In a landmark achievement that underscores its leadership in digital innovation and financial inclusion, First Bank of Nigeria Limited (FirstBank) has announced that it has disbursed over ₦1 trillion in cumulative instant digital loans to individuals and small businesses nationwide.
This significant milestone comes just six years after the bank introduced its first digital loan in August 2019, cementing its role as a frontrunner in democratising access to credit in Nigeria and beyond.
Leveraging cutting-edge technologies such as Artificial Intelligence (AI) and Machine Learning (ML), FirstBank has built a resilient and accessible digital lending ecosystem tailored to Nigeria’s diverse population.
This ecosystem enables customers to access credit without collaterals, documentation, or in-person interactions, ensuring speed, security, and convenience for millions.
Through its digital lending products, FirstAdvance, FirstCredit, and AgentCredit, over 1.5 million unique borrowers have secured instant loans, whether they are salary earners, informal workers, or micro-entrepreneurs.
These loans can be accessed via FirstBank’s various digital platforms, including the *894# USSD code, FirstMobile app, LitApp, and the FirstMonie Agent App.
Speaking on the milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, emphasised the significance of this accomplishment:
“This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values.
“Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.”
Ezirim also reaffirmed the bank’s pledge to continue empowering underserved and excluded communities through responsible lending practices:
“We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”
Currently, the bank disburses approximately ₦1 billion in digital loans every single day, a figure that speaks volumes about the growing reliance on its digital platforms and the critical role it plays in providing financial lifelines to individuals and businesses alike.
All rights reserved. The content on this website, including text and other digital materials, may not be reproduced, published, broadcast, rewritten, or redistributed, in whole or in part, without the express written consent of The News Accelerator Network.
For advertising inquiries, news coverage, or press releases, please get in touch with us at
📧 thenewsacceleratornetwork@gmail.com
📞 0805 101 7159, 0814 404 8512.
إرسال تعليق