First bank loan to Firstmonie agents reaches 100 billion naira in one year


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A year after launching its agent credit program, First Bank of Nigeria Limited said it had distributed N100 billion to its 114,000 Firstmone agents in the country’s 772 local government zones.

According to the bank, its network of banking agents is part of its drive to increase the level of financial inclusion in the country while creating jobs and empowering its customers.

A statement from the bank explained that the Agent Credit Program was created by First Bank to promote and expand the business activities of its main agent banking platform, Firstmonie Agents, while enabling them to have a positive impact on their immediate environment.

The Firstmonie agent network, which is one of the bank’s many initiatives to expand financial access in the country, has been instrumental in bridging the financial exclusion gap, providing convenient and easily accessible banking services. , thus saving time and travel costs for people living in suburbs and remote areas. environments that do not have access to financial services.

Reiterating First Bank’s role in deepening financial inclusion in the country, Group Director, Bank’s e-commerce and retail products, Chuma Ezirim, said, “We are really excited about the significant impact of agent credit on the performance of our Firstmonie agents nationwide. Since the introduction of agent credit to support our “human vending machines,” as we affectionately call our Firstmonie agents, they have experienced immense growth in their business, to levels they had never envisioned in such short time. of time.

“Our main goal is to continue to provide financial services to underserved and unbanked populations, using modern technology for real-time transaction processing and, in so doing, contribute to capacity building and learning of new information technology, cash management and relationship management skills for our FirstMonie agents.

“We encourage our Firstmonie agents to continue to be exemplary in setting the tone for promoting financial inclusion as we collectively work for the continued growth and development of the national economy. “

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