Intercontinental Bank

[1] Prior to the merger, Intercontinental Bank was a large financial services provider in West Africa.

That same year, the first subsidiary, Intercontinental Securities Limited, was established.

In 2002, the company listed its shares on the Nigerian Stock Exchange.

Following the injection of capital by the Federal Government of Nigeria, to maintain solvency, the troubled banks embarked on re-capitalization through participation by new investors.

Prior to the merger, the Chairman of the Board was Raymond C. Obieri, while the Managing Director and Chief Executive Officer was Mahmud Lai Alabi.