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COVID-19: FIRSTBANK’S FIRSTMONIE LEADS THE PACE IN AGENT BANKING
By Bolatito Adebola
In this COVID-19 era where movement is restricted in some major parts of the world – including Nigeria – with many Banks and business reengineering efforts to improve the adaptability of their customers to electronic ways of carrying out business, Firstmonie Agents, an agent banking initiative from First Bank of Nigeria Limited is bridging the gaps and helping people to meet their needs of accessing the funds to buy food items and groceries as well as to send money to their loved ones.
This is one of the many measures by the premier financial institution in Nigeria to support the need to promote social distancing and the reduction of physical interactions of people in large numbers, thereby guarding against the spread of the coronavirus.
FirstBank introduced this innovative channel three years ago, with the aim of bringing banking to close those who live
in the rural areas and to every Nigerian -regardless of where they are in the country.
Firstmonie Agents also ensure individuals in the suburbs do not have to travel for long hours to the city for their banking activities. The gap between the tech-savvy and the low literacy clients has been bridged as Firstmonie Agent network represents the convenient and comfortable alternative for customers that are unacquainted with the sophisticated digital channels.
With over 53,000 Firstmonie Agents spread across 99% Local Government Areas in the country, the laudable initiative by FirstBank is another way to bank – without visiting a Bank – which allows you to make cash deposit, transfer money to any bank and enjoy other banking services like bills payment and purchase of recharge card amongst others.
Recently, Halima, a FirstBank customer who is a housewife and petty trader, residing in a remote area in Abuja expressed her delight on the Firstmonie Agent initiative as she was able to easily get cash from an agent nearby to procure groceries for herself and her three children. Her bank being far away in Garki was too far to visit to get money. Thanks to Firstmonie which she discovered through her co-tenant, her joy knew no bounds as Halima was able to access her money at the Firstmonie Agent outlet close to her, as well as send money to her mother in far away, Maiduguri in Borno State.
Another customer in Lagos, Adeoye, a civil servant also lauded this brilliant initiative from FirstBank and narrated his experience when he visited the stand of Firstmonie in Ojota area of Ogudu, Lagos. He explained that he was able to do his transaction with ease.
According to Mrs. Sadia Folorunsho, she said ‘I did not know FirstBank has this wonderful service within my area as it actually saved my family from hunger as I was able to perform banking activities without being in the bank,’ she stated.
These are what the management of First Bank of Nigeria Limited, led by its CEO, Dr. Adesola Adeduntan has been able to make available well ahead of time, since no one knew there might be a pandemic that will warrant a lockdown.
Its Firstmonie Agents at every nook and cranny in Nigeria has been able to remove the burden from the shoulders of Nigerians and allow many to carry out several transactions at Firstmonie Agent locations, within close proximity of their home.
Firstmonie Agent banking is a channel specifically designed by FirstBank to bring financial services closer to the unbanked and underbanked segment of the society whilst promoting existing businesses within the communities to deliver their services and contribute to the growth and development of the economy.
With the spread of its Agent Banking network, FirstBank has been able to indirectly create over 150,000 jobs as the Firstmonie Agents have had to employ the services of other individuals to build their businesses and meet the financial needs of individuals in its community.
So far, the Bank has deepened financial inclusion through Firstmonie Agents with 237.3 million transactions processed through the network at a monetary value of over 4.08 Trillion Naira.
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GTBANK NAMED BEST OVERALL PERFORMING BANK IN NIGERIA IN THE BANKER’S TOP 1000 WORLD BANKS RANKINGS 2026
Guaranty Trust Bank Ltd (“GTBank” or the “Bank“), the flagship banking subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group“), has been named the Best Overall Performing Bank in Nigeria in The Banker magazine’s Top 1000 World Banks Rankings 2026.
