Firstmonie wins best mobile money operator in Nigeria, records 2million subscribers

By The Citizen
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In recognition of its continued effort to drive financial inclusion, lead innovation in mobile payment systems and support the CBN cash-less policy, Firstmonie, the FirstBank mobile money services platform has been awarded the Best Mobile Money Operator in Nigeria by the EFInA Financial Inclusion Awards.

This award recognises a leading mobile money operator that is making impact that has significantly driven the uptake of mobile money in Nigeria.

EFInA created the financial Inclusion Awards to celebrate organisations that have made significant contribution to financial inclusion in Nigeria

According to the Head, Marketing and Corporate Communications, FirstBank, Folake Ani-Mumuney, we have led financial inclusion for over 120years and Firstmonie is creating the largest Agent network and liquidity management infrastructure in Nigeria to support the operations of its mobile payment service, which undoubtedly, will be a great asset to the proposed financial empowerment of the under privileged and the unbanked section of the economy.

Also speaking on the award, the MD Pridar Systems Limited, Mike Ogbalu said that the award is a testament to our leading position in driving innovative mobile payment systems and our commitment to continuously deliver innovative products and solutions, part of which includes enhancing the robustness of our mobile banking and mobile payments platforms. Our ultimate aim is to create more value for our customers.

Firstmonie is designed to enhance financial inclusion and cater for millions of Nigeria's unbanked and the underbanked citizens, as well as align with the Central Bank of Nigeria's policy to promote a cashless or cash-lite economy in Nigeria. The Firstmonie solution was provided to entrench e-banking through the use of the mobile phone and to mitigate the challenges of banking services delivery to the vast unbanked market.

For persons wishing to use the Firstmonie service, it is open to subscribers of all major GSM networks across the nation and registration is initiated by dialing *894# and following the prompts. Alternatively, subscribers can sign up online at or at any Firstmonie agent location nationwide.

The Firstmonie platform also recently recorded a milestone achievement with the attainment of 2 million registered subscribers on the network.

First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, is Nigeria's leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.

FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,464 ATMs and over 9 million customer accounts.  The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, Banque International de Credit (B.I.C) in the Republic of Congo, International Commercial Bank (ICB) in Ghana, The Gambia, Guinea, Sierra-Leone and Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.

FirstBank is the recipient of many awards. The Bank has been named 'The Best Bank Brand in Nigeria' three times in a row - 2011, 2012, 2013 - by the globally renowned 'The Banker Magazine' of the Financial Times Group. FirstBank's brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision 'To be the partner of first choice in building your future'. The brand promise is to always deliver the ultimate 'gold standard' of value and excellence. This commitment is anchored on the FirstBank's inherent values of passion, partnership and people, to position its customers first in every respect.

For three consecutive years, 2012, 2013 and 2014, FirstBank was named the 'Best Retail Bank in Nigeria' by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the 'Best Bank in Nigeria' in the Euromoney Awards for Excellence, 'Best Bank in West Africa' and 'Most Innovative Bank in Africa' in the African Banker Awards, 'Best Bank in Nigeria' in the EMEA Finance African Banking Awards for the fourth time, 'Best Foreign Exchange Services in Africa' in the EMEA Finance Treasury Services Awards, 'Best Banking Group in Nigeria' by World Finance Banking Awards, and 'Best Financial Reporting Company' by Africa Investor.