First Bank: We disbursed N100bn loan to over 120,000 Firstmonie agents in one year

First Bank of Nigeria (FBN) says over 120,000 of its Firstmonie agents across the country have been economically empowered with a total sum of N100 billion.

The bank said the loans were disbursed through its Firstmonie agent credit scheme since its launch about a year ago.

It said the initiative to give out loans was to further promote financial inclusion in the country as well as expand the business activities of Firstmonie agents.

The agent credit scheme was created by the bank to promote and expand the business activities of its foremost agent banking platform – Firstmonie agents – whilst putting them at an advantage to positively impact their immediate environment.

It currently has over 120,000 Firstmonie agents, spread across 772 LGAs in the country.

Commenting on the development, Chuma Ezirim, First Bank group executive of e-business and retail products, 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 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.”