FIRST Bank of Nigeria
Limited has successfully
recertified to the Payment
Card Industry Data Security
Standard (PCI DSS) version
3.2, having been one of the
first top-tier banks in Nigeria
to obtain the PCI DSS
certification in 2014. This
recertification reaffirms the
Bank’s leading position in
the payment card industry in
Nigeria. Recently, FirstBank
was named the first financial
institution in Nigeria
and the West-Africa subregion
to issue 10 million
cards to customers across
the country. This makes
FirstBank the second bank
in Africa to achieve this feat.
With this milestone, the Bank
has maintained a 95% active
card ratio and currently
processes about 33% of card
transactions in the entire
banking industry.
The Payment Card Industry
Data Security Standard (PCI
DSS) is a set of requirements
designed to ensure
companies that process, store
or transmit credit/debit
card information, maintain
a secure environment
thereby guaranteeing the
protection of cardholder data
throughout the transaction
process. The award of this
certificate is a strong indicator
that FirstBank consistently
has its customers’ interest
at the core of its business
operations, is committed
to securing customer
information as well as
maintaining a safe and secure
environment for customer
transactions. Consequently,
the Bank presently has a card
transaction volume of over
2700 per minute with one in
every three card transactions
being a FirstBank card.
According to the MD/
CEO, First Bank of Nigeria
Limited and Subsidiaries,
Dr. Adesola Adeduntan,
the Bank’s recertification is
a testament to the Bank’s
high level operational
standards and its strict
adherence to international
security standards and other
regulations. ”In an era of
increasing sophisticated
attacks on systems; adhering
to the PCI DSS represents an
organisation’s best protection
against cybercrime. FirstBank
remains committed to
excellent information
security management and
would continue to apply

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the PCI DSS in its business
practices” he further stated.
It is worthy of note that
FirstBank recently won
three Interswitch awards in
Electronic Payment as the
fastest Mobile Penetration
Bank across Africa, the
Highest Card Transacting
Bank and the Highest Issuer
of Verve Cards. These are
clear indications that the
giant strides taken by the
Sub-Saharan leading bank
brand towards fostering its
banking technologies are
well aligned to the fast-paced
technological advancement
in today’s ever evolving
financial ecosystem.

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