First Bank empowers Firstmonie agents with N100bn Loan

First Bank of Nigeria Limited

First Bank of Nigeria Limited through its agent credit scheme has economically empowered Firstmonie agents with the sum of N100 billion.

This was revealed by FirstBank Group Executive, e-Business & Retail Products, Mr Chuma Ezirim, in a statement issued during the week in Lagos.

Ezirim asserted that the agent credit scheme was created by the tier-1 bank to advance and promote the business activities of its foremost agent banking platform – Firstmonie Agents. He also added that the initiative will help further the bank’s financial inclusion drive, impacting Nigerians, irrespective of they are domiciled.

READ: FirstBank Grants Loan Facilities to Money Agents

 Commenting on the recent development, 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.

“Our key goal is to continue to deliver financial services to the underserved and unbanked population , employing modern technology for processing of real time transactions.

“In doing so, contribute to building capacities and learning new skills in information technology, cash management and relationship management for our Firstmonie agents.

“We encourage our Firstmonie agents to keep being exemplary in setting the pace to promote financial inclusion as we collectively work toward the continuous growth and development of the national economy,” he said.

Recall that the ‘agent credit scheme’ was launched a year ago to empower Firstmonie agents to grow their businesses, whilst contributing to national development. Firstmonie agents had been integral to bridging the financial exclusion gap, providing convenient banking services that were easily accessible, thereby saving time and travel costs for individuals in remote places.

Naijabusiness.com.ng gathered that first bank currently has over 114,000 Firstmonie agents, spread across 772 local government areas in the country.