Firstmonie Strengthens Nigeria’s Financial Inclusion Drive
Firstmonie, the financial inclusion arm of FirstBank, is expanding its Point of Sales (POS) network to bring secure, seamless, and affordable banking services closer to Nigerians. By equipping agents and merchants with modern POS devices, Firstmonie is enabling millions of people, especially in underserved communities, to carry out everyday financial transactions with ease.
Features of Firstmonie POS Devices
The new Firstmonie POS machines are designed with advanced technology, ensuring speed, security, and flexibility. Key features include:
- Fast transaction processing for cashless payments.
- Instant settlement to agents and merchants.
- Multi-channel payment options, including cards and transfers.
- Real-time transaction dashboard for monitoring and reporting.
These features give agents better control of their operations while improving customer experience.
Services Offered by Firstmonie Agents
Through its Agent Banking model, Firstmonie empowers registered agents to provide essential banking services, including:
- Account opening.
- Cash deposits and withdrawals.
- Money transfers.
- Airtime and data purchases.
- Bill payments.
- BVN enrolment.
- Balance enquiries.
Customers can easily identify Firstmonie agent outlets by their official certificates, branded banners, and recognisable blue-and-gold outdoor markings.
Nationwide Network Coverage
With over 240,000 agent locations across 772 of Nigeria’s 774 local government areas, including the Federal Capital Territory (FCT), Firstmonie has built one of the largest agent networks in Africa.
These agents serve more than one million customers daily, bridging the gap between formal banking institutions and underserved populations.
Driving Job Creation and Community Empowerment
Beyond providing banking access, Firstmonie has played a significant role in Nigeria’s economic empowerment. The platform has:
- Facilitated over 300,000 indirect jobs in the last four years.
- Positioned its agents as “community heroes”, recognised for improving lives and providing essential services.
- Boosted financial participation in rural and low-income areas.
FirstBank’s Vision for Inclusive Growth
According to FirstBank, the Firstmonie Agent Network reflects its vision to use digital innovation to:
- Tackle poverty.
- Strengthen financial inclusion.
- Empower individuals and businesses across Nigeria and Africa.
By combining financial services with job creation, Firstmonie is positioning itself as a key driver of economic empowerment and inclusion in the region.
Final Thoughts
The expansion of the Firstmonie POS network demonstrates FirstBank’s long-term commitment to bridging the gap between Nigeria’s formal banking sector and underserved communities. With its vast reach, secure POS technology, and agent-driven services, Firstmonie is not only making banking more accessible but also creating jobs and fueling grassroots economic growth.