The recognition reaffirms GTBank’s position as one of Nigeria’s leading financial institutions and reflects the Bank’s consistent delivery of strong financial performance, operational excellence, and sustainable growth. The rankings evaluate banks globally using audited financial results, assessing institutions across financial strength, operational efficiency, risk management, liquidity, growth, and profitability.
GTBank ranked 1st Overall as best performing Bank and also ranked 1st in Efficiency and Soundness. The Bank secured 2nd place in other metrics such as Return on Risk, Liquidity, Growth, Leverage and Profitability, demonstrating exceptional performance across all major Banking metrics
Speaking on the achievement, Mrs Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Being named the Best Overall Performing Bank in Nigeria by The Banker is a recognition that means a great deal to us, not just because of the prestige of the publication, but because of what it represents; the hard work of our People, the loyalty of our Customers, and the strength we continue to draw from being part of the Group. Ranking 1st in Overall Performance, Efficiency, and Soundness reflects our disciplined approach to banking, the synergies we harness across the GTCO Group, and our relentless focus on delivering real value. We do not take this recognition for granted. It deepens our resolve to keep raising the bar, to serve our customers better every day, and to remain a Bank that consistently delivers value to all its stakeholders, and to the GTCO Group we are proud to belong.”
This recognition reinforces GTBank’s position as one of Africa’s leading Banking franchises and reflects the strength of its business model, disciplined execution, and sustained investment in innovation. It adds to the Bank’s growing portfolio of international accolades and underscores its enduring commitment to delivering exceptional customer experiences, driving sustainable growth, and creating long-term value for customers, shareholders, and the communities it serves.
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GTCO Launches Second Edition of #BeatTheDistance Initiative, Donating 3,000 Bicycles Across Six States in Nigeria
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the 2026 rollout of its social impact initiative called #BeatTheDistance.This is a nationwide intervention aimed at supporting school children in underserved communities through the provision of bicycles to ease their daily commute to school.
Marking the second edition of the initiative, GTCO will distribute 3,000 bicycles to schoolchildren across six states in Nigeria—Ebonyi, Jigawa, Benue, Oyo, Akwa Ibom, and Ekiti. The programme builds on the impact of its inaugural rollout in 2019 and underscores the Group’s commitment to improving access to education through practical, community-focused interventions.
By helping to reduce the transportation challenges faced by students who travel long distances to attend school, the initiative seeks to improve school attendance, support learning outcomes, and create opportunities for young people to pursue their education with greater ease and confidence.
Speaking on the initiative, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr Segun Agbaje, said: “Education remains one of the most powerful tools for transforming lives and creating opportunities. Through the #BeatTheDistance Initiative, we are supporting students whose determination to learn is often tested by the distance they travel each day to access education. By providing these bicycles, our goal is to create an environment where more children can achieve their full potential by reducing fatigue, improving attendance at school, and expanding learning outcomes for children of school age.
He further added: “At GTCO, we believe that meaningful impact comes from addressing real challenges within communities. #BeatTheDistance is one of the ways we are investing in the future by supporting young people and helping to create conditions that enable them to succeed. We remain committed to initiatives that promote inclusion, expand access to opportunities, and contribute to sustainable development.”
The initiative forms part of GTCO’s broader commitment to social impact and sustainable development, particularly in the areas of education, youth empowerment, and community advancement. By helping students spend less time commuting and more time learning, #BeatTheDistance continues to deliver practical support where it is needed most, empowering young people to pursue their education and unlock their full potential.
