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How FirstBank is helping salary account holders to dream big

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FirstBank - Reaping the Benefits of a Solid Legacy

How FirstBank is helping salary account holders to dream big.

 

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Loans are meant to provide individuals or organizations with additional money to cover their expenses and other obligations—It is then paid back over an agreed period of time, with interest. Personal loans and salary advance loans are the most popular offerings. While the former is an instant loan given to individuals following verification, the latter is usually extended to salaried professionals. But even though personal loans tend to cost less because they have longer-term lengths, there are still a few factors to consider before deciding what option works best for you.

 

 

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How FirstBank is helping salary account holders to dream big.

 

 

According to a report by Bankrate, some of the top reasons why people get personal loans include emergencies, relocation purposes, debt reconciliation, payday loans, and other celebratory costs. Depending on why you’re taking a loan, it’s important to decide the amount based on whether you have a monthly budget for principal payments plus interest. If it’s an emergency you need money for, a salary advance loan may favor you better than payday loans because it is quicker and doesn’t involve middlemen. Nonetheless, personal loans are a very good option when it comes to vehicle financing or acquiring new gadgets. This is because, in the long run, taking out a loan means you can still build a savings portfolio for rainy days.

 

 

 

 

 

 

 

 

 

 

With rising inflation figures in countries like Nigeria (15.63%), salary earners are in fact heavily affected. Despite a steady flow of income, they face difficulties in meeting certain obligations or recurring bills. Sadly, the reality is that most Nigerians would rather borrow from friends and family than take a loan. This is largely because of high-interest rates, an inability to meet certain requirements, and the fear of harassment from digital lenders who use shame tactics to recover loans.

 

 

 

 

 

 

 

 

 

 

 

 

 

In order to bridge this gap, Nigeria’s foremost financial institution, First Bank of Nigeria Limited (FirstBank) offers its customers better and simpler alternatives through a variety of loan products. The bank is also creating opportunities for millions of salary earners to dream big by harnessing the full potential of their accounts.
Here’s a breakdown of its loan plans
FirstAdvance, as the name implies, helps you attend to financial obligations that may come up before salaries are paid. This plan offers a maximum amount of ₦500,000, depending on the average of the applicant’s salary over the course of 3 months. However, customers are required to have an active salary account domiciled with First Bank, with proof of regular salary payment. The cash loans for payroll customers have an interest rate set at 2.5% flat, collected upfront, and can be accessed via the bank’s FirstMobile app, and by dialing *894*11# or *894#.
FirstCredit is the most flexible plan which allows you to access quick and simple loans without any collateral or documentation. Customers can apply for loans as high as ₦300,000 using a mobile phone or tablet. But there’s a catch. The account must have been operational in First Bank for at least 6 months, alongside a good credit record. FirstCredit has an interest rate of 10% flat. Here’s how it works in a few easy steps:

 

 

 

 

 

 

 

 

 

Dial *894#

Select Loans

Select FirstCredit

Select Get New Loan#

Select the account number with which you want to apply for the loan

Grant data usage consent and accept terms and conditions

You will be presented with 4 loan amount options

 

 

 

 

Choose your desired loan amount

The loan is disbursed into your account

FirstBank’s Personal Loan Against Salary (PLAS) is an upgrade to its First Advance offering. In addition to providing the funds to cater to pressing issues that may arise, this plan allows customers to hit their other long-term targets and goals. For instance, capital projects, rent obligations, vacations, professional courses, and other fulfilling ventures. According to the bank, with PLAS, Nigerian salary earners can be assured of a funding partner to fulfill their dreams. Using this plan, salary account holders can access up to ₦30 million and pay back the loan over a period of up to 36 months, subject to a retirement age of 60 years and a flexible repayment plan. To apply you will need the following documents:

 

 

 

 

 

 

 

 

 

 

Application letter

Personal Loan Application form

Payslip

Statement of accounts

Applicant’s letter of total emolument

Confirmation of applicant’s employer on FBN’s approved list

Letter of irrevocable domiciliation of salary for the duration of the facility.

Complete the form and submit it at the nearest First Bank branch.

 

 

 

 

 

 

 

 

FirstBank is heavily invested in easing the pressure on customers when meeting their immediate and medium-term financial goals. The vision behind its salary advance loan (FirstAdvance) is to ensure that customers aren’t being charged high-interest rates or forced to submit more collateral. Its PLAS plan offers flexibility, and good interest rates, and helps to boost the customer’s credit score. It also doesn’t require as much paperwork since the process is carried out online.

 

 

 

 

 

 

 

 

The bank additionally boasts of strategic services and incentives targeted at giving customers the best experience. For instance, its salary account benefits include a zero opening balance and no minimum daily operating balance or AMC charge. Customers also get their first Verve or Mastercard issuance for free with unlimited access to consumer loans.

 

 

 

Culled from Tech Cabal

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Business

Dangote crashes Diesel price to N1,000 per litre

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Dangote reacts to EFCC’s visit to its Headquarters

Dangote crashes Diesel price to N1,000 per litre

 

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In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.

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While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

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This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

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Coalition of Civil Society for Good Governance, Others Are Purveyors of falsehood Says AAS Legal Team As Jesam Micheal Exposes Their Sponsors (Video)

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Coalition of Civil Society for Good Governance, Others Are Purveyors of falsehood Says AAS Legal Team As Jesam Micheal Exposes Their Sponsors (Video)

 

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The lawyers of Afriq Arbitrage System, Barr. Obeten and Barr. Henry have called out the Coalition of Civil Society for Good Governance led by Comrade Okpanachi Jacob as Purveyors of falsehood.

