FirstBank Provides Loan To Its Over 86,300 Agents Across 772 Council Areas

FirstBank Provides loan facilities to its over 86,300 Firstmonie agents

OpenLife Nigeria reports that First Bank provides loan facilities to its Firstmonie Agents
How FirstBank provides the loan is contained in a statement signed by Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications and made available to OpenLife.
The statement reads:

“In furtherance of the need to promote the business activities of its foremost agent banking platform – Firstmonie Agents – Nigeria’s leading financial inclusion services provider, First Bank of Nigeria Limited, has announced the provision of loan facilities – up to one million naira – to its banking agents. The Bank currently has over 86,300 Firstmonie Agents, spread across the country’s 772 Local Government Areas.

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.

The Bank’s financial inclusion activities 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 amongst the Bank’s many initiatives to expand financial access in the country.

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

“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.”