First Bank of Nigeria Limited has said it is providing loan facilities of up to N1m to its banking agents.
The bank said this in a statement on Tuesday titled ‘Firstbank empowers its firstmonie agents with up to N1m’.
According to the statement, it has over 86,300 Firstmonie agents, spread across the country’s 772 Local Government Areas.
FirstBank said with its location in every neighbourhood, Firstmonie agents had been integral to filling the financial exclusion gap, providing convenient banking services that were easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments that have no access to financial services.
The bank said its financial inclusion activities were in line with the mandate of the Central Bank of Nigeria to ensure the availability of affordable financial products and services to all individuals and groups of people in the country, irrespective of location, literacy levels, familiarity with technology and accessibility to modern infrastructural facilities.
The Firstmonie agent channel was among the bank’s many initiatives to expand financial access in the country, it stated.