July 18, (THEWILL) — FirstBank, one of West Africa’s leading financial institutions, has announced that it has crossed the ₦1 trillion mark in cumulative instant digital loan disbursements.
The milestone, confirmed in a statement on Friday by Olayinka Ijabiyi, Acting Group Head of Marketing & Corporate Communications, reinforces the bank’s reputation for innovation, financial inclusion, and customer empowerment.
Since launching its first digital loan in August 2019, FirstBank has built a robust digital lending ecosystem powered by Artificial Intelligence and Machine Learning.
The bank’s model targets improved access to credit, especially for high-risk customer segments, through a multi-channel, collateral-free system requiring no documentation or human interaction.
Through loan products such as FirstAdvance, FirstCredit, and AgentCredit, over 1.5 million unique borrowers, including salary earners, non-salary earners, and micro business owners, have accessed instant loans via platforms like *894# (USSD), FirstMobile, LitApp, and the FirstMonie Agent App.
Commenting on the achievement, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, said: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values.
“Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria and Africa.”
He added that the bank would continue to prioritise digital lending to underserved and excluded segments while maintaining effective risk management.
Currently, FirstBank disburses around ₦1 billion daily in digital loans, a figure that reflects its strong drive towards a more inclusive, tech-driven financial future.
The bank says it will continue to invest in advanced technology and tailor-made solutions to improve the financial well-being of Nigerians and support sustainable economic growth.
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