 

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This is not unconnected to their ungodly collaboration with individuals like Prince Humble Eteng, Michael Okoh, Okoi Daniels, Engineer Awajioma who have been slammed with a ten million dollar Lawsuit for nefarious activities to injure the longstanding reputation the organisation has maintained on charges bothering on cyber bullying, attempt to life and property, lies and unlawful incitement and instigation against the CEO of the company , Jesam Micheal, his family and organisation.

 

In a global conference on Tuesday, April 16th, 2024, the legal representatives described their actions as inappropriate, unfounded and a campaign of calumny to malign the integrity of the organisation and management.

 

 

According to Barr. Obeten the matter is in court and the security agencies have picked Abayomi Olusesan who has admitted to committing the heinous crime of stealing investors funds to the tune of $87m. So why accuse the CEO, Jesam Micheal of defrauding the company of the said amount?

 

Speaking further, Barr Henry reiterated their stand to take legal actions against the group for being biassed despite knowing the truth and for misleading the general public by allowing themselves to be used by agents of falsehood.

 

In conclusion, the CEO of Afriq Arbitrage System, Jesam Micheal wondered why a reputable group like CCSGG could be used by Prince Humble Eteng, Michael Okoh and others. He showcased the official court documents which confirmed that Abayomi admitted stealing the investors fund to the tune of $87m which he said was also captured in video evidence. He revealed that some of the properties he bought with part of the money has been collected, remaining the main money which he promised to return to the company. However, after being granted bail, he reneged on his promises and was picked up again by the relevant authorities.

Sadly, his cohorts, Prince Humble who is not even an investors connived with MICHEAL OKOH, PRINCE HUMBLE ETENG,OKOI DENOCK, TOCHUKWU NWOYE, DINGCHI YARLING, Engineer Awajioma and Others to fabricate all sorts of lies against Jesam and AAS.

 

” We will not take the laws into our hands but they should be ready to face the wrath of the law of the land. These are the same people who dragged us to the security agencies and when we got there with facts they ran away and became fugitives, Out of frustrations, they devised a kangaroo world press conference to disseminate all manners of fabricated lies and deceits”

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Afriq Arbitrage System Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

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Jesam Micheal, the Rise of the Moon Among Stars, A Game Changer By Femi Oyewale 

Afriq Arbitrage System Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

 

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The board of directors of Afriq Arbitrage Systems after an emergency meeting condemned in strong terms the attitudes of Prince Humble Eteng, Michael Okoh, Okoi Daniels, Engineer Awajioma and others about their nefarious activities to injure the longstanding reputation the organisation has maintained and in a final resolution, resolved that the above parties be sued for defamation and has slammed a ten million dollar lawsuit with a suit number w/2011/2024 against them at the High court of the Federal capital territory in the Abuja judicial division on Monday, April 15th, 2024 on charges bothering on cyber bullying, attempt to life and property, lies and unlawful incitement and instigation against the CEO of the company , Jesam Micheal, his family and organisation.

 

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In the lawsuit through the legal representation of Jesam Michael and AAS by Barrister Ovat the service required the defendants to appear In court within 14 days, else judgement will be issued against them in absentia.

 

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It would be recalled that few days after series of cyber bullying against the CEO of Afriq Arbitrage System, Jesam Micheal and his Family by MICHEAL OKOH, PRINCE HUMBLE ETENG,OKOI DENOCK in collaboration with one TOCHUKWU NWOYE, DINGCHI YARLING, Godwin, Benjamin Uwanga and Findins, Jesam escaped assassination attempt as gunmen numbering over ten, armed with sophisticated weapons invaded his lounge in Lagos seeking for him.

 

Afriq Arbiritage System, Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

 

Information available to us revealed that when the hardened criminals invaded the lounge on Friday, April 5th, 2024 where Jesam was billed to address his workers, they were demanding for him and when they learnt he couldn’t make the meeting as expected, they descended on the staff and customers threatening to kill them in his stead. They also went away with the company’s properties such as laptops, equipment and gadgets of staffers and customers.

 

Micheal Okoh who has been ranting on Social media against the CEO of Afriq Arbiritage System has been exposed along with Prince Humble Eteng, Okoi Denock as partners in crime with Abayomi oluwasesan who is in prison for defrauding the financial platform to the tune of $87 million dollars

 

According to reports, Micheal Okoh is an investor in AAS who has benefited from the scheme and has withdrawn over three thousand dollars which he never disclosed to his gullible followers until the evidence was uncovered and exposed to the community.

 

Aside from that, information revealed that Micheal Okoh, Prince Humble And Okoi Denock have been working in tandem with Abayomi in plotting the loot from AAS and threatening the life of Jesam Michael and his family. In a series of life threatening messages the plotters swear to eliminate him and his family for standing on the path of truth, justice and for arresting Abayomi in recovering the loot. Also, these revelations are not unconnected to the fact that these people engineered Abayomi not to return investors money back to the community.

 

However, the long arm of the law will soon reach them as Abayomi who has willingly confessed to the heinous crime he committed to the company is arrested and taken to court where he is Remanded and Micheal Okoh and his cohorts we learnt are also on the radar of the security operatives for collaboration and cyber bullying.

 

 

 

Sadly, the threat to life of the CEO and his family by these people should not be taken lightly as just as Mr Micheal Okoh said in his video that he will bring him down, same day, gunmen were sent to invade AAS lounge on the same day he was to address his workers for the year.

 

 

According to the security officer of the company, the ugly incident has never happened before on any of their investments until this brazen threats from Mr Okoh and others.

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