FirstBank Reinforces Financial Inclusion With New Market Activations

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 Thursday, January 03, 2019   03:30PM / By First Bank

 

Responding swiftly to a changing financial services environment, First Bank of Nigeria has taken its financial inclusion campaign to 14 new markets in the three states of country, namely; Bayelsa, Cross River, and Delta States. 

The market activation campaign ran for a period of over three weeks stretching from November 24 to December 16, 2018 and represented a period of intense customer engagement, education and awareness for the bank’s Firstmonie Agent Network. 

The market activation took place in Ogbonogo Market, Koka Junction, Bonsac Junction, Ibusa Junction (Delta States) while Calabar, Cross River State had the event at Mobil Junction, Etagbor Junction, Watt Market, Marian and Etim Edem Markets. Swali, Tomba, Opolo and Nembe communities also felt the impact of our activation campaign in Bayelsa State.

 

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Source: EfinA, National Bureau of Statistics (NBS)

*Compounded annual growth rate

**Financial Services provided by non-deposit money bans e.g. microfinance, pension. 

 

Over a period of 18 months, First Bank of Nigeria’s FirstmonieAgent Network has expanded to almost every Local Government Area in Nigeria (representing coverage of 98%) showing the banks preparedness to deepen financial inclusion across the country. 

According to officers of the bank, Firstmonie Agents have been positioned within rural and semi-urban locations across the country to provide basic financial services such as account opening, cash deposit, cash withdrawals, airtime purchases, bill payments and several other standard banking transaction solutions. First Bank notes that through its growing agency channels, it is committed to providing convenient services that encourage trust, ease of access to financial products, and significant reduction in travel cost time. According to the bank, the transactions carried out through these channels are secure and properly authenticated. 

Financial observers have noted that the Agent Banking model, which is in line with the mandate of the Central Bank of Nigeria (CBN) is targeted at ensuring that members of the public regardless of their levels of literacy or familiarity with technology or income levels gain access to top rate financial services. 

According to the Group Head, eBusiness, First Bank of Nigeria Limited, Chuma Ezirim, “With our Firstmonie Agents spread across the country, we are aggressive at increasing the penetration of financial services, especially in the suburbs whilst significantly reducing the unbanked in the country. We encourage the patronage of Firstmonie Agents irrespective of the location as these Agents are well trained to provide the FirstBank Gold Standard Services to customers.”


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