Business

FirstBank rewards customers with extra N5 for dollar

First Bank of Nigeria Limited has announced that it is rewarding customers with N5 for every dollar received through foreign remittances. According to a press release, the N5 for a dollar incentive is paid to FirstBank’s customers regardless of their preference to collect the USD as cash across the counter in any of the bank’s over 750 branches nationwide or as transfer into the customers domiciliary accounts. “The reward to customers is in line with the Central Bank of Nigeria’s ‘Naira 4 Dollar scheme,’ driven to promote Diaspora remittances into the country.

For example, a customer that receives 10,000 USD, gets N50,000.00 as reward. The scheme runs from Monday, March 8, to Saturday, May 8, 2021,” the statement said. Speaking on the initiative, FirstBank’s CEO, Dr. Adesola Adeduntan, said: “At FirstBank, we are pleased to participate in the CBN’s ‘Naira 4 Dollar scheme’ as it will contribute to deepening financial inclusion in Nigeria. Indeed, it’s an activity we are pleased to lead, whilst promoting access to funds across the nooks and crannies of the country in almost 127 years of our existence.

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