FirstBank Hits ₦1 Trillion Milestone in Instant Digital Loan Disbursements

FirstBank of Nigeria Limited has announced the disbursement of over ₦1 trillion in instant digital loans, marking a significant milestone in its drive to expand financial access through technology.

The announcement was made in a statement released by the bank on Friday.

Since the launch of its digital lending services in August 2019, FirstBank has developed a robust ecosystem powered by Artificial Intelligence (AI) and Machine Learning (ML). This platform is specifically designed to enhance access to credit—especially for high-risk and underserved customer segments—through seamless, real-time lending solutions.

According to the bank, over 1.5 million unique borrowers have benefited from its instant digital loan products, gaining secure and convenient access to credit without the need for collateral or physical documentation.

Speaking on the achievement, Chuma Ezirim, Group Executive, e-Business & Retail Products, said:

“This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria, and Africa at large.”

He further emphasized the bank’s resolve to continue driving digital lending innovations:

“We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”

FirstBank noted that it currently disburses approximately ₦1 billion daily through its digital lending channels. The bank’s loan disbursement model is fully automated, requiring no collateral, no paperwork, and involving no human interaction, making it one of the most accessible and user-friendly lending services in the country.