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FBN Processes N1tr Via Firstmonie In 15 Months



Volume of transactions consummated on Firstmonie, a First Bank of Nigeria Limited (FBN) mobile money platform, has hit N1 trillion within 15 months the bank has said.

FBN had re-launched the mobile money platform in January 2018 to drive its spread across the country. The N1 trillion transaction volume was from January 2018 up till March 2019.According to chief executive officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, “the Firstmonie scheme is supporting the Federal Government’s empowerment and job creation agenda as over 22,000 Nigerians, through this scheme, contribute to the increased economic activities of their neighborhoods.“Our partner network is growing and we are particularly delighted about the progress we are making in actively driving nationwide Financial Inclusion, exposing communities to opportunities for growth, jobs, empowerment, and improved live conditions. Yet again, we are delighted to score another first in promoting financial inclusion in the country.

“We appreciate our partner network and remain committed to working together to achieve even greater impact on the lives of Nigerians,” he stated.

Adeduntan furthered that the network also achieved nationwide coverage in record time, enabling access to financial services for many locations that never had a way for its residents to access financial services.

Central Bank of Nigeria (CBN)’s objective of bringing banking services close to all Nigerians, irrespective of where they live.

FirstBank’s Firstmonie service provides financial/banking solutions to rural and semi-urban locations across the country, such as account opening, cash deposit, cash withdrawals, airtime purchase, bill payments and much more.

Through this channel, the bank is committed to providing convenient services that endears trust and provides ease of access to banking products, thereby saving time and travel costs for users of our network.