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How FirstBank Is Enabling Nigerians Receive Money From Abroad



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Receiving money from loved ones abroad can bring such joy that only a few other joys can rival. Those who have never known this joy know not what they are missing, but they need not continue to miss out on it completely. There is an ample opportunity for them to experience it, especially in this new year, even if only experiencing the joy vicariously.

There are over 750 branches of First Bank of Nigeria Limited across the country where people go to receive money sent by loved ones abroad. With the network of its branches across the nooks and crannies of the country, receiving money from abroad is refreshingly exciting at every visit to the branch due to its timely services, the closeness of a FirstBank branch to Nigerians, averting challenges resulting from needless travel times, traffic and the risks of being trailed from a stretched journey. People struggle to hide their joy when they receive money their loved ones abroad have sent to them.

It is not clear exactly why receiving money from loved ones abroad causes such ecstasy. Is it the money itself or the many things and reasons for which the money was sent, or a combination of both? The answer, if ever there was an exact one, would probably depend on the individual recipient and their individual circumstances.


What is not in doubt, however, and which a doctor’s stethoscope should be able to confirm, if the expensive medical instrument can also measure feelings, is the invariable presence of ecstasy in the recipient’s heart. Not to mention the soothing and therapeutic effect that ecstasy can have on the recipient’s whole being.

Like what recipients of money from abroad must have felt in FirstBank banking halls from Monday, 8 March 2021 when the bank, in line with the Central Bank of Nigeria’s “Naira 4 Dollar scheme” that was introduced to promote diaspora remittances into the country, began rewarding customers with N5.00 for every dollar received through foreign remittances. It translated to a N50,000.00 reward for a customer who received $10,000.00, for example. And the Naira incentive was paid to such customers whether they preferred to collect the dollar as cash across the counter in any of the bank’s branches nationwide or wanted it transferred into their domiciliary accounts.

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For those only looking forward to a vicarious experience of such ecstasy, especially if that is all they have access to during this new year, they should know it is still a good thrill, compared with no thrill or experience at all – whether vicarious or otherwise. But there is something better they should aim for, given that their loved ones abroad should be more predisposed to giving during this new year. It is called actual experience.


Right inside a FirstBank branch this season they can have actual experience of that joy that accompanies receiving money from loved ones abroad. They should waste no time in letting their loved ones abroad know that FirstBank has addressed many of the excuses they had previously advanced for not sending money to Nigeria by providing more than enough options and platforms for them to “do new Year” for their Nigeria-based people through any FirstBank branch.

If your loved ones abroad argue that in recent times the Central Bank has restricted a number of players in the money transfer space, such as payment service banks (PSBs), mobile money operators (MMOs), among others, let them know that you are not unaware of the numerous options that the CBN has not restricted. And you can go ahead in confidence and educate them about the many options that are available from FirstBank.

Your loved ones abroad can choose to use the services of CBN-licensed international money transfer operators (IMTOs) such as Western Union and MoneyGram from almost any part of the world to send you ‘new year dollars’ to be received excitedly in any FirstBank branch this season. If they ask what else there is, you can add to the list Ria, WorldRemit, TransFast and AWS Malta – all available in FirstBank. There are also Wari, Smallworld, Sendwave, Flutterwave, Funtech, Thunes and Venture Garden Group among the IMTOs that FirstBank is in partnership with.


These growing partnerships are not just exciting for recipients of money from loved ones abroad but also the Deputy Managing Director of FirstBank, Mr Gbenga Shobo as he considers them “essential to ensure FirstBank customers are at an advantage to receive money from their loved ones and business associates, anywhere they are, across the world.”

He underlined the bank’s resolve in promoting diaspora remittances, by “expanding its network of international money transfer operators…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.”

How FirstBank is enabling Nigerians receive money from abroad

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