First Trader Solutions (FTS)

The First Trader Solution is a short-term overdraft facility offered to traders in pre-approved market locations who deal in fast moving goods. It comes in two variants; the Main FTS (180-day variant) and the Exceptional FTS (90-day variant).


  • Available to traders that deal in fast moving goods.
  • Tenor is either 90 days or 180 days
  • Maximum Loan amount is N5m
  • No collateral is required for the 90 days variant.
  • Collateral for the 180 days variant shall be equitable mortgage on shop title documents to cover 200% of facility amount.
  • Requires opening of a Charged Savings account with opening amount of 5% of the facility amount. There will also be subsequent deposits as shown below:
    • 0.5% of the loan amount daily throughout the tenor of the 180 days facility.
    • 1% of the loan amount daily throughout the tenor of the 90 days facility.

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