First Bank Promotes Diaspora Remittances, Rewards Customers with Extra N5 for Every Dollar Received

Proshare

Monday, March 08, 2021 / 12:51 PM /FirstBank Header Image Credit: FirstBank 



Proshare Nigeria Pvt. Ltd.


First Bank of Nigeria Limited, Nigeria's leading financial inclusion services provider is rewarding customers with N5 for every dollar received through foreign remittances. This N5 for a dollar incentive is paid to FirstBank's customers regardless of their preference to collect the USD as cash across the counter in any of the Bank's over 750 branches nationwide or as transfer into the customers domiciliary accounts.

 

The reward to customers is in line with the Central Bank of Nigeria's 'Naira 4 Dollar scheme', driven to promote diaspora remittances into the country. For example, a customer that receives 10,000 USD, gets N50,000.00 as reward. The scheme runs from Monday, 8 March - Saturday, 8 May 2021.

 

Speaking on the initiative, FirstBank's CEO, Dr. Adesola Adeduntan said "at FirstBank, we are pleased to participate in the CBN's 'Naira 4 Dollar scheme' as it will contribute to deepening financial inclusion in Nigeria. Indeed, it's an activity we are pleased to lead, whilst promoting access to funds across the nooks and crannies of the country in almost 127 years of our existence.

 

We are delighted to be a gateway to promoting dollar remittances into the country and we encourage our customers, their loved ones and friends to use our international money transfer services which would enable them to enjoy the rewards of this promo, sustaining the increase in inflows of diaspora remittances into Nigeria consequently help in poverty reduction, income redistribution and enhancement of economic growth" he concluded.

 

FirstBank pioneered international funds transfer and remittances over 25 years ago and has been at the forefront of promoting cross border payments in the country, having started the journey with Western Union Money Transfer. The Bank's wealth of experience and operation in over 750 locations nationwide gives it the edge in the market.

 

Only recently, the Bank launched the First Global Transfer (FGT) product to promote international transfer of funds across its subsidiaries in sub-Saharan Africa. The Bank's subsidiaries in Africa include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank Senegal.


Proshare Nigeria Pvt. Ltd.


Related Links

1.      CBN Naira 4 Dollar Scheme: A Subtle Devaluation?

2.     New Policy on Remittance Inflow to Reduce Cost, Check Round-Tripping - CBN

3.     Policy on Remittance Flows Administration Aimed at Increasing Transparency - Emefiele

4.     CBN Introduces the Naira 4 Dollar Scheme for Diaspora Remittances 

 

Proshare Nigeria Pvt. Ltd.


Related News on First Bank

1.    Firstbank Unveils FirstSME Account, Reiterates its Commitment to The Continued Growth Of SMEs

2.   FirstBank Hits Over 86,000 FirstMonie Agents, Empowers More Nigerians

3.   FirstBank Begins The Year With An Innovative, Convenient Virtual Payment Card

4.   Ajayi Wins The 59th FirstBank Lagos Open Golf Championship

5.   The 59th Firstbank Lagos Amateur Golf Open Championship Tees-off

6.   COVID-19: FirstBank Launches "Mask up, Stay Safe" Campaign

7.   BAFI Awards: FirstBank's COVID-19 Response Sets the Pace in CSR for other Financial Institutions

8.   NCOY: FirstBank is Powering the Next Generation of Nigerian Innovators and Entrepreneurs

9.       LASG Partners Firstbank to Promote Access to Affordable Healthcare

10.    Firstbank Launches Next-Generation ATM, Spearheads Innovation in Electronic Banking in Nigeria

11.     Firstbank Promotes Financial Inclusion Amongst Children with Kidfirst and Mefirst Accounts

12.    Firstbank's Wins Global Finance 2020 Best Mobile Bank App

13.    Firstbank to Host SME Webinar to Enlighten Entrepreneurs on Ways to Rebuild Their Business


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP