First Bank gives N100bn loan to Firstmonie agents

First Bank said it has given N100 billion loan to over 114,000 Firstmonie agents nationwide.

In a statement yesterday, the bank said its Agent Credit scheme was launched last year to empower its agents to grow their businesses.

Barely a year after the launch, it said it has economically empowered its Firstmonie agents with the N100bn across 772 Local Government Areas.

The Bank said its financial inclusion activities are in line with the mandate of the Central Bank of Nigeria (CBN) to ensure the availability of affordable financial products and services to all individuals and groups of people in the country, irrespective of location, literacy levels, familiarity with technology and accessibility to modern infrastructural facilities.

Commenting, Group Executive, e-Business & Retail Products, Chuma Ezirim, said “We are truly excited about the tremendous impact of the Agent Credit on the performance of our Firstmonie agents nationwide. Since the introduction of the Agent Credit to support our ‘Human ATMs’ as we fondly call our Firstmonie agents, they have recorded immense growth in their businesses, at levels they never envisaged in such a short period.”