Firstbank creating sustainable socioeconomic value – Adeduntan


By Kehinde Ibrahim, Lagos

THE chief executive officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan on Friday said the bank, through FirstBank’s Agent banking proposition, is creating sustainable socioeconomic value and empowering rural communities in unique ways.

He disclosed this in Abuja while speaking at the Africa Legislative, Legal & Good Governance Conference organised by African Leadership Organization. According to him, First Bank is focused on programmes that will alleviate poverty as well as grow the Nigerian Economy.

He said, ‘‘First Bank has created over 500,000 direct and indirect jobs to tackle unemployment through the FirstBank’s FirstMonie agent network. ‘‘Over two million individuals have been economically impacted via the jobs created through the FirstBank’s FirstMonie agent banking proposition.

‘‘N56 billion has been paid to agents as commission over the last four years, with the attendant multiplier effect on rural communities. More than 50% of FirstMonie’s agents are in the rural areas, contributing significantly to the development of the rural economy. Over 35,000 of FirstBank’s FirstMonie agents are women, enabling us to drive gender inclusive growth within rural communities. FirstBank recognises the critical role of women (both in rural and urban areas) in driving socio-economic growth.

‘‘FirstBank’s gender focused programme, FirstGem, has sponsored several women empowerment initiatives in the rural communities. As such, the women empowerment initiative was created to cater for women in our communities.’’