In furtherance of the need to expand diaspora remittance inflow into the country, Nigeria’s leading retail bank, First Bank of Nigeria, has expanded its network of International Money Transfer Operators (IMTOs).
The move, according to the bank, will ensure that customers have easy access to sending or receiving money from close to 100 countries across the world in a safe and secured manner.
With over 750 branches across the country, customers can receive money from the nearest FirstBank branch closest to them, while its fully owned remittances platform named First Global Transfer is promoting the international transfer of funds across its subsidiaries in six sub-Saharan African countries.
These subsidiaries include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal.
Over the years, FirstBank has been in partnership with Western Union, MoneyGram, Ria, Transfast, and WorldRemit.
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The bank is also in partnership with other IMTOs which include Wari, Smallworld, Sendwave, Flutherwave, Funtech, Thunes and Venture Garden Group, to promote remittance inflow into the country thereby putting Nigerians and residents at an advantage in receiving money from their families, friends and loved ones across the world.
Reiterating the Bank’s resolve in promoting diaspora remittances, regardless of where they are across the globe, the Deputy Managing Director, Mr Gbenga Shobo, said; “at FirstBank, expanding our IMTO network in recognition of the significant roles diaspora remittances play in driving economic growth; such as helping recipients meet basic needs, fund cash and non-cash investments, finance education, foster new businesses and debt servicing.
“We are excited about these partnerships, as it is essential to ensure our customers are at an advantage to receive money from their loved ones and business associates across the world.”
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Shobo said beneficiaries can receive remittance in US dollars in any of the bank’s over 750 branches spread across the country. Customers without an existing domiciliary account can have dollar account automatically created for their remittances. You can also receive inflow directly into your account through Western Union.
FirstBank pioneered international funds transfer and remittances over 25 years ago and has been at the forefront of promoting cross border payments in the country, with its partnership with Western Union Money Transfer. The Bank’s wealth of experience and operation in over 750 locations nationwide gives it the edge in the market.
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