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First Bank of Nigeria Limited (FirstBank), one of Nigeria’s leading banks, has announced expansion of its network of International Money Transfer Operators (IMTOs). The bank said in a statement, today, that the expansion will broaden diaspora remittance inflow into the country.

According to the statement FirstBank sent to Financial Nigeria, the service expansion is also aimed at easing the accessibility of its customers to receive money from close to 100 countries across the world in a safe and secured manner. With over 750 branches across the country, customers can receive money from the nearest FirstBank branch closest to them, the bank said.
 
Over the years, FirstBank has been in partnership with Western Union, MoneyGram, Ria, Transfast, and WorldRemit. The bank is also in partnership with other IMTOs which include Wari, Smallworld, Sendwave, Flutherwave, Funtech, Thunes and Venture Garden Group to promote remittance inflow into the country, thereby enabling Nigerians and residents to receive money from their families, friends and loved ones across the world.
 
FirstBank said beneficiaries can receive remittance in US dollars in any of its branches. Customers without an existing domiciliary account can have dollar account automatically created for their remittances. They can also receive inflow directly into their account through Western Union.
 
In addition, FirstBank has launched its wholly owned remittance platform named First Global Transfer product to promote the international transfer of funds across its subsidiaries in sub-Saharan Africa. These subsidiaries include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank Senegal.
 
“At FirstBank, expanding our network of International Money Transfer Operators is in recognition of the significant roles diaspora remittances play in driving economic growth such as helping recipients meet basic needs, fund cash and non-cash investments, finance education, foster new businesses and debt servicing,” said Deputy Managing Director of FirstBank, Gbenga Shobo, reiterating the bank’s resolve in promoting diaspora remittances, regardless of where one is across the globe. “We are excited about these partnerships, as it is essential to ensure our customers are at an advantage to receive money from their loved ones and business associates, anywhere they are, across the world.”
 
FirstBank has been offering international funds transfer and remittances for over 25 years and has been at the forefront of promoting cross border payments in the country, having started the service with Western Union Money Transfer.