First Bank Introduces Financial Package For Educational Institutions

Nigeria’s premier and leading financial services provider, First
Bank of Nigeria Limited, has announced its educational solution –
FirstEdu – specifically designed to enhance the educational
facilities in schools. The FirstEdu product includes FirstEdu loan
and FirstEdu portal.

FirstEdu loan is targeted at private Nursery & Primary and
Secondary schools to assist the schools in achieving their desired
growth in the medium and long-term. The product provides funding to
replace old furniture and equipment, pay staff salaries, purchase
brand new or fairly-used buses as well as refurbish dilapidated
buildings and classroom blocks. With this product, school
owners/proprietors can stay ahead of competition at all times.

The product enables the schools to access facility with no
tangible collateral, apart from domiciliation of school fees
account with the Bank.

In addition, FirstEdu portal is a modular and robust web-based
enterprise portal that enables Tertiary educational institutions
manage academic, administrative, professional, logistics and
payment challenges. The basis for its robustness is to take the
stress of logistics, administrative and payment challenges off the
institutions, as they focus on meeting their year-long, medium and
long-term objectives.

The product features and benefits include; e-Learning, virtual
library and facilitation of exchange programmes with foreign
educational institutions; academic & student
events/time-table/calendar management; school fees payment via the
internet; online information and result checking; interactive
community forum between students and teachers. It also affords
applicants the opportunity of enrolling from the comfort of their
homes or any location around the world; no licensing, installation
and maintenance cost and plugs avenues for revenue leakages amongst
others.

According to Chuma Ezirim, Group Executive, e-Business &
Retail Products, First Bank of Nigeria Limited, “with FirstEdu,
private schools across the various tiers of education in Nigeria;
elementary, secondary and tertiary, have the right tool to boost
their business to the level they desire. With over N5 billion loans
already disbursed to schools this year alone, we are committed to
supporting growth in this key sector of our economy.”’

For further information on FirstEdu, visit the FirstBank branch
nearest to you or contact us on our social media channels.

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