Firstmonie agents expand to more neighbourhoods

As part of efforts to drive financial inclusion, and deepen services across the nook and cranny of Nigeria through cost effective channels, Firstmonie Agent network is fast gaining wide acceptance as a medium for financial transactions.

To demonstrate its acceptance and growing importance, the Firstmonie Agent network processes over 100,000 transactions worth over N1billion on a daily basis.

Firstmonie Agents are now positioned within rural and semi-urban locations across Nigeria, to provide basic financial services such as account opening, cash deposit, cash withdrawals, airtime purchase, bill payments and much more to every Nigerian.

First Bank of Nigeria Limited re-launched Firstmonie Agent network in July 2017, with a pilot scheme in six densely populated states of Lagos, Oyo, Kano, Abuja FCT, Anambra, and Rivers.

After an impressive six-month pilot that ended in December 2017, the Agent Banking scheme was extended nationwide in January 2018.

And within six months of its launch, the scheme has made appreciable progress with an extensive network spread across every state, and at every Local Government Area nationwide.

Through this channel, the Bank in a statement, said it is committed to providing convenient services that engender trust, provide ease of access to financial products, thereby saving time, and travel costs. Transactions carried out through this channel are authenticated and safe.

The Firstmonie Agent network is succeeding in reducing the financial exclusion rate nationwide (a very critical objective of the Central Bank of Nigeria).

In addition, the network has proven to be a reliable and efficient means of solving social welfare problems with the creation of jobs and sustainable income and thus the network has endeared Agents to the platform, while the ease of transacting has been a major factor in retaining customer and driving loyalty.