Financial Inclusion: How we empower Firstmonie agents with N100bn loan ─FirstBank

*The financial institution says its fundamental goal is to continue to deliver financial services to the underserved and unbanked consumers while applying modern technology for processing real-time transactions

Emmanuel Akosile | ConsumerConnect

As part of the financial institution’s products to bridge the financial exclusion gap and provide accessible convenient banking services to consumers, First Bank of Nigeria (FBN) Limited has announced it has economically empowered its Firstmonie Agents N100 billion.

Barely a year after Nigeria’s leading financial inclusion services provider launched its Agent Credit scheme, the bank currently has over 120,000 Firstmonie Agents spread across 772 Local Government Areas (LGAs) of the country, according to report.

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

ConsumerConnect learnt the Firstmonie Agent channel is among the bank’s many initiatives to expand financial access in the country.

Firstmonie Agents, report says, 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 in Nigeria.

The Bank’s financial inclusion activities are in line with the mandate of the Central Bank of Nigeria 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.

Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, in reiterating the financial institution’s role in deepening financial inclusion in Nigeria was quoted to have 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.

Ezirim also stated: “Our key goal is to continue to deliver financial services to the underserved and unbanked populations, employing modern technology for processing real-time transactions and 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 towards the continuous growth and development of the national economy.”

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