FirstBank Chief Executive Officer, Olusegun Alebiosu, has emphasised the vital role, financial inclusion plays in poverty eradication.
Mr Alebiosu in an interview with Arise TV, at the 79th United Nations General Assembly (UNGA) in New York, identified poverty, alongside climate change and gender inequality, as critical global challenges demanding urgent attention from international leaders.
He noted that the key to lifting people out of poverty lies in expanding access to finance.
“The easiest way to get out of poverty is access to finance,” he asserted, stressing that financial resources are crucial to solving many of today’s social issues.
He further highlighted the importance of innovative and sustainable financing models, noting the significance of human resource development in bridging the economic gap between developed and developing nations.
During discussions at the UN Global Compact Leaders’ Summit, Alebiosu underscored the impact of FirstBank’s financial inclusion initiatives, which have made significant strides in empowering underserved populations, especially women.
FirstBank’s Firstmonie agents network now exceeds 232,000, with over 55,000 women providing essential financial services within their communities.
In 2023 alone, FirstBank extended over N36 billion in loans to women, as part of its commitment to gender equality and poverty reduction.
Alebiosu reiterated FirstBank’s dedication to being a leading force in economic development across Nigeria and Africa, stating, “FirstBank will further entrench itself in society, becoming a cornerstone of economic growth and prosperity.”
The UN Global Compact Leaders’ Summit, held annually, brings together global business leaders, UN officials, and other stakeholders to explore solutions for achieving sustainable development, with a focus on advancing the 2030 Agenda.
This year’s summit took place in New York on September 24, 2024.
