FirstBank of Nigeria Limited has reached a major milestone in its digital lending journey, with its flagship salary-backed loan product, FirstAdvance, now disbursing more than ₦1 billion in loans daily, reflecting growing customer confidence in the bank’s technology-driven financial services and the increasing demand for instant access to credit.
The achievement marks another significant step in FirstBank’s retail banking strategy and reinforces its position as one of Nigeria’s leading digital lenders at a time when millions of individuals and small businesses are turning to technology-enabled financial solutions to meet urgent funding needs.
Designed for salary earners, FirstAdvance enables eligible customers to obtain short-term loans in less than one minute without collateral, providing quick access to funds for emergencies, household expenses, bill payments and other immediate financial obligations.
The bank said the daily ₦1 billion disbursement milestone demonstrates the rapid adoption of its digital lending platforms and the effectiveness of its integrated banking ecosystem in expanding access to credit across the country.
Commenting on the achievement, the Group Executive for eBusiness and Retail Products at FirstBank, Chuma Ezirim, described the milestone as a reflection of the bank’s strong digital capabilities and its continued focus on delivering seamless financial solutions.
“Achieving ₦1 billion in 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,” he said.
According to Ezirim, the achievement further strengthens FirstBank’s leadership in digital and retail banking by demonstrating how technology can be deployed to meet changing customer expectations while expanding financial inclusion and supporting economic participation.
The latest milestone builds on the bank’s growing presence in Nigeria’s digital credit market. In 2025, FirstBank announced that its cumulative digital loan disbursements had surpassed ₦1 trillion, driven by products such as FirstAdvance, FirstCredit and AgentCredit.
The bank’s lending services are available through multiple digital channels, including the *894# USSD platform, the FirstMobile App, the LitApp and its extensive FirstMonie Agent network, allowing eligible customers and agents to access loans in under one minute.
Beyond salary-backed lending, FirstBank has continued to broaden financial inclusion through FirstCredit, an instant digital loan product designed for self-employed individuals and other economically active Nigerians who may not receive regular salaries but require quick access to working capital and personal finance.
The bank is also strengthening support for its nationwide agency banking network through AgentCredit, a short-term digital lending facility that provides FirstMonie agents with immediate liquidity to meet customers’ cash demands and sustain uninterrupted banking services.
By addressing liquidity challenges faced by agents, the product has helped improve cash availability across rural, semi-urban and underserved communities where agency banking has become a vital channel for financial inclusion.
Industry analysts say the rapid growth of digital lending reflects a broader shift in Nigeria’s banking landscape, with financial institutions increasingly leveraging technology, data analytics and alternative credit assessment models to provide faster and more accessible financing to individuals and businesses.
As competition intensifies within the country’s digital financial services market, FirstBank believes its expanding portfolio of technology-enabled lending products will continue to bridge financing gaps for salary earners, entrepreneurs, small businesses and agency banking operators while supporting broader economic growth.
With daily digital loan disbursements now exceeding ₦1 billion, the bank says it remains committed to developing responsible lending solutions that improve financial access, stimulate enterprise and deepen inclusion across every segment of the Nigerian economy.
