FCMB Taps Cultural Economy to Drive Inclusion

Kayode Tokede

First City Monument Bank (FCMB) said it is positioning culture as an economic engine, leveraging platforms such as the Ibadan Cultural Festival to support small businesses, deepen inclusion, and connect local enterprises to broader markets.

As a lead partner in the festival organised by the Central Council of Ibadan Indigenes (CCII), the Bank said cultural gatherings are fast becoming viable commercial ecosystems, bringing together thousands of vendors, creatives, and service providers to drive real economic activity.

Speaking at a press conference in Ibadan, FCMB’s Divisional Head of Corporate Affairs, Diran Olojo, said the Bank’s approach is to enable participation, support business growth, and capture transaction flows within these ecosystems.

“We see culture as a functioning marketplace. Events like this concentrate demand, talent, and enterprise in one place. Our role is to help businesses plug into that, through access to finance, visibility, and the systems that support transactions and growth,” he said.

President-General of the CCII, Ajeniyi Ajewole, said the festival has become both a cultural and economic platform.

“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,” he said.

Chairman of the Planning Committee, Mogaji Gbolagade Akere, said the 2026 edition is structured to strengthen Ibadan’s profile as a tourism and investment destination, with activities that combine cultural expression and economic engagement.