First Bank Gives Bountifully Back To Agents As Firstmonie Network Dominates Nigeria


First Bank Gives Bountifully Back To Agents As Firstmonie Network Dominates Nigeria, Conquest Online Magazine
L-R: Sam Egube, Commissioner of Economic Planning and Budget, Lagos State (representing the Governor, Lagos); Chuma Ezirim, Group Executive, e-Business & Retail products,FirstBank; Gbenga Shobo, Deputy Managing Director, FirstBank; Adesola Adeduntan, Chief Executive Officer, FirstBank; Chief Joseph Sanusi, Former MD, FirstBank & Former CBN Governor; with the National Winner of the 2019 Firstmonie Agent Awards, Zayyanu Hassan Ishaq from Abuja - North Central - (3rd right) at the Firstmonie Agent Awards held in Lagos last Friday which had 37 leading agents of the Bank rewarded for their role at promoting financial inclusion in the country.
As part of efforts aimed at expressing appreciation to its over 37,000 Firstmonie Agent Network, across Nigeria, whilst promoting financial inclusion, First Bank of Nigeria Limited, recently rewarded 37 leading agents with over N15 million.
The winners, selected at different levels were presented with the cash rewards at a ceremony tagged: ‘Firstmonie Agent Banking National Award’ held on Friday, 25 October 2019 at the Oriental Hotel, Lagos.
Speaking at the occasion themed “Planting Community Heroes Nationwide”, Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, said the Firstmonie agent network is a bespoke channel through which the bank expresses its unalloyed commitment and passion to promote opportunities and access to financial services by every Nigerian, especially within the low-income segment.
“The initiative has witnessed several changes in the operating structure and value proposition of FirstBank.
“In December 2017, the bank ran a pilot test with over 400,000 transactions processed and following the success of the first run, it re-launched in 2018”, the bank’s chief noted.
Adeduntan explained further that with the initiative, the gap between the tech savvy and the low literacy clients has been breached as Firstmonie agent network represents the convenient and comfortable alternative for customers, that are unacquainted with sophisticated digital channels.
In his remarks, the Deputy Managing Director, First Bank of Nigeria Limited, Mr. Francis Shobo, stated that the agents are the most critical part of the banking ecosystem because they take deposits, make payments and open accounts, provide transfers and sell airtime at locations with little or no access to financial services.
Shobo lauded the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele for the role the apex bank has played, stating that the CBN has made a lot of changes in regulation around agency banking, “they have allowed the programme to scale as much as it has scaled.”
At the well-attended ceremony, the sum of N250,000 each was won by 31 agents at the state level, N1 million each by 5 agents at the regional level and a grand prize of N2.5 million at the national level.
In chat with newsmen after receiving the cash prize at the event, the N2.5 million grand prize winner at the national level from Abuja (North Central), Zayyanu Hassan Ishaq, described his prize as a miracle of God.
“I want to thank First Bank for this gesture. It took me by surprise, because I never expected it from them. This is a miracle.
“First Bank is truly different. This will spur me to work harder for the bank and its customers”, joy-filled Ishaq concluded.
Since its inception in 2017, the FirstBank Agent Banking scheme, popularly called Firstmonie, has recorded giant strides at promoting financial inclusion across the nook and cranny of the country. With almost 40,000 Agents in 99% of the 774 Local Government Areas in Nigeria, processing approximately 1million transactions daily, First Bank of Nigeria Limited is leading the effort at supporting the Federal Government’s objectives to deepen access to financial services

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