To further promote the business activities of Firstmonie Agents, First Bank of Nigeria Limited has announced loan facilities of up to N1 million for the banking agents.
The bank disclosed on Tuesday that over 86,300 Firstmonie agents spread across the 774 councils in the country.
“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 financial inclusion service provider stated.
The banking financial inclusion activities are in line with the mandate of the Central Bank of Nigeria.
“The Bank’s financial inclusion activities is 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,” FirstBank explained.
The bank further stated that the Firstmonie Agent channel was among its initiatives to expand financial access in the country.
FirstBank’s Group Executive, e-Business and Retail Products, Mr. Chuma Ezirim, said, “The roles played by our Firstmonie agents in promoting businesses across the nooks and crannies of the country cannot be over-emphasised, 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. We commend our agents and are delighted to support them with credit facilities, which they can access 24hours a day in less than two minutes.”