First Bank of Nigeria has entered into a first-of-its-kind strategic partnership with the Nigerian Postal Service (NIPOST) to enhance access to its mobile payment solution, FirstMonie.
The bank said the partnership would offer convenient and reliable financial services to the unbanked in Nigeria as well as those that are under-banked.
Through the partnership, FirstMonie will provide mobile financial services in communities where there are NIPOST offices and agents.
Subscribers in such areas will be able to open bank accounts, make cash deposits and withdrawals, pay bills and perform other transactions from their mobile phones.
The partnership, according to Folake Ani-Mumuney, head of marketing and corporate communications at First Bank, is aimed at leveraging FirstMonie’s widely accepted mobile technology to serve Nigerians with the most innovative financial services.
“FirstMonie is available to the general public and is initiated by dialing *894# on MTN, Airtel, Glo and Etisalat lines or visiting https://www.firstmonie.com/iweb.and following the prompts. In addition to driving financial inclusion, FirstMonie supports wealth creation by providing opportunities for thousands of entrepreneurs who serve as merchants and agents instrumental to driving FirstMonie transactions,” she said.