By Ayomide Otitoju
FirstBank of Nigeria has reached a major milestone with the disbursement of over ₦1 trillion in cumulative instant digital loans, underscoring its leadership in digital banking and financial inclusion across West Africa.
The milestone, achieved through the bank’s suite of digital lending products—including FirstAdvance, FirstCredit, and AgentCredit—reflects a significant expansion in access to credit for over 1.5 million unique borrowers, ranging from salary earners to micro-entrepreneurs.
Since launching its first digital loan offering in August 2019, FirstBank has built an AI- and machine learning-driven lending ecosystem that eliminates the need for collateral, documentation, or physical interaction. Loans can be accessed instantly through multiple channels such as the *894# USSD service, FirstMobile, LitApp, and the FirstMonie Agent App.
Commenting on the achievement, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, said the bank remains committed to providing inclusive financial solutions that empower customers.
“This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values,” Ezirim said. “We are not only focused on reaching impressive numbers but also on creating meaningful opportunities for financial independence across Nigeria and beyond.”
He noted that the bank currently disburses an average of ₦1 billion daily in digital loans and will continue to expand its reach, especially to underserved and excluded segments, while maintaining sound risk management practices.
FirstBank’s digital lending growth is a testament to its sustained investment in technology and its resolve to drive inclusive economic development through accessible and tailored financial solutions.
