First Bank Collaborates With CDC To Provide A US$100 Million Lending Facility To Women And Small Business Owners

First Bank of Nigeria Limited, Nigeria’s flagship and a leading supplier of financial inclusion services has announced a US$100 million finance facility with CDC Group, the UK Government’s development finance organization. This new investment will target women-owned and led firms, as well as Nigerian small and medium-sized enterprises (SMEs). The agreement will assist FirstBank supply financial solutions that address the challenge of limited access to capital experienced by the country’s underbanked and underserved groups. A minimum of US$30 million will be granted to women entrepreneurs as part of the new investment in the form of loan lines. The facility will […]



First Bank collaborates with NIBSS to promote digital payments.

First Bank of Nigeria Limited announced a collaboration with the Nigeria Inter-Bank Settlement System Plc on its recently established Nigeria Quick Response payment service. The NQR, it said in a statement on Wednesday, was a novel payment method implemented for all financial service providers and aimed to promote quick and easy transactions by scanning the code on a mobile device. According to the bank, the program lowered costs for merchants and banks by providing quick value for person-to-person and person-to-business transactions by just scanning to pay. Unlike other QR schemes, the NQR was established with lower charges that were less[…]



The First Bank Loan To Firstmonie Agents In A Year Has Reached N100 Billion

The First Bank Loan To Firstmonie Agents In A Year, Has Reached N100 Billion First Bank of Nigeria Limited says it had given out N100 billion to its 114,000 Firstmonie agents dispersed across the country’s 772 local government areas, one year after launching its agent credit scheme. The bank’s agent banking network, according to the bank, is part of its effort to enhance financial inclusion in the country while also creating jobs and empowering its consumers. The agent credit scheme was designed by the First Bank to encourage and expand the commercial activities of its leading agent banking platform, Firstmonie[…]