First Bank Makes N1trn in Firstmonie Network Transactions

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First Bank of Nigeria Limited, has announced that its Firstmonie network has processed a cumulative transaction value of N1 trillion from its relaunch in January 2018.

The network also achieved nationwide coverage in record time, enabling access to financial services for many locations that never had a way for its residents to access financial services in line with the Central Bank of Nigeria (CBN)’s objective of bringing banking services close to all Nigerians, irrespective of where they live.

According to the reports on the bank’s website, Firstmonie service provides financial/banking solutions to rural and semi-urban locations across the country, such as account opening, cash deposit, cash withdrawals, airtime purchase, bill payments and much more.

Through this channel, the Bank is committed to providing convenient services that endears trust and provides ease of access to banking products, thereby saving time and travel costs for users of our network.

In the report, the Chief Executive Officer of the bank, Dr. Adesola Adeduntan said: “The Firstmonie scheme is supporting the federal government’s empowerment and job creation agenda as over 22,000 Nigerians, through this scheme, contribute to the increased economic activities of their neighborhoods. Our partner network is growing and we are particularly delighted about the progress we are making in actively driving nationwide financial inclusion, exposing communities to opportunities for growth, jobs, empowerment, and improved live conditions. Yet again, we are delighted to score another first in promoting financial inclusion in the country.

“We appreciate our partner network and remain committed to working together to achieve even greater impact on the lives of Nigerians.”

It is on record that First Bank is the leading banking services solutions provider in Nigeria for 125 years. With some 15 million customer accounts, the bank provides a comprehensive range of retail and corporate financial services with over 750 business locations.

According to Folake Ani-Mumuney, the Group Head, Marketing & Corporate Communications of First Bank, the Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

Ani-Mumuney noted that since its establishment in 1894, the bank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has also led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes.

Samson Oyedeyi

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