300,000 Under-banked Nigerians get N40bn Micro-loans from FCMB

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As part of its financial inclusion programme, First City Monument Bank (FCMB) Limited has provided microloans valued at N40 billion to over 300,000 beneficiaries comprising 200,000 women traders across the country who have accessed over US$51.28 million (N28.7 billion) of the total loan sum.

Committing to affordable and sustainable financial services for unbanked and under-banked Nigerians, the Managing Director of FCMB, Mrs Yemisi Edun, said: “We are proud of our significant role in integrating Nigeria’s huge informal economy driven by small-scale farmers, traders, artisans, and other small and medium-sized businesses into the formal economy through affordable and sustainable access to financial services. ‘‘Access to financial services enables prosperity and allows disadvantaged and vulnerable people to improve their lives, create wealth and reduce poverty.

‘‘So, we will continue championing and executing initiatives that deepen access to affordable and sustainable financial services in our local communities to empower individuals and businesses”.

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