First Bank offers N1m loan as Firstmonie agents cross 86,000

Over 86,300 Firstmonie agents, spread across 772 local government areas in Nigeria can access up to N1 million loan facilities, as First Bank of Nigeria rolls out an initiative to promote the business activities of its foremost agent banking platform – Firstmonie agents.

With its location in every neighbourhood, Firstmonie Agents have been integral to filling 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, said First Bank in a statement.

The bank’s financial inclusion activities, the statement noted, is 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 among the bank’s many initiatives to expand financial access in the country.

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“The roles played by our Firstmonie Agents in promoting businesses across the nooks and crannies of the country cannot be overemphasised as they have continued to set the pace in extending financial inclusion to communities with little or no access to financial services,” said Chuma Ezirim, group executive, e-business & Retail Products, First Bank of Nigeria Limited.

“With our Firstmonie Agents in every neighbourhood, several communities have witnessed a surge in business and financial activities, which is contributory to national growth and development. We commend our Agents and are delighted to support them with credit facilities, which they can access 24hours a day in less than 2minutes,” he said while appreciating the work done by the agents.