- First Bank’s Firstmonie Hits 500,000 Daily Transactions
The volume of transactions processed daily by Firstmonie network rose to over 500,000 per day, according to the owner, First Bank of Nigeria Limited.
Dr. Adeshola Adeduntan, the Managing Director of the bank, who speaks at the agent banking national award ceremony organised by the bank in Lagos, said Firstmonie agent network is the means through which the bank provides financial services to low-income earners.
He noted that through the network the bank has been able to attract a reasonable number of the unbanked into the financial system, saying the gap that exists between the technology savvy and the low literacy clients had been breached through Firstmonie agent network.
According to Adeduntan, “Through Firstmonie, First Bank has remained at the forefront of driving nationwide inclusion, given our belief that access to financial services, is part of lifting people out of poverty and fostering collectivity national economic development.
“We have through this network created job opportunities and improved lives, provided convenient access to financial services and driven equality. Firstmonie has become a tool for driving federal government financial inclusion and sustainable development goals in Nigeria, as well as increase our bank’s footprint and reach.
“We have effectively positioned financial inclusion as the core of our business strategy and through first money; we are successfully solving social challenges.
“My special appreciation goes to all Firstmonie agents. As a result of Firstmonie agency network, First Bank has become the foremost financial inclusion provider, with over 37,000 agents in all states of the federation. This is a feat we are extremely proud of. But we assure that we are going to push the frontiers. We have deemed it fit to honour the champions who made Firstmonie success story possible, such as agents, partners and service providers, our regulator the CBN, Bill and Melinda Gates Foundation and others.”