First Bank of Nigeria Limited has crossed a significant digital lending threshold, recording a historic N1bn single-day disbursement on its flagship salary-backed digital loan product, FirstAdvance.
The financial institution announced on Monday that the breakthrough underscores a sharp increase in consumer reliance on automated, short-term credit lines to navigate immediate cash flow pressures without traditional collateral bottlenecks.
The bank noted that the rapid scaling of its credit product reflects deep institutional trust in its digital platforms and the effectiveness of its integrated service delivery model across West Africa.
Speaking on the development, the Group Executive, eBusiness and Retail Products at FirstBank, Chuma Ezirim, said, “Achieving N1bn daily disbursement is a remarkable milestone for FirstAdvance and a testament to the strength of our digital capabilities and team collaboration at FirstBank. We will continue to empower our customers with quick and convenient access to credit, while continuously enhancing their overall banking experience.”
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