FirstBank launches cash alternative

Aug 07, 2012

FirstBank of Nigeria has launched a new system as part of the country's efforts to encourage the use of cash alternatives.

FirstBank of Nigeria has launched a new system as part of the country's efforts to encourage the use of cash alternatives.

The institution's Automated Teller Machine Transfer Service has been described as an "innovative offering" that allows its customers to transfer funds in a different way, the Daily Trust reports.

Folake Ani-Mumuney, head of marketing and corporate communications at FirstBank, said the service is being aimed towards those who need to transfer money to individuals "who do not have immediate access to a payment card or bank account for instant cash retrieval".

She described the system as secure and reliable, as well as speedy and convenient.

Bisi Onasanya, chief executive of the firm, added that the facility should enable both existing and future customers to enjoy "hitch-free" money transfer services.

He said FirstBank is proud to lead the way in promoting financial inclusion, as the Nigerian central bank aims to get millions of people without bank accounts involved in the country's financial system.

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