First Bank of Nigeria Limited has recorded a major milestone in its digital lending operations, disbursing N1 billion in a single day through its salary-backed loan product, FirstAdvance.
The bank said the achievement reflects growing customer dependence on automated short-term credit solutions designed to address urgent cash flow needs without the delays or collateral requirements associated with traditional lending.
According to the financial institution, the record disbursement underscores the strength of its digital infrastructure and the increasing adoption of its technology-driven banking services across Nigeria and other parts of West Africa.
The Group Executive, eBusiness and Retail Products at FirstBank, Chuma Ezirim, described the milestone as a testament to the bank’s digital capabilities and internal collaboration.
“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,” Ezirim said. “We will continue to empower our customers with quick and convenient access to credit, while continuously enhancing their overall banking experience.”
The development comes shortly after the bank announced that it had surpassed N1 trillion in cumulative digital loan disbursements in 2025, driven by real-time, data-backed credit scoring systems.
Through digital channels such as USSD banking, the FirstMobile app, LitApp, and the FirstMonie agent network, salary earners can now access instant loans in less than one minute without physical documentation.
Market analysts say the surge in digital lending reflects changing economic conditions, with more consumers relying on micro-credit solutions to manage rising living costs, utility payments, and short-term financial gaps.
Ezirim noted that the milestone further reinforces FirstBank’s leadership in retail and digital banking, adding that the institution remains committed to using technology to expand financial access and inclusion.
To diversify its credit offerings, the bank also provides FirstCredit for non-salaried customers engaged in trading activities, as well as AgentCredit, a short-term liquidity product designed for its FirstMonie agency banking partners.
According to the bank, the AgentCredit facility helps ensure liquidity at rural transaction points, supporting uninterrupted financial services in underserved communities.
“Whether it is helping salary earners manage temporary cash flow gaps, empowering individuals engaged in daily economic activities with instant access to credit, or supporting FirstMonie agents with working capital to sustain community banking services, the bank remains committed to delivering innovative and responsible financial solutions that improve lives,” the statement added.
The bank said its expanding digital credit ecosystem is designed to support both individual customers and small-scale financial operators, while strengthening access to financial services across Nigeria.
