FCMB offers loans to unbanked Nigerians

FCMB has sought to play a significant role in developing the lives of unbanked Nigerians with quality financial services

Inclusion Times Gabriel Enyinwa

In a bid to foster its financial inclusion drive, First City Monument Bank (FCMB) through Its agency banking network EasyAgents has offered over N40 billion worth of microloans to over 300,000 beneficiaries. EasyAgents since its establishment has been able to provide over one million unbanked Nigerians with easy access to financial services.

Source: FCMB

FCMB has sought to support and fund as many as 200,000 women traders with access to over $51 million in a bid to help their businesses thrive against the harsh economic environment of the country. The Nigerian-based bank is keen on integrating traders, farmers, and other local artisans into the formal economy, as they are major contributors to the economy. FCMB through agency banking seeks to create new initiatives that would foster access to affordable and sustainable financial services in the rural regions in Nigeria.

Moving forward, FCMB will look to stretch its services to other parts of the country and improve the quality of financial services available to these areas. In addition, the bank will hope to become pioneers of the financial inclusion drive in. Nigeria and further eliminate the barriers that exist to accessing quality banking services.

Nigeria in focus:

Population: 206.1 million in 2020 as compared to 201 million in 2019

GDP: $432.3 billion compared to $448.1 billion in 2019

GDP per capita: $2,097 in 2020 compared to $2,229 in 2019

Financial inclusionEventNewsReportOpinion

Gabriel Enyinwa

Writer | Columnist