By InvestAdvocate

Lagos (INVESTADVOCATE)-Foremost registrar in Nigeria, First Registrar Ltd will Tuesday morning unveil a new brand identity in the name of First Registrars & Investor Services Ltd.

The rebranding which has being in the making for close to two (2) years now as InvestAdvocate can reliably affirm; because it has been following up will today be unveiled to the Press.

First Registrars was a wholly owned subsidiary of First Bank of Nigeria Plc until December 2012 following a resolution passed at the Court-Ordered-Meeting that First Bank should divest its entire holdings in First Registrars in line with Central Bank of Nigeria (CBN) directives.

In September 2010 CBN under Lamido Sanusi directed that banks in Nigeria should adopt a new banking model which required them to sell all non-core businesses and form a holding company if they intend to carry out insurance, asset management and capital market activities.

CBN said the move was to ensure banks are effectively supervised and to ensure the safety of depositors’ funds by prohibiting them from speculative capital market activities.

First Registrars is currently managing registers with three (3) million shareholders spread all over the federation, according to information obtained from the company’s official website.