New: FirstBank’s FirstAdvance Records N1 Billion Daily Loan Disbursement

FirstBank Nigeria has announced that its salary-backed digital loan product, FirstAdvance, has achieved a milestone of N1 billion in daily loan disbursement, highlighting growing customer adoption of the bank’s digital lending services and strengthening its position in Nigeria’s retail banking sector.

The bank disclosed the development in a statement on Tuesday, noting that the achievement reflects increasing trust in its digital platforms and the effectiveness of its technology-driven service delivery model.

According to FirstBank, FirstAdvance enables eligible salary earners to access short-term loans in less than one minute without collateral, providing quick access to credit for urgent financial needs.

The lender stated that the N1 billion single-day disbursement underscores the scale of customer engagement with the product and demonstrates the growing demand for accessible digital credit solutions in the country.

Commenting on the milestone, Group Executive, eBusiness and Retail Products at FirstBank, Chuma Ezirim, said the achievement reflects the strength of the bank’s digital capabilities and collaborative efforts across its operations.

“Achieving N1 billion 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.

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He added that the milestone further reinforces FirstBank’s leadership in retail and digital banking, demonstrating its ability to leverage technology to meet evolving customer needs while expanding access to financial services and supporting economic participation.

The announcement comes months after FirstBank reported reaching N1 trillion in cumulative digital loan disbursements in 2025. The bank attributed the growth to its portfolio of digital lending products, including FirstAdvance, FirstCredit and Agent Credit, which are designed to provide customers and agents with seamless access to credit through data-driven lending platforms.

FirstBank said customers can access its digital loan services through multiple channels, including the *894# USSD banking platform, FirstMobile, LitApp and its extensive FirstMonie Agent network. The bank noted that loans can be processed in less than one minute across these channels.

The latest milestone further highlights the increasing role of digital lending in Nigeria’s financial sector, as banks continue to deploy technology-driven solutions to improve credit accessibility and financial inclusion.