In a bid to promote cross-border payments in Sub-Sahara Africa, one of Nigeria’s biggest financial institutions, FirstBank has decided to launch the First Global Transfer (FGT) to aid the transfer of funds across its subsidiaries in sub-Saharan Africa.
The Bank’s subsidiaries in Africa include FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, FBNBank Senegal.
According to FirstBank, the First Global Transfer (FGT) initiative is specifically designed to ensure safe, timely and improved efficiency in the transfer of funds across the network of FirstBank subsidiaries in Africa, emphasizing that the FGT is not restricted to FirstBank and FBNBank Customers alone, but it is also open to every individual resident in the country where the funds transfer is originating from.
“With the launch of African Continental Free Trade Area (AfCFTA) on 1 January 2021, the First Global Transfer (FGT) is indeed very timely as it will play an essential role in stimulating business activities across borders, thereby impacting the growth and development of the continent. I enjoin everyone to visit any one of our branches nearest to you in Nigeria or our subsidiaries in Africa and send money to your loved ones or business partners with FirstBank or FBNBank account(s),” said Dr. Adesola Adeduntan, CEO, FirstBank in a statement to announce the launch.
Dr. Adesola noted that today’s customer is influenced by the technological advances shaping businesses across various industries and the First Global Transfer (FGT) initiative is one of those advancement created to impact every individual in our host community in Africa, whilst promoting the ease and swift transfer of money from one country to another for business or personal activities.
Intending users of the initiative are to visit any of the Bank’s branches in Nigeria or subsidiaries in Africa, which are: FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone, or FBNBank Senegal to enjoy the service. For example, with First Global Transfer, individuals and customers in Sierra-Leone can walk into any FBNBank branch to send money to FirstBank customers in Nigeria as well as FBNBank customers in Gambia, Ghana, DR Congo, Senegal or Guinea.