First City Monument Bank (FCMB) is positioning culture as a key economic driver by leveraging platforms such as the Ibadan Cultural Festival. This initiative aims to support small businesses, enhance financial inclusion, and connect local enterprises to broader markets. As a lead partner in the festival organized by the Central Council of Ibadan Indigenes (CCII), the bank recognizes cultural gatherings as viable commercial ecosystems. These events bring together thousands of vendors, creatives, and service providers, generating significant economic activity.
During a press conference in Ibadan, FCMB’s Divisional Head of Corporate Affairs, Diran Olojo, emphasized the bank’s commitment to enabling participation, supporting business growth, and capturing transaction flows within these ecosystems. He stated, “We see culture as a functioning marketplace. Events like this concentrate demand, talent, and enterprise in one place.” Olojo highlighted that FCMB’s role is to assist businesses in accessing finance, gaining visibility, and utilizing systems that facilitate transactions and growth. He noted that the festival stimulates activity across various sectors, including hospitality, retail, transport, and the creative industries, while also attracting diaspora engagement that bolsters remittance flows and local investment.
The Ibadan Cultural Festival, also known as Okebadan, attracts residents, indigenes, and visitors, leading to a surge in commercial activity throughout the city. Barrister Ajeniyi Ajewole, the President-General of the CCII, remarked that the festival has evolved into both a cultural and economic platform. He stated, “It drives tourism, supports local businesses, and creates an opportunity for Ibadan indigenes in the diaspora to return, reconnect, and contribute to the city’s growth.” Ajewole further noted that FCMB’s involvement reflects the increasing interest of the private sector in culture-led development.
Mogaji Gbolagade Akere, Chairman of the Planning Committee, mentioned that the 2026 edition of the festival is designed to enhance Ibadan’s profile as a tourism and investment destination. The planned activities will combine cultural expression with economic engagement. FCMB’s participation aligns with a broader strategy to build ecosystems that connect informal and small-scale businesses to finance, markets, and opportunities for growth.
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