Saturday, July 5, 2025
23 C
Lagos

First Bank Deepens Financial Inclusion via Agent Banking Network, Empowers SMEs

Adesola Adeduntan
CEO
First Bank

At present, there are over 86,000 banking agents across 772 out of the 774 local government areas in Nigeria, a demonstration of First Bank of Nigeria’s commitment to deepening financial inclusion and ensuring the unbanked are adequately catered for.
Mr. Adesola Adeduntan, First Bank’s CEO, noted that over N9.6 trillion had been processed through the bank’s agent network.
As he explained, FirstMonie agents have supported several government and NGOs’ cash transfers to the poorest of the poor in the rural areas. Additionally, selected FirstMonie agents in the rural communities are equipped with BVN enrolment devices; as such they are able to enrol and open accounts for rural dwellers that hitherto may not have had the opportunity to be included in the formal financial services system.
The bank’s commitment to providing access to finance for Small and Medium Enterprises (SMEs) was also highlighted by the CEO, who hinged this on “their potential to impact the economy.”
He discussed the bank’s value adding solutions that have created a functional ecosystem for SMEs to thrive. The ecosystem includes propositions such as connection of the SMEs to talents and resources/cutting edge tools, access to business finance and market, capacity building opportunities and policy advocacy.
These are all aggregated on its SMEConnect platform as value adding products and services for easy access and at rates (prices) that are competitive and mostly discounted. The SMEConnect is a digital platform that allows the SMEs connect to FBN’s offerings from the comfort of their locations anywhere in the world.
This, according to Adeduntan, has been well received by the SME community as we engage across the country.

spot_img
spot_img
spot_img

Hot this week

MTN, 9mobile Ink National Infrastructure Partnership Deal

L-R: Abolaji Idowu, Chief Financial Officer, 9mobile; Omotola Ojutayo,...

Stanbic IBTC Holding’s N148bn Rights Issue Oversubscribed by 21.9%, Injects N140bn into Stanbic IBTC Bank

Acting Group CE Statement Commenting on the just concluded rights...

NAICOM Hands over New Licences to SanlamAllianz Life, General Insurance

The National Insurance Commission (NAICOM) today handed over new...

Access Bank Highlights Leadership at Climate Governance Initiative Launch

Access Bank Plc has once again demonstrated its leadership...

Fidelity Bank Extends Relief Efforts to Eti-Osa Community with Food Bank Initiative

Henry Asiegbu, Divisional Head, Operations, Fidelity Bank Plc (Left);...

Topics

African Airlines to Lose $6bn Revenue over COVID-19

  The International Air Transport Association (IATA) renewed its call...

Emirates Invests $2bn to Enhance On-Board Customer Experience

Emirates is investing over US$ 2 billion to enhance...

‘Kemi Adeosun Must Renounce Allegation of NYSC Fraud or Resign’

Kemi Adesoun in NYSC uniform: Real or Photoshop? BudgIT Nigeria,...

Freedonia: Global Demand for Fuel Additives to Surge by 2016

Global demand for fuel additives will increase 4.7%/year to...

Prof. Uchenna Uwaleke to Keynote GOCOP 2023 Conference

The first Nigerian Professor of Capital Market, Prof. Uchenna...

Bank Fraud Threatens CBN Cashless Policy

Researchers at the University of Ibadan have warned that...
spot_img

Related Articles

Popular Categories

spot_imgspot_img