Firstmonie agents process N22trn in 1 billion transactions

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First Bank of Nigeria Limited, said its banking agent network, Firstmonie Agent, has processed over a billion transaction volume amounting to over N22 trillion, affirming its leading role in banking services through agents.

The bank said the number of its Firstmonie agents spread across the nooks and crannies of the country is now over 180,000 operating in the country’s 772 local government areas.

Firstmonie agents have played a vital role in bringing financial services closer to the underbanked and unbanked segment of society, providing convenient and easily accessible banking services, saving time and travel costs for people from suburbs and remote environments without access to financial services.

Since 2020, FirstBank has economically empowered thousands of its Firstmonie agents with over N100 billion in credit facilities

Expressing his gratitude to the Firstmonie agents, FirstBank Chief Executive Dr Adesola Adeduntan said: “Since relaunching our banking agent program in 2018, our Firstmonie agents have played a vital role in bridging the gap in financial inclusion in the country, as many more people have been able to undertake various financial and business transactions in a cost-effective manner, thereby saving a lot of time and money from traveling long distances to obtain basic banking services.

“We are delighted with the giant strides of our Firstmonie agents in promoting financial inclusion and commend them for their efforts in bringing banking services to the doorsteps of Nigerians – wherever they are – in a very efficient way,” said he concluded.

Commonly referred to as “human ATMs”, Firstmonie agents are empowered to reduce reliance on over-the-counter transactions while providing convenient personalized services. Some of the services provided by agents include; Account opening, cash deposit, purchase of airtime, bill payment, withdrawals and money transfer.

Through various empowerment and reward programs implemented to give its Firstmonie Agents an edge to make an economic impact in their immediate communities while maintaining their business, the Bank‘s Banking Agent Program has remained a toast to Nigerians wherever they are in the country. Among these programs is Agent Credit – launched in 2020 – which has enabled the Bank to provide credit facilities of up to N238 billion to its many Firstmonie agents.

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