First Bank increases IMTOs to allow customers receive money with ease

First Bank of Nigeria says it has increase its network of International Money Transfer Operators (IMTOs) towards easing customers access to receive money from close to 100 countries.
The Deputy Managing Director, First Bank, Mr Gbenga Shobo, said on Sunday in Lagos that this was in furtherance of the need to expand diaspora remittance inflow into the country in a safe and secured manner.
He added that with over 750 branches across the country, customers could receive money from the nearest FirstBank branch close to them.
He explained that over the years, FirstBank had been in partnership with Western Union, MoneyGram, Ria, Transfast, and WorldRemit.
It stated further that it has also be in partnership with other IMTOs, such as Wari, Smallworld, Sendwave, Flutherwave, Funtech, Thunes and Venture Garden Group to promote remittance inflow into the country.
Shobo added that beneficiaries would be able to receive remittance in US dollars in any of the Bank’s branches.
Also, customers without an existing domiciliary account could have dollar account automatically created for their remittances and can also receive inflow directly into their accounts through Western Union.
“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.
“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 pioneered international funds transfer and remittances over 25 years ago and has been at the forefront of promoting cross border payments in the country, having started the journey with Western Union Money Transfer,” Shobo said in the statement.
He also added that FirstBank had 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.