First Bank Nigeria has denied online media (not DigitalTimesNG) reports that its branch or head office was sealed at any time.

The bank, through a statement signed by Kehinde O Taiwo of the Marketing & Corporate Communications Department, described the report as “a misrepresentation of the facts and misleading.”

According to the statement, “Please be informed that the referenced story is a misrepresentation of the facts and misleading. Neither our branch nor head office was sealed.

“On the 4th of August, 2022, there was an unlawful enforcement at the Bank’s Coomassie House Branch of a garnished order issued by a Federal High Court sitting in Abuja which orders the Bank is still challenging in court.

“While the Bank has taken appropriate legal steps to deal with the situation, we wish to reassure our customers of unhindered banking services and the unique customer experience in all our branches and through our numerous alternative channels.”

First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider has announced that its agent banking network – Firstmonie Agents – spread across the nooks and crannies of the country has collectively processed transaction volume in excess of 1 billion, amounting to over 22 trillion naira.

The Bank currently has over 180,000 Firstmonie Agents, spread across the country’s 772 Local Government Areas.

Firstmonie Agents have been integral to bringing financial services closer to the under-banked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.

Popularly referred to as the ‘Human ATM’, Firstmonie Agents are empowered to reduce their reliance on over-the-counter transactions while providing convenient personalized services.

Amongst the services carried out by the Agents include; Account Opening, Cash Deposit, Airtime Purchase, Bills Payment, Withdrawals and Money Transfer.

Through various empowerment and reward schemes implemented to put its Firstmonie Agents at an advantage to economically impact their immediate communities whilst importantly having their business sustained, the Bank’s Agent Banking scheme has remained a toast to Nigerians, irrespective of where they are in the country.

Amongst these schemes is the Agent Credit – launched in 2020 – which has had the Bank provide credit facilities to the tune of 238 billion naira to its teeming Firstmonie Agents.

Expressing his appreciation to the Firstmonie Agents, Dr. Adesola Adeduntan, CEO, FirstBank said “since the relaunch of our Agent Banking scheme in 2018, our Firstmonie Agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways, thereby saving a lot of time and money in travelling over long distances for basic banking services.”

“We are delighted by the giant strides of our Firstmonie Agents in promoting financial inclusion and commend them for their efforts in taking banking to the doorsteps of Nigerians – irrespective of where they are – in a very effective way,” he concluded.

Stanbic IBTC Bank Plc has announced a partnership with Bento Africa, to offer more value to Nigerian businesses of all sizes.

Bento Africa is a payroll and Human Resource Management (HRM) company with a mission to meet work wherever it happens expand broader access to a wider range of financial services and drive inclusion across the continent.

Chief Executive of Stanbic IBTC Bank, Wole Adeniyi while speaking on the rationale behind the partnership, said that the bank was committed to delivering more digitalised value-added services to businesses and SMEs.

“Every business we serve pays salaries and has employees, so the provision of a world-class technology platform that enhances how they relate with our bank, drove this strategic partnership,” he said.

Speaking further as contained in a statement by the bank, Adeniyi stated: “We are delighted to partner with Bento Africa, who currently serve over 1,000 businesses in Nigeria, Ghana, Kenya, and Rwanda, with plans to roll out to an additional 10 countries by the end of the year.

“Bento Africa is modernising the payroll and HRM market in Africa, which has traditionally relied on laborious, manual processes to handle payroll. The start-up helps businesses of all sizes to automate the disbursement of salaries and other statutory remittances, including taxes and pensions with a single click.

“Stanbic IBTC customers can access Bento’s services through our digital platforms, including payroll and HRM services, detailed financial data analytics, and seamless payment of employees in both the formal and informal sector, while staying compliant to local laws.”

The Bento team through its founders- Ebun Okubanjo and Chidozie David Okonkwo said, “We see this as the beginning of much deeper partnerships with established institutions and start-ups. We are not surprised that Stanbic IBTC was the first to the table, as the bank and its history are grounded in innovation.

“We have enjoyed working with them and are extremely excited about the future of salaries and benefits and what that will mean for the employer, the employee and society as a whole.”