Nigeria’s financial powerhouse, First Bank of Nigeria has introduced new solutions aimed at support schools and other educational institutions as part of the banks initiative for SME and the development of education in the Nigeria.
In a statement issued by the Bank’s Head of Marketing and Corporate Communications , Funky Ani -Mumuney,the products and solutions are targeted at enabling schools at all levels seamlessly automate their administrative processes and optimise the process for school fees collections whilst also acquiring attractive facilities to support their businesses.
The Educational products and solutions include the FirstEduportal, Skoolpay and the FirstEdu loan . Other packages include the Operational Vehicle loan, commercial mortgage and personal loan against salary which enhances parents/guardians capacities to pay their wards school fees.
The FirstEduportal facilitates online application and admission, result checking, transcript request e learning portals as well as school fees payment and confirmation .
The Skoolpay solution is aimed at educational institutions that do not require a sophisticated system in supporting their collections. It’s allows them to receive payments through First bank branches nationwide. The solution also supports online real time reports of payments which can be updated on the school internal system if required.
The FirstEdu loan is targeted at private Nursery ,Secondary and A Levels schools. It offers opportunities for these schools to access flexible funding to meet urgent cash flows as well as enjoy the opportunity to staying ahead of competition.
It allows proprietors to access up to 10 Million Naira with no collateral apart from domiciliation of the school account with the bank.
Other products on offer include the operational vehicle loan which allow schools and institutions to acquire brand new vehicles for the day to day operations of their businesses.while the personal loan against salary offers customers employees of these schools access to cash to meet immediate needs. The package has a flexible repayment plan that can be spread up to 4 months for customers convenience.
First Bank,’s educational facilities are offered without collaterals and are available at all First Bank branches across the Country.