First Bank of Nigeria (FirstBank) has recorded a major milestone in its digital lending operations after disbursing over N1 billion in loans within a single day through its salary-backed digital loan product, FirstAdvance.
The bank announced that the achievement reflects the growing demand for quick and accessible digital credit solutions among Nigerians, particularly salary earners seeking short-term financial support without the need for collateral.
According to FirstBank, the milestone highlights increasing customer confidence in its digital banking channels and demonstrates the effectiveness of its technology-driven financial services.
Speaking on the development, the Group Executive for eBusiness and Retail Products, Chuma Ezirim, described the achievement as a significant moment for the bank’s digital banking strategy.
“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,” Ezirim said.
The latest achievement comes after FirstBank celebrated surpassing N1 trillion in cumulative digital loan disbursements in 2025, driven largely by automated credit assessment systems that evaluate customers in real time.
Through platforms such as FirstMobile, USSD banking, LitApp, and the FirstMonie Agent network, eligible customers can access short-term loans within minutes without visiting a bank branch or completing physical documentation.
Industry observers believe the increasing adoption of digital lending is being driven by economic realities, with many consumers relying on instant credit facilities to manage emergencies, bills, and temporary cash flow challenges.
FirstBank said the milestone further reinforces its position as one of Nigeria’s leading retail and digital banking institutions.
Beyond salary-backed loans, the bank has also expanded other digital credit products to cater to different customer categories.
These include FirstCredit, designed for non-salaried individuals engaged in business activities, and AgentCredit, which provides short-term liquidity support to operators within the bank’s FirstMonie agency banking network.
The bank stated that these products help improve financial inclusion and provide working capital support to individuals and businesses across the country.
Source: First Bank of Nigeria Limited.
