Nigeria’s financial services giant, First Bank of Nigeria Limited (FirstBank) has announced that its 86,300 Firstmonie agents, spread across the nation’s 772 local government areas, can access up to N1m loan facilities from the Bank.
The latest offering, according to the Bank’s Group Executive, e-Business and Retail Products, Chuma Ezirim, is aimed at supporting the Firstmonie agents in promoting businesses across the nooks and crannies of the country.
Chuma said: “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.
“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.”
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 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.