FirstMonie agents make over ₦1bn transactions as FirstBank ensures financial inclusion

Dr Adesola Adeduntan CEO First Bank of Nigeria Ltd

First Bank of Nigeria Limited (FirstBank) has announced that its agent banking network, Firstmonie agents, has collectively processed transaction volume in excess of ₦1 billion, amounting to over ₦22 trillion.

The bank currently has over 180,000 Firstmonie agents spread across the country’s 772 local government areas.

Firstmonie Agents have been integral to bringing financial services closer to the underbanked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.

Popularly referred to as the ‘Human ATM’, Firstmonie agents are empowered to reduce the reliance on over-the-counter transactions while providing convenient personalised services. Among the services carried out by the agents are account opening, cash deposit, airtime purchase, bills payment, withdrawals and money transfer.

Expressing his appreciation to the Firstmonie agents, Adesola Adeduntan, CEO of FirstBank said, “Since the relaunch of our Agent Banking scheme in 2018, our Firstmonie Agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways, thereby saving a lot of time and money in travelling over long distances for basic banking services.”

“We are delighted by the giant strides of our Firstmonie Agents in promoting financial inclusion and commend them for their efforts in taking banking to the doorsteps of Nigerians – irrespective of where they are – in a very effective way,” he concluded.