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ZENITHBANKCHAMPIONSTRADEANDINVESTMENTAT6THCANADA-AFRICABUSINESS CONFERENCE
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ZenithBankPlcreaffirmeditscommitmenttoadvancingtrade,investmentandeconomiccooperationbetweenCanadaandAfricaastheHeadlineConferenceSponsorofthe6thCanada-AfricaBusinessConference, held on Wednesday, 24 June 2026 at Eko Hotel & Suites, Victoria Island, Lagos.OrganisedbytheCanada-AfricaChamberofBusiness,theconferencebroughttogetherahigh-levelCanadian business delegation representing 31 companies, alongside senior government officials, businessleaders, investors, policymakers, diplomats and development partners. The gathering set out to strengthencommercial relations between Canada and Africa and to position Nigeria as a strategic gateway for Canadianbusinesses seeking opportunities across the continent.The Canadian delegation comprised companies and institutions operating across financial services, security,mining andcritical minerals,legal andprofessional services, infrastructure, technology, healthcare, educationand clean energy. Among those present were GardaWorld, Dentons, Baywood Group, Element, Trilliant andother leading Canadian enterprises exploring commercial opportunities and strategic partnerships in Nigeria.The Executive Director of Zenith Bank Plc, Mr. Akin Ogunranti, who delivered the keynote address on behalfof the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, described the conference as a timelyplatform for deepening commercial partnerships between Canada and Africa amid shifting global economicrealities. He underscored Africa’s readiness to lead the next phase of global economic growth, stressing thatthecontinent now possessestheinstitutions,policy frameworks andpartnershipsrequiredtoturn its immensepotential into shared prosperity.“The question is not whether Africa is rich in potential. It is whether we can turn that potential into prosperityour people can feel. For the first time, the answer is yes, because of the machinery we are now building,” hesaid.RepresentingtheGovernorofLagosState,HisExcellencyMr.BabajideSanwo-Olu,thePermanentSecretary, Ministryof Commerce, Cooperatives, Trade andInvestment, Mr. Babatunde Onigbanjo,reaffirmedthe State Government’s commitment to fostering an enabling environment for investment and internationalpartnerships, and highlighted Lagos’ position as Nigeria’s commercial hub and gateway to African markets.“Canada bringstothe tableconsiderable expertise,capital, innovation,and astrong traditionof institutionbuilding.Africa,andindeedLagos,offerscale.Weoffertalent,creativity,marketopportunitiesandanincreasingly sophisticated business environment. Together, these strengths create a compelling foundationfor transformative partnership,” he said.Speaking at the event, the Deputy High Commissioner of Canada to Nigeria, Mr. Carlos Rojas-Arbulú, notedthattheconferencereflectsthegrowingmomentuminbilateralcommercialcollaborationbetweenbothcountries. He said: “The relationship between Canada and Nigeria is not new. It is rooted in diplomacy, trade,education,culture,migration,andshareddemocraticvalues.Buttoday,Ibelieveweareenteringanewchapter: one that is more ambitious, more practical, and more human.” -
TheChairoftheBoardoftheCanada-AfricaChamberofBusiness,PaulaCaldwellSt-Onge,highlightedNigeria’sgrowing economic significance,saying: “Nigeria’s growth isnot theoretical.It is alreadybeing built byNigerian entrepreneurs, investors, financial institutions, innovators and companies whose ambition reachesacross Africa and around the world.”She also acknowledged Zenith Bank’s role in advancing the conference’s objectives, stating: “Zenith Bank isnot only oneof Africa’s leadingfinancial institutions, it isthe capital behindwhat you seehere today, and itrepresents the skill, ambition, discipline, innovation and excellence that this conference seeks to showcase.”Theconferencefeaturedhigh-levelpaneldiscussionsonCanada-Africacommercialrelations,investmentopportunitiesacrossprioritysectors,andtheimplementationoftheAfricanContinentalFreeTrade Area(AfCFTA). The sessions brought together policymakers, business executives and industry experts to identifypracticalpathwaysforstrengtheningcommercialpartnershipsandacceleratingsustainableeconomicdevelopment.The conference is expected to strengthen Nigeria’s attractiveness as a destination for Canadian investment,while opening new opportunities for technology transfer, private sector collaboration, job creation and long-termeconomicgrowth.ItalsoreinforcesNigeria’spositionasastrategichubforbusinessesseekingtoaccess opportunities across Africa under the AfCFTA, supporting the country’s ambition to expand its role inregional and global trade.
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