The bank said in a statement that the service inaugurated recently, was aimed at rendering financial services from its ATM to people without bank accounts or payment cards.
It said that the inauguration was inspired by the passion to serve and extend financial services to the “unbanked and under-banked.’’
The bank said that the fund transfer service was aimed at complementing the cashless policy of the Central Bank of Nigeria (CBN) and achieving financial inclusion of the “unbanked and under-banked.’’
Mr Bisi Onasanya, the Managing Director of First Bank, said that financial inclusion remained a panacea for sustainable economic development, enhanced entrepreneurship and wealth creation.
“With this innovative offering, our existing and prospective customers now have another platform to enjoy hitch-free money transfer services.
“First Bank as a leading player in the sector is proud to spearhead the quest for financial inclusion as CBN targets unbanked 50 million Nigerians,” Onasanya said.
Mrs Folake Ani-Mumuney, the Head of Marketing and Corporate Communication, said that the fund transfer service was targeted at customers who needed to transfer funds to individuals who did not have payment card or bank accounts for instant cash retrieval.
Ani-Mumuney said that the product provided fast, convenient, reliable and secure way of transferring money.
She said that it created a platform for many more Nigerians, especially the low income earners and rural dwellers to take advantage of the bank’s range of tailored financial services. (NAN)