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FirstBank Celebrates ₦1 Trillion Milestone in Instant Loans via AI-Powered Platforms

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FirstBank, a leading financial institution and provider of financial inclusion services in West Africa, announces the achievement of ₦1 trillion in cumulative instant digital loan disbursements.

This accomplishment further consolidates the Bank’s reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.

Since its inaugural digital loan in August 2019, FirstBank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment.

The Bank created a multi- channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions. Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit.

This is irrespective of whether they are salary earners, non-salary earners, or micro business owners. They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.

Regarding this milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.’’

He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”

FirstBank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians. By consistently investing in advanced technologies and developing customised financial solutions, the Bank seeks to improve the financial well-being of individuals and businesses across the nation.


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MTN Nigeria Unveils Unlimited 5G Broadband Plans to Power Digital Lifestyles

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MTN Nigeria has entered the unlimited data market with the launched its Unlimited Broadband Data plans powered by 5G technology in a move the tech giant states is designed to resolve major frustrations faced by Nigerian internet users, capped data volume limits, high costs, and unstable connectivity.

The new proposition is positioned by the company as a transformative product intended to support high-demand users, from streamers and gamers to households and businesses requiring uninterrupted connectivity.

The unlimited broadband data plans focus on providing the necessary high-speed infrastructure to support contemporary Nigerian digital demands and enable customers to “Stay Limitless”.

This includes guaranteeing the stable connection required for virtual meetings and large file transfers, crucial for remote work and digital lifestyle expressions. It also aims to facilitate uninterrupted online learning, high-definition streaming, and professional online gaming.

Commenting on the rationale behind the launch, Egerton Idehen, Chief Broadband Officer of MTN Nigeria, emphasised the company’s commitment to improving connectivity and driving inclusion. “We’re building a broadband experience for everyday life. For content creators, remote workers, gamers, students and households.

“Our focus is on speed, reliability, low latency, and affordability. Broadband is designed to deliver seamless connectivity that empowers Nigerians to thrive in the digital economy,” he stated.

The technology company is differentiating its plan by highlighting the capabilities of its network, promising lightning-fast speeds and ultra-low latency, a direct response to the pervasive problem of connection lag and buffering. Furthermore, the network will offer affordable and flexible options, designed to cater to diverse economic segments, ensuring accessibility for both individuals and households.

The new plans are available in speed-based variants of 50Mbps and 100Mbps, designed to cater to a wide range of users and smart homes. New customers that purchase a 5G router will enjoy a welcome bonus offer of unlimited data for the first 30 days, allowing them to experience the Power of Unlimited 5G!

It aims to convert interest into subscription through immediate incentives such as attractive bundles and device tie-ins, offering exclusive deals on 5G routers to ease the transition for new users.

Customers interested in the new Unlimited Broadband Plans can access them by dialing *461*1#, on MyMTNApp, MTN eShop, MTN website, visiting any authorised retail store, or by speaking with an agent to enquire about available packages.


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Alpha Morgan Sues 19 Banks over N230.9m Loss

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Alpha Morgan Bank Limited, a new generation bank, has dragged 19 banks in Nigeria before the Federal High Court in Lagos in its quest to recover the sum of N230.9 million that was fraudulently withdrawn from the accounts of two of its customers due to a system glitch.

Alpha Morgan Sues 19 Banks over N230.9m Loss

Alpha Morgan Bank claimed in the suit that the funds belonging to NEM Insurance Plc and Extension Publications Limited were stolen from its vault and allegedly fraudulently transferred into multiple accounts across 19 financial institutions.

The bank is requesting an order from the court, directing the 19 financial institutions to reverse and remit to Alpha Morgan Bank all funds illegally debited from the customers’ settlement and collection accounts and transferred into the accounts of the defendants’ customers.

The suit was filed by Alpha Morgan Bank, alongside the affected customers.

In an affidavit filed in support of the suit and deposed to by Dayo Abe,  litigation officer, the plaintiffs averred that several digital financial services agents had taken advantage of a system glitch in the bank’s operations.

Abe alleged that the agents, acting as service providers and holding accounts with some of the defendant financial institutions, used the glitch to unlawfully make several transfers from the accounts of NEM Insurance Plc and Extension Publications Limited.

