In a defining moment for Nigeria’s financial services sector, FirstBank has announced that it has surpassed ₦1 trillion in cumulative instant digital loan disbursements, a historic milestone that underscores the Bank’s position at the forefront of innovation, digital transformation, and financial inclusion in Africa.
Since launching its first digital loan in August 2019, FirstBank has revolutionised how Nigerians access credit.
Leveraging Artificial Intelligence and Machine Learning, the Bank built a resilient, automated lending ecosystem that bypasses traditional barriers to finance, such as collateral requirements, paperwork, or even face-to-face interaction.
This approach has opened the door to 1.5 million unique borrowers, including salary earners, non-salary earners, and micro-entrepreneurs, who now enjoy seamless, secure, and on-demand access to credit through FirstAdvance, FirstCredit, and AgentCredit.
Whether via 894# USSD, the FirstMobile App, LitApp, or the FirstMonie Agent platform, users can receive funds instantly, often within seconds.
“This milestone is not just about numbers,” said Chuma Ezirim, group executive, e-Business & Retail Products at FirstBank.“ It reflects our unwavering commitment to innovation, customer empowerment, and financial inclusion. We are proud to be enabling the dreams of millions by offering real-time access to credit, particularly to those often excluded from traditional banking channels.”
FirstBank currently disburses over ₦1 billion daily in digital loans, a powerful indication of growing demand for responsive, tech-driven financial services across Nigeria.
Transforming Credit Access for the Underserved
At the heart of FirstBank’s digital lending strategy is the vision to empower everyday Nigerians, whether it’s a small trader in Kano needing a quick top-up to restock inventory or a young professional in Lagos managing end-of-month expenses.
These solutions offer more than convenience; they foster financial resilience and economic participation for individuals who may otherwise be excluded from formal credit systems.
“We will continue to scale our digital lending services, particularly in underserved and high-risk customer segments,”Ezirim added. “Our goal is to democratise credit access, responsibly, securely, and at scale.”
As Nigeria continues to digitise its economy, FirstBank remains a catalyst in ensuring that financial technology meets financial empowerment.
Through continued investment in intelligent infrastructure and customer-centric product design, the Bank is helping Nigerians not only access loans, but build confidence, improve livelihoods, and unlock opportunities.
*To learn more about FirstBank’s digital loan services, visit here or dial *894# to get started.
