FirstBank to hold 4th FirstGem annual conference

By Babajide Komolafe

First Bank of Nigeria Limited has increased its network of International Money Transfer Operators, IMTOs, in order to expand diaspora remittance inflow into the country.

The bank in a statement said that the increase is targeted at easing the accessibility of its customers to receive money from close to 100 countries across the world in a safe and secured manner.

The bank stated: “With over 750 branches across the country, customers can receive money from the nearest FirstBank branch closest to them.

“Over the years, FirstBank has been in partnership with Western Union, MoneyGram, Ria, Transfast, and World Remit.

The bank is also in partnership with other IMTOs which include Wari, Smallworld, Sendwave, Flutherwave, Funtech, Thunes and Venture Garden Group to promote remittance inflow into the country, thereby putting Nigerians and residents at an advantage in receiving money from their families, friends and loved ones across the world.

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“Beneficiaries can receive remittance in US dollars in any of our over 750 branches spread across the country. Customers without an existing domiciliary account can have dollar account automatically created for their remittances. You can also receive inflow directly into your account through Western Union.

“In addition, First Bank has launched its wholly owned remittance platform named First Global Transfer product to promote the international transfer of funds across its subsidiaries in sub-Saharan Africa. These subsidiaries include FBN Bank DRC, FBN Bank Ghana, FBN Bank Gambia, FBN Bank Guinea, FBN Bank Sierra-Leone, FBN Bank Senegal’, the bank said.

Reiterating the bank’s resolve in promoting diaspora remittances, regardless of where one is across the globe, the Deputy Managing Director, Mr Gbenga Shobo said: “At First Bank, expanding our network of International Money Transfer Operators is in recognition of the significant roles diaspora remittances play in driving economic growth such as helping recipients meet basic needs, fund cash and non-cash investments, finance education, foster new businesses and debt servicing.

’’We are excited about these partnerships, as it is essential to ensure our customers are at an advantage to receive money from their loved ones and business associates, anywhere they are, across the world.”

First Bank pioneered international funds transfer and remittances over 25 years ago and has been at the forefront of promoting cross border payments in the country, having started the journey with Western Union Money Transfer. The Bank’s wealth of experience and operation in over 750 locations nationwide gives it the edge in the market.

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