First Bank: Setting the Pace in World Class Banking Services, Citizen Empowerment and Social Intervention in Africa and Beyond

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Foremost Financial Institution, First Bank of Nigeria Limited, is unarguably the leader in the banking industry in Nigeria.

Its capital base, national spread, customer-friendly products and services are second to none. The bank’s Corporate Social Responsibility (CSR) efforts cut across the nook and cranny of the country.

These activities which stand First Bank include social and health intervention as well as support; small business empowerment and educational support which are all implemented to reinforce the capacity of individuals and businesses to contribute to national development.

With its over 126 years of business operations in Nigeria, indeed the first Nigerian company to be listed and broadcasted on CNN 100 Club, the bank has been at the forefront of empowering the young and indigent elderly citizens, lifting the downtrodden out of poverty and hardships, rekindling hope, putting smiles on the faces of a younger generation of entrepreneurs through the issuance of low and friendly interest credit facility which transcend to building and promoting the small and medium scale businesses in the remotest rural areas and urban cities across the Niger.

These are and many more strides have distinguished First Bank in Nigeria.

Health Service Partnership with the Lagos State Government

To ensure that Lagos Residents at the grassroots across the state has unhindered access to affordable, effective and qualitative health care services, the Lagos State Health Management Agency partnered with First Bank to utilize its over 13,000 FirstMobile Agents as payment channels for the Lagos State Health Scheme.

During the flag-off ceremony, LASHMA GM, Dr Emmanuella Zamba, said, “The partnership became necessary to facilitate ease of health insurance premium transactions for residents, especially at the grassroots.

Zamba, however, mentioned that First Bank was selected for the partnership in recognition of its effectiveness, efficiency and large clientele.

For easy access and stress-free payment of Lagos Residents’ health insurance premiums, Firstmonie payment platform was considered the best.

Dr Zamba explained that the partnership offer opportunity to pay either N40,000 annually for a family plan or N8,500 annually for an individual plan via the Firstmonie Agents.

“Once the insurance premium is paid before 25th of every month, such enrollee can receive care from the first day of the following month at any public or private hospital of their choice within the scheme’s network of Providers”, Zamba clarified.

While commending the Lagos State Government, the Deputy Managing Director of First Bank, Mr Gbenga Shobo said “the initiative will have a crucial role at improving the life expectancy of Lagos residents whilst promoting their increased contribution to the growth and development of the state.

First Bank, Lagos State Employment Trust Fund Partnership and SMEs

First Bank partnered with the Lagos State Employment Trust Fund (LSETF). The scheme was launched in September by the Lagos State Governor, Mr Babajide Sanwo-Olu, and the Managing Director and Chief Executive Officer, Dr Adesola Adeduntan.

It is designed to cushion the resultant effects of the COVID-19 on low-cost private schools at an attractive lending interest rate.

While delivering his speech, Dr Adeduntan said “At First Bank, we recognise indelible roles played by the Education sector in the growth of any economy and this underscores our partnership with the Lagos State Government for continuous development of the education services in Lagos State and the nation as a whole.

“The commitment by the Lagos State Government -including this partnership to enable schools is quite commendable as this will mitigate the challenges caused by the lockdown on the education sector following the COVID-19.”

The 2019 KPMG’s Annual Banking industry customer satisfaction survey named First Bank as the ‘Biggest Mover in the SME Space’. It also earned the financial institution the most popular Bank among MSMEs for deposit transactions and credit loan facilities with 20% of SMEs surveyed.

In recognition of the role SMEs play as the engine of the economy, First Bank has been at the forefront of having them equipped with the required knowledge and information with a view to easing their sustainability. These have been achieved through several SME events including; an SME Business Clinic train that moved from Lagos to Abuja and Port-Harcourt in February.

The bank later embarked on virtual SME-based events, in order to adhere to the social distancing guideline essential to promoting the safety of every participant in view of the COVID-19 pandemic. These SME based webinars include SME Business Clinic in May as well as the SME Connect webinar to promote the growth of education sector held in July amongst others.

The value generated from the bank’s unprecedented business support and development activities to the small and medium scale enterprises, especially the young entrepreneurs across the Niger cannot be quantified.

With its mantra, You First, First Bank leaves no stone unturned in putting its customers first as it continues to deliver the gold standard of value and excellence to the banking and business climate across the world.

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