Financial inclusion: First Bank to engage 500,000 agents

The Chief Executive Officer (CEO), First Bank Nigeria PLC, Dr Adesola Adeduntan, said the bank will engage 500,000 agents across the country to ensure that its services were made available to people in every nook and cranny.

Adeduntan made this known on Tuesday at opening of the 12th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN), in Abuja.

The theme of the conference is “the future of Nigerian banking sector 360”.

The First Bank CEO said that the bank would support all effort to ensure effective financial inclusion in the country.

“We have a very ambitious plan to appoint about 500,000 agents across the nook and cranny of our country and to ensure that banking facilities and services are made available to our people.

“The Acting Governor of Central Bank, Joseph Nnanna, has also highlighted that the primary purpose for the Central Bank for choosing minimum loan to deposit ratio to 60 per cent is to stimulate the economy.

“This is because without credit, the economy cannot grow,” he said.

According to him, the banking sector remains the primary partners to government as far as economic growth and development are concerned.

He noted that change in the industry was unprecedented especially with the available technology and the leveraging on artificial intelligence, robotic operations, among others.

“If we do not integrate those opportunities and mainstream them properly the country and the entire economy will be left behind,” he added.

He called on participants to ensure robots participation in order to get blue print of what could help the sector for the growth and development of the economy.

It was reported that Adeduntan is the chairman of the organising committee of the conference.