First Bank of Nigeria Ltd, Firstmonie has announced that it has secured a grant of $12million US dollars from the Bill & Melinda Gates Foundation to assist in driving financial inclusion in Nigeria.
According to Firstmonie, the granct will help deepen the penetration of its mobile financial services in Nigeria to the underbanked and low income communities
The platform is also expected to support wealth creation by providing opportunities for thousands of entrepreneurs across the nation and encourage financial inclusion through the availability of banking services for the unbanked and under-banked.
The Head, Mobile Financial Services, for FirstBank, Mr. Mike Ogbalu, said ‘‘the rigorous process of securing the foundation grant included a review of our business strategy, target market outreach plans, agent site visits and interviews.
