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FirstBank has reached ₦1 trillion in cumulative disbursements of instant digital loans. A significant milestone for the a trailblazer in West Africa’s financial services landscape. This landmark achievement strengthens its position as a leader in digital lending, financial inclusion, and customer-centric innovation.
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Since launching its first digital loan in August 2019, FirstBank has built a robust AI-powered digital lending ecosystem. The system is designed to enhance credit access, particularly for underserved and high-risk segments. Powered by Artificial Intelligence (AI) and Machine Learning (ML) algorithms, the system is making the loan process efficient, secure, and fast. It requires no collateral, documentation, or human interaction.
1.5 Million Nigerians Empowered by Instant Access to Credit
Through digital loan products such as FirstAdvance, FirstCredit, and AgentCredit, over 1.5 million unique borrowers—including salary earners, non-salary earners, and micro-entrepreneurs—have accessed instant loans. Customers can conveniently secure these loans via USSD (*894#), the FirstMobile App, LitApp, and the FirstMonie Agent App.
“Our commitment to innovation and financial inclusion remains unwavering,” said Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank. “We’re not just celebrating numbers; we’re driving a purpose—empowering Nigerians with financial independence and access.”
₦1 Billion Disbursed Daily via Digital Channels
FirstBank now disburses approximately ₦1 billion daily in digital loans, reflecting its focus on deepening access to credit through digital platforms. This growth is supported by continuous investments in financial technology, enabling the bank to extend services even to the most excluded communities.
“Our goal is to extend financial solutions to all Nigerians, especially the underserved,” Ezirim added. “By effectively managing risk and leveraging digital tools, we are shaping the future of financial services in Nigeria and beyond.”