He also claimed that N230,978,536 was illegally transferred from the customers’ accounts, which were domiciled with Alpha Morgan Bank, into various accounts belonging to individuals across 19 financial institutions.

The Plaintiffs further stated that following the bank’s complaint, the affected financial institutions placed temporary “no-debit” restrictions on the implicated accounts.

Abe alleged that the perpetrators continued to transfer the illicit funds into other accounts linked to their Bank Verification Numbers (BVNs), raising concerns that the funds could be completely dissipated unless all accounts connected to the suspected fraudsters were immediately frozen.

He argued that failing to block all accounts associated with the perpetrators would result in continued illegal withdrawals, thereby exposing investors’ and shareholders’ funds to risk further.

The Plaintiffs also submitted that the system glitch and the resulting fraud have caused severe financial hardship and that urgent court intervention is necessary to prevent additional losses.


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7,500 African SMEs to Receive AI and Digital Trade Skills Through New Google and AfCFTA Secretariat Programme

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Thousands of small and medium-sized enterprises (SMEs) across Nigeria and the African continent can now gain critical AI and digital skills to expand their businesses and trade continent-wide. Google and the African Continental Free Trade Area (AfCFTA) Secretariat have launched the ‘AfCFTA Digital Inclusion & Entrepreneurship Programme,’ a new, free training initiative powered by the Google Hustle Academy.

Small businesses are the backbone of Africa’s economy, generating nearly 80% of jobs across the continent. This programme is designed to close the digital skills gap by providing entrepreneurs with AI-powered solutions and localized training that addresses the real-world demands of today’s market. The initiative will build on the success of the Google Hustle Academy, which has supported over 18,000 SMEs across Africa since 2022.

H.E. Wamkele Mene, Secretary-General of the AfCFTA Secretariat, commented on the partnership’s significance. “The Programme aligns with the transformative goal of the AfCFTA, particularly outlined in the Protocol on Digital Trade and the Protocol on Women and Youth in Trade, to position MSMEs, women, youth, persons with disabilities, rural farmers, and other stakeholders as key drivers and beneficiaries of the AfCFTA.  It  is the demonstration of our commitment to fostering digital inclusion and empowering MSMEs to trade under the AfCFTA using digital technologies.”

“Technology is a powerful equalizer, and this partnership is about providing thousands of African entrepreneurs with the practical tools and knowledge to unlock new opportunities,” said Charles Murito, Google’s Regional Director for Government Affairs and Public Policy in Sub-Saharan Africa.

“By focusing on critical areas like AI, e-commerce, and cross-border trade, we’re helping to build a more connected and prosperous digital ecosystem across the continent. This is a testament to our ongoing commitment to Africa’s vibrant and dynamic business community.”

A Curriculum for Continental Growth

The training focuses on action-oriented learning through three core modules, and will be delivered in English, French, Arabic, and Portuguese to ensure accessibility for entrepreneurs across Africa.

Cross-Border Digital Trade: Co-created with the AfCFTA Secretariat, this module turns policy into practice. Entrepreneurs will learn to find new markets, adapt products, and master the logistics of cross-border payments and shipping.

Cloud for Small Businesses: This module focuses on using cloud tools to boost efficiency and cut costs. Participants get hands-on training with Google Workspace for teamwork and Google Cloud for secure operations.

AI for Productivity: This module provides practical skills to scale a business using AI. Entrepreneurs will learn to use tools like Google Gemini to automate tasks, create marketing content, and analyze customer data.

UpSkill Universe, a leading digital skills training provider, will manage the programme delivery. “Entrepreneurs across Africa are already driving change. We recognise the challenges they face, from the rise of AI to shifting customer behaviours,” said Gori Yahaya, CEO of UpSkill Universe. “This collaboration ensures we can equip businesses with the practical tools and technologies they need to grow, scale, and thrive.”

Eligibility and Application Details

Applications for the programme are now open. The initiative is designed for SMEs that have been in operation for at least six months and are based in selected AfCFTA member states, including Nigeria, Kenya, South Africa, Ghana, Cameroon, Senegal, Togo, Côte d’Ivoire, Rwanda, Mauritius, Ethiopia, Tanzania, Namibia, Zambia, Angola, Mozambique, Egypt, Tunisia, and Morocco.


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