The Nation (Nigeria)

Firstbank boosts financial inclusion with N100b

- Stories by Collins Nweze

FIRST Bank of Nigeria Limited has loaned N100 billion to Firstmonie in line with its commitment to promoting financial inclusion.

The loan extension occurred barely a year after the bank launched its agent credit scheme.

The bank has been at the forefront of promoting financial inclusion in the country, impacting Nigerians, regardless of their locations nationwide.

The bank currently has over 114,000 Firstmonie Agents, spread across 772 Local Government Areas in the country.

The Agent Credit scheme was created by the bank to promote and expand the business activities of its foremost agent banking platform Firstmonie Agents whilst putting them at an advantage to positively impact their immediate environmen­t.

Firstmonie agents have been integral to bridging the financial exclusion gap, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individual­s in the suburbs and remote environmen­ts that have no access to financial services.

The bank’s 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. The Firstmonie Agent channel is amongst the Bank’s many initiative­s to expand financial access in the country.

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