Firstmonie agents record one billion transactions

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First Bank of Nigeria Limited has said its agent banking network, Firstmonie Agents, spread across the country has processed transaction volume in excess of one billion, amounting to over ₦22tn.

It said in a statement that the bank currently has over 180,000 Firstmonie agents, spread across the country’s 772 Local Government Areas.

The statement said, “Firstmonie agents have been integral to bringing financial services closer to the underbanked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.

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“Popularly referred to as the ‘Human ATM’, Firstmonie agents are empowered to reduce the reliance on over-the-counter transactions while providing convenient personalised services. Among the services carried out by the agents include account opening, cash deposit, airtime purchase, bills payment, withdrawals and money transfer.”

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Through various empowerment and reward schemes implemented to put its Firstmonie agents at an advantage to economically impact their immediate communities while having their business sustained, it said its agent banking scheme had remained a toast to Nigerians, irrespective of where they are in the country.