FirstBank is reducing poverty, deepening financial inclusion through its 31,000 agent network

Lack of accessible financial service points is one of the key factors responsible for Nigeria’s high exclusion rate.

In its quest to deepen financial inclusion, FirstBank is channelling its resources to reach those at the bottom of the pyramid through its agency banking.

The tie-one bank has over 31,000 agents spread across Nigeria with 9,000 assigned to provide financial services to the highly excluded Northern region.

According to Adesola Adeduntan, the MD/CEO of First Bank of Nigeria Ltd, the bank took it upon itself as part of their strategic plan to be the bank that can be the right partner to the CBN and the government by helping to achieve the right social impact.

“If there is that bank on ground to help the country to address the seeming geographical gap in terms of financial inclusion, it is FirstBank, because we are already doing a lot,” Adeduntan said.
With over 125 years of unbroken existence in Nigeria, the lender has the largest branch network in Nigeria with over 750 branches spread across the country.

Nigeria has an exclusion rate of 36.8 percent as at December 2018; this translates to about 36.6 million Nigerian adults who are not included in the formal financial net.

The Central Bank of Nigeria plans to ensure it drive that number to 20 percent by the year 2020. But with less than five months to the deadline, the regulator has about 16.8 percent exclusion gap.

“So with over 31,000 agents and 750 branches spread across all the LGAs in Nigeria, FirstBank is indeed a frontrunner at not just providing banking to all Nigerians but importantly improving their respective businesses and developing the Nigerian economy,” Adeduntan noted.

According to Emeka Onwuka, CEO, Parkway Project, a Lagos-based Fintech company known for its popular ReadyCash product, when it comes to financial inclusion, the distribution is really “where we have the problem.”

“It is not about wallet rather it is about the touch point where people can actually go and have access,” Onwuka added. In January 2019, the central bank unveiled a revised version of the National Financial Inclusion Strategy (NFIS) in which it projected that it will enrol about 500,000 mobile money/bank agents available to serve about 105 million adult Nigerians by the year 2020. The figure translates to about 476 agents per 100,000 adults.

Less than five months to the projected deadline, Nigeria’s financial institutions have however enrolled a joint 65,753 mobile agents, data obtained from the Nigeria Interbank Settlement System (NIBSS) showed.

This is 86.85 percent less than the 500,000 mobile agents which are going to serve about 105 million adult Nigerians. If the industry regulator is to meet the target by 2020, it would have to enrol about 434,247 agents in five months.

According to data by EFInA, a huge population of Nigerian adult still lack access to financial products and services. The number is however highest in the northern part of the country.

Compared to other regions of Africa’s most populous nation, the northern part of the country reported more unbanked people owing to high illiteracy level, insurgency in some parts of the region coupled with high poverty rate, as compiled from BusinessDay survey.

“Currently we have up to 9,000 agents specifically in the northern part of the country and the same thing goes for the statistics of our ATM,” Adeduntan said.

 

Culled from “https://businessday.ng/lead-story/article/adeduntan-firstbank-is-reducing-poverty-deepening-financial-inclusion-through-its-31000-agent-network/

fbadmin
August 29th, 2019

FirstBank Privacy Policy for IBM DNA E-Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the IBM DNA learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by IBM through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

I disagree. Opt Out

FirstBank Privacy Policy for Roducate

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Roducate learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by Roducate through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

I disagree. Opt Out

E-Learning Roducate Registration

If you are 18 years and above, kindly complete the form below.

If you registering for someone below 18 years, please provide your details under Parents/Guardian

Name of student:

Gender:
MaleFemale

Age:

Email address:

Mobile telephone number:

Name of School:

State:

For Parent / Guardian

Name of parent/ Guardian of child under 18:

Email address:

Mobile telephone number:

E-Learning IBM-DNA Registration

If you are 18 years and above, kindly complete the form below.

If you registering for someone below 18 years, please provide your details under Parents/Guardian

Name of student:

Gender:
MaleFemale

Age:

Email address:

Mobile telephone number:

Name of School/location:

For Parent / Guardian

Name of parent/ Guardian of child under 18:

Email address:

Mobile telephone number:

FirstBank Privacy Policy for Curious Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Curious Learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by Curious Learning through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

I disagree. Opt Out

E-Learning Curious Learning

For Parent / Guardian

Name of parent/ Guardian of child

Email address:

Mobile telephone number:

Parents should kindly complete the form below for their wards.

Name of student:

Gender:
MaleFemale

Age:

Name of School/location:

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