.
“This marks a defining milestone in the Bank’s journey, one that reflects our consistent performance, institutional strength, and long-term potential,” Olorode said. “As we move forward under new ownership, our focus remains unchanged: delivering exceptional value to stakeholders, deepening market leadership, and building a sustainable institution for the future.”
The management emphasized that the new ownership structure is expected to facilitate expanded growth opportunities and reinforce the bank’s stability within the competitive merchant banking landscape.
Olorode also reassured the bank’s existing clientele and stakeholders that the transaction would not disrupt operations. “The Bank remains fully operational, and all client relationships, services, and leadership structures continue uninterrupted,” he affirmed.
The confirmation of the new ownership structure officially sets the stage for FBNQuest Merchant Bank’s next chapter of growth under the guidance and backing of the EverQuest Acquisition LLP consortium.
