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.” The N1bn single-day peak comes on the heels of a broader multi-year retail expansion strategy by the premier lender.
In 2025, the bank celebrated hitting N1tn in cumulative digital loan disbursements, driven by data-backed credit scoring models that assess creditworthiness in real-time. By leveraging alternative electronic channels, including its USSD platform, FirstMobile app, LitApp, and the extensive FirstMonie Agent network, the bank allows salary earners to access short-term credit lines in less than one minute without physical paperwork.
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To balance its exposure across non-salaried demographics, the bank has scaled alternative digital credit products alongside its main salary loan offering. These include FirstCredit, which targets non-salaried individuals gainfully engaged in daily commercial trade, and AgentCredit, a specialised one-day liquidity facility built for institutional operators within its agency banking arm.
The bank maintained that providing immediate working capital to its FirstMonie agents bridges liquidity constraints at rural transaction points, ensuring unhindered cash flow across underserved communities. “Whether it is helping salary earners manage temporary cash flow gaps, empowering other individuals who are gainfully engaged in daily economic activities with instant access to credit, or supporting FirstMonie agents with working capital to sustain community banking services, the bank remains committed to delivering innovative and responsible financial solutions that improve lives”, the statement added.
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.
The N1bn single-day peak comes on the heels of a broader multi-year retail expansion strategy by the premier lender. In 2025, the bank celebrated hitting N1tn in cumulative digital loan disbursements, driven by data-backed credit scoring models that assess creditworthiness in real-time.