FirstBank achieves N1 billion daily disbursement for FirstAdvance digital loan product

First Bank of Nigeria Limited has reached a significant milestone, disbursing N1 billion in a single day through its FirstAdvance salary-backed digital loan product. This achievement highlights a growing reliance on automated, short-term credit solutions by consumers to manage immediate financial needs without traditional collateral. According to Chuma Ezirim, Group Executive, eBusiness and Retail Products at FirstBank, this milestone reflects the strength of the bank's digital capabilities and commitment to providing quick and convenient credit access. The bank previously celebrated N1 trillion in cumulative digital loan disbursements in 2025, driven by data-backed credit scoring models. FirstBank utilizes various electronic channels, including its USSD platform, FirstMobile app, LitApp, and FirstMonie Agent network, to enable salary earners to access short-term credit in under a minute without physical paperwork. This surge in automated lending is attributed to a macroeconomic environment where instant micro-credit helps consumers manage short-term billing cycles and emergencies. FirstBank also offers alternative digital credit products like FirstCredit for non-salaried individuals and AgentCredit for institutional operators within its agency banking arm, aiming to provide immediate working capital and bridge liquidity constraints in underserved communities.