FirstBank has announced a major milestone for its digital lending business, revealing that its flagship salary-backed loan product, FirstAdvance, has reached a daily disbursement value of N1 billion.
The achievement highlights the growing demand for digital credit solutions in Nigeria and reflects increasing customer reliance on technology-driven financial services that provide quick access to funds without the traditional requirements associated with lending.
In a statement issued by the bank, FirstBank said the milestone demonstrates its commitment to providing innovative and accessible financial solutions while strengthening financial inclusion through digital channels.
FirstAdvance is designed specifically for salary earners and allows eligible customers to obtain short-term loans within minutes, without collateral or lengthy approval processes. According to the bank, the product enables customers to address urgent financial needs through a seamless and fully digital process.
The lender noted that the N1 billion daily disbursement record is evidence of rising customer confidence in its digital banking platforms and the effectiveness of its technology-driven service model.
“FirstAdvance is a convenient loan offering for salary earners, that enables FirstBank customers to access short-term credit in less than one minute without collateral, enabling customers to conveniently meet urgent financial needs,” the bank stated.
It added that “This remarkable scale to a N1 billion single day disbursement product reflects increasing customer adoption, trust in FirstBank’s digital platforms, and the effectiveness of its integrated service delivery model.”
Commenting on the development, FirstBank's Group Executive for eBusiness and Retail Products, Chuma Ezirim, described the achievement as a significant milestone in the bank's digital transformation journey.
“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.
He further noted that the accomplishment reinforces FirstBank's position as a leader in Nigeria's retail and digital banking landscape.
“This achievement further strengthens FirstBank’s leadership position in retail and digital banking, demonstrating the Bank’s ability to leverage technology to meet evolving customer needs while driving financial services access and economic participation,” he added.
The latest milestone comes months after FirstBank announced that it had surpassed N1 trillion in cumulative digital loan disbursements in 2025, a landmark that underscored the rapid growth of digital lending across the country's financial sector.
The bank's digital credit ecosystem includes products such as FirstAdvance, FirstCredit and Agent Credit, which are designed to provide individuals and businesses with fast access to financing through data-driven lending models.
Customers can access these services through several digital platforms, including the bank's *894# USSD service, the FirstMobile app, LitApp, and the expansive FirstMonie agent network spread across the country. According to the bank, eligible customers and FirstMonie agents can obtain loans in less than one minute through these channels.
As digital banking adoption continues to rise across Nigeria, FirstBank's latest achievement highlights the growing role of technology in expanding access to credit, supporting economic activity and providing consumers with faster, more convenient financial solutions.