FirstBank, one of Nigeria’s oldest and most trusted financial institutions, has reached a significant milestone in its digital transformation journey, announcing it has disbursed over ₦1 trillion in instant digital loans since 2019.
The bank, known for championing financial inclusion across West Africa, said the milestone reflects the growing acceptance and impact of its digital lending products, which are helping millions of Nigerians access credit without the usual barriers of collateral, paperwork, or physical interaction.
In a statement on Thursday, the Group Executive for e-Business and Retail Products at FirstBank, Chuma Ezirim, described the achievement as a testament to the bank’s commitment to innovation and customer empowerment.
“This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values,” Ezirim said. “Beyond the figures, we remain dedicated to fostering financial independence across Nigeria and Africa.”
Since the launch of its first digital loan product in August 2019, FirstBank has developed a robust lending infrastructure powered by Artificial Intelligence (AI) and Machine Learning (ML). These technologies help the bank assess credit risk in real-time, allowing for instant decision-making and disbursement through multiple platforms.
The bank’s loan offerings — including FirstAdvance, FirstCredit, and AgentCredit — have reached over 1.5 million unique borrowers. Customers can access these facilities via channels such as the 894# USSD code, FirstMobile, LitApp, and the FirstMonie Agent App, making credit accessible anytime, anywhere.
What sets FirstBank’s digital loan service apart is its ease of use: no collateral is required, no documentation is needed, and the process is fully automated — a crucial development for the unbanked and underserved population.
As of July 2025, the bank said it disburses approximately ₦1 billion daily in instant digital loans. This level of financial activity positions FirstBank as a front-runner in digital lending across Nigeria.
Ezirim added that the bank remains focused on extending credit to high-risk and underserved segments while managing exposure through its AI-driven risk controls.
“We value the trust our customers place in us to support their financial aspirations,” he said. “Our goal is to continue developing innovative digital lending solutions that serve a wide range of customers — from salary earners to micro-business owners.”
With this milestone, FirstBank has once again demonstrated its leadership in creating inclusive, tech-driven financial services. As Nigeria continues to embrace digital banking, the bank’s track record suggests it will remain at the forefront of efforts to bridge the credit access gap and promote economic growth.
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