FirstBank has successfully integrated the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT app, enabling customers to make instant, secure, and local currency-based cross-border payments across Africa.

PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables instant, low-cost payments in local currencies between African countries.

Speaking on the integration, the Group Executive, e-Business and Retail Products at FirstBank, Chuma Ezirim, said, “The integration of PAPSS into the LIT app is a testament to FirstBank’s commitment to delivering innovative, customer-centric solutions that simplify and enhance financial transactions. This milestone aligns with the Bank’s strategic goal of deepening digital capabilities and expanding access to seamless cross-border payment services across Africa.”

Commenting on this collaboration, Mike Ogbalu, CEO of PAPSS said, “Every time an individual, an SME or a Company sends money instantly within Africa in their own currency, we are not just moving funds, we are connecting ambitions, supporting livelihoods, and bridging dreams across borders. This collaboration with FirstBank and their LIT app brings us a step closer to making African borders invisible to movement of money, so that the continent’s entrepreneurs and families can focus on what matters most: building their future, not battling payment barriers.”

The LIT App, FirstBank’s innovative digital banking platform, offers a wide range of features including virtual cards, scheduled payments, and multiple transfers in one go, designed to meet the dynamic needs of customers. The addition of PAPSS expands its capabilities to support cross-border commerce, especially for individuals and SMEs engaged in pan-African business.

With PAPSS now live on the LIT App, FirstBank is breaking down barriers to payments, trade and financial inclusion across Africa. Customers can now send funds conveniently to other countries in Naira, without needing US dollar, GBP or Euro conversions. This landmark integration enables real-time cross-border payments in local African currencies, reduces transaction costs, and improves settlement efficiency. It also expands access to digital banking services, promotes financial inclusion, supports SMEs and fosters growth under the African Continental Free Trade Area (AfCFTA).

This integration of PAPSS to the LIT app reinforces FirstBank’s leadership in digital banking innovation and supports the African Continental Free Trade Area (AfCFTA) agenda by simplifying intra-African transactions.

First City Monument Bank (FCMB) has reaffirmed its commitment to service excellence and innovation as it joined the global celebration of Customer Service Week 2025, recording strong gains in customer satisfaction and loyalty.
The week-long event, which runs from October 6 to 10, is themed “Mission: Possible” and highlights the bank’s resolve to transform everyday challenges into opportunities through creativity, technology, and teamwork.
Describing the occasion, the bank’s Managing Director, Yemisi Edun said: “At FCMB, every day is an opportunity to provide excellent service. This week, we are proud to celebrate our customers and employees, whose dedication continues to drive our success.”
Executive Director, Corporate Services & Service Management, Felicia Obozuwa, reiterated the bank’s dedication in creating real value through customer experience and innovation.
“In a fast-changing world, we are proud to deliver solutions that truly add value. Customer Service Week is another chance to thank our customers for their loyalty and our employees for their dedication,” Obozuwa said.
As part of the celebrations, FCMB executives, including the Managing Director, took on customer-facing roles across various branches. They engaged directly with clients, listened to their feedback, and presented special gifts to customers. The bank also recognised children with Kiddies’ Accounts and rewarded its top 50 customers for their enduring loyalty and contribution to the bank’s growth.
To further appreciate its wider customer base, the bank rewarded more than 100,000 customers who purchased airtime and data through the FCMB Mobile App and 329# USSD code with a 10 percent bonus during a three-day campaign. In addition, select branches were fitted with refreshment booths to make in-branch visits more pleasant and interactive.
Employees also played a central role in the celebrations. Activities such as peer-to-peer recognition sessions, a Bankers Game Show, and a Theme Song Contest were organised to foster teamwork, celebrate excellence, and strengthen internal culture. The week’s events will culminate in a hybrid staff gathering, connecting employees physically and virtually across the country.
In line with this commitment, FCMB reported significant improvements in its Net Promoter Score (NPS) — a key measure of customer satisfaction and loyalty. The bank’s NPS, the management noted, rose to 74 per cent as of August 2025, surpassing the industry average, while its digital banking NPS also improved from 71 per cent to 75 per cent, reflecting stronger customer confidence in its digital platforms.
Now in its 41st year globally, Customer Service Week celebrates the role of service excellence in driving sustainable business growth. For FCMB, the event underscores its ongoing strategy to blend innovation, empathy, and digital transformation to strengthen relationships with customers, enhance satisfaction, and sustain business performance.

Jaiz Bank Plc has secured an upgrade from GCR Ratings, which raised the Bank’s national scale long-term issuer rating from BBB-(NG) to BBB (NG), with the outlook revised from Positive to Stable.
In a statement announcing the development, the Managing Director and Chief Executive Officer of Jaiz Bank, Dr. Haruna Musa, described the rating upgrade as a significant achievement that reflects the Bank’s financial strength and growing market position.
“We are pleased to announce that GCR Ratings has upgraded Jaiz Bank Plc’s national scale long-term issuer rating from BBB-(NG) to BBB(NG). This milestone reaffirms our focus on deepening financial inclusion, driving innovation, and upholding the principles of ethical, Shariah-compliant banking,” Dr. Musa said.
He explained that the new rating demonstrates confidence in the Bank’s strong financial performance, sound risk management practices, and consistent improvement in balance sheet quality and profitability.
“The recognition consolidates Jaiz Bank’s leadership as Nigeria’s pioneer non-interest bank. We remain committed to creating sustainable value for all stakeholders and contributing to the growth of the Nigerian economy,” he stated.
Dr. Musa also acknowledged the role of the Bank’s Board, management, staff, customers, regulators, and stakeholders, noting that their trust and support were instrumental in achieving the latest milestone.
Jaiz Bank, established in 2012 as Nigeria’s first non-interest bank, has continued to expand its operations across the country, offering Shariah-compliant products and services aimed at promoting financial inclusion.