FirstBank Partners UNIBEN to Expand Digital Banking Services

First Bank of Nigeria Limited (FirstBank) has announced a strategic partnership with the University of Benin (UNIBEN) to enhance digital banking services and financial inclusion for students and staff. The collaboration is aimed at providing seamless, cashless banking solutions, improving financial literacy, and encouraging the adoption of modern digital financial tools within the university community.

Under the partnership, FirstBank plans to integrate its digital platforms with UNIBEN’s administrative and student service systems, allowing users to perform banking transactions, pay tuition fees, and access other financial services through mobile applications and online portals. The initiative also includes the deployment of dedicated point-of-sale (POS) terminals across the campus to facilitate cashless transactions for services and purchases.

Speaking at the formal launch ceremony on campus, the Group Head, Digital Banking, FirstBank, highlighted that the collaboration is part of the bank’s broader strategy to drive financial inclusion and improve access to banking services in higher education institutions across Nigeria. He noted that students, lecturers, and administrative staff will benefit from faster, more secure, and convenient banking solutions.

The University’s Vice-Chancellor welcomed the partnership, emphasizing that the integration of digital banking services into campus operations aligns with the institution’s goal of leveraging technology to enhance efficiency and convenience for the university community. He expressed optimism that the initiative would foster financial discipline among students and reduce dependency on cash transactions, which have traditionally posed operational challenges.

FirstBank’s digital banking initiative at UNIBEN is expected to empower students with financial literacy programs, workshops, and seminars that teach responsible money management, budgeting, and the use of digital financial tools. This is particularly important given the growing adoption of online learning platforms, e-payments, and campus digital services that require students to be financially literate and digitally adept.

The partnership also aligns with Nigeria’s broader cashless policy, which encourages the adoption of electronic payments to reduce reliance on physical cash, improve transaction efficiency, and curb financial fraud. FirstBank aims to use UNIBEN as a pilot model for similar collaborations with other universities nationwide.

Industry analysts view the partnership as a win-win for both the bank and the university. For FirstBank, it presents an opportunity to increase digital banking penetration among young Nigerians, a demographic that is increasingly tech-savvy and inclined to adopt mobile and online financial services. For the university, the collaboration enhances operational efficiency, reduces cash handling risks, and provides students with tools to manage personal finances effectively.

The program will feature dedicated customer support channels, including virtual assistants and campus-based representatives, to guide students and staff on using the bank’s digital services. In addition, FirstBank will offer incentives such as zero fees on certain digital transactions, instant fund transfers, and student-targeted financial products to encourage adoption.

Moreover, the partnership seeks to promote entrepreneurial development among students. By providing access to digital banking tools, POS systems, and cashless solutions, students engaged in campus businesses or small enterprises can streamline operations, accept digital payments, and better manage business finances.

Financial inclusion experts have praised FirstBank’s initiative, noting that digital banking access in higher education institutions is a critical step toward fostering a financially empowered youth population. They argue that early exposure to digital banking solutions not only facilitates convenience but also prepares students for a cashless economy post-graduation.

This collaboration reflects a growing trend in Nigeria where banks are increasingly partnering with educational institutions to introduce financial technologies, support digital payments infrastructure, and enhance students’ financial literacy. By embedding digital banking into the daily lives of students and staff, FirstBank is positioning itself as a leader in campus financial solutions.

In conclusion, the FirstBank–UNIBEN partnership represents a significant milestone in Nigeria’s drive toward digital financial inclusion, cashless transactions, and financial literacy education. By leveraging technology and innovative banking solutions, the initiative promises to improve convenience, enhance operational efficiency, and equip students with vital financial management skills. The success of this collaboration could serve as a model for other universities seeking to integrate digital banking services into campus life, ultimately contributing to a more financially empowered and technologically adept generation.