First Bank Firstmonie Agents Processes 1bn Transaction Worth N22trn

First Bank of Nigeria Limited, has announced that its agent banking network – Firstmonie agents across the country has collectively processed transaction volume in excess of 1 billion, amounting to over 22 trillion naira.

The bank in a statement said itcurrently 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 personalized services. Amongst the services carried out by the Agents include; Account Opening, Cash Deposit, Airtime Purchase, Bills Payment, Withdrawals and Money Transfer, “the bank said.

Expressing his appreciation to the agents, CEO, FirstBank, Dr. Adesola Adeduntan, 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.