FirstBank, one of Nigeria’s oldest and most trusted financial institutions, has reached a major milestone with the disbursement of over ₦1 trillion in cumulative instant digital loans, reinforcing its position as a leader in digital innovation and financial inclusion across West Africa.
Since rolling out its first digital loan in August 2019, FirstBank has revolutionised access to credit through a robust, AI-powered lending infrastructure. The Bank’s digital loan platforms—FirstAdvance, FirstCredit, and AgentCredit—have provided 1.5 million unique borrowers with seamless access to funding, cutting across salary earners, informal sector workers, and micro-business owners.
Okay.ng reports that these services are delivered through convenient, multi-channel platforms including the 894# USSD code, FirstMobile, LitApp, and the FirstMonie Agent App—all requiring no collateral, no paperwork, and no human intervention.
Reacting to the development, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, described the milestone as a validation of the Bank’s vision to democratise access to finance using cutting-edge technology.
“This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values,” Ezirim said. “Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.”
He added that FirstBank is committed to deepening digital lending efforts—particularly among excluded and underserved communities—while strengthening its risk management systems.
Currently, the Bank disburses approximately ₦1 billion daily in digital loans, a testament to its growing role in powering small-scale economic activity and bridging the credit gap for millions.
With its eyes firmly set on a tech-driven, inclusive financial future, FirstBank says it will continue to invest in emerging technologies and personalised products that boost the financial well-being of individuals and businesses alike.
