FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, has successfully integrated the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT app.

Through this development, customers can now make instant, secure, and local currency-based cross-border payments across Africa with ease.

Driving Seamless Payment Innovation Across Africa

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

Consequently, its integration into the LIT app represents a major leap toward financial connectivity and inclusion across the continent.

Speaking on the integration, the Group Executive, e-Business and Retail Products at FirstBank, Chuma Ezirim, emphasized that “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.”

 

Connecting Ambitions Across Borders

In his remarks, Mike Ogbalu, CEO of PAPSS, highlighted the broader impact of this partnership. He noted that every time an individual, SME, or company sends money instantly within Africa in their local currency, it strengthens economic ties and fosters shared prosperity. According to him, “We are not just moving funds; we are connecting ambitions, supporting livelihoods, and bridging dreams across borders.

collaboration with FirstBank and their LIT app brings us a step closer to making African borders invisible to the movement of money, allowing entrepreneurs and families to focus on building their future, not battling payment barriers.”

Expanding the Capabilities of the LIT App

The LIT app, FirstBank’s innovative digital banking platform, already offers a broad range of features such as virtual cards, scheduled payments, and multiple transfers in one go.

With the addition of PAPSS, the app now extends its functionality to cross-border commerce, especially benefiting individuals and SMEs engaged in pan-African trade.

As a result, customers can now send funds conveniently to other countries in Naira without the need for USD, GBP, or Euro conversions.

This advancement enhances real-time cross-border payments in local African currencies, reduces transaction costs, and improves settlement efficiency. Furthermore, it supports digital inclusion, boosts SME participation, and contributes to economic growth under the African Continental Free Trade Area (AfCFTA).

 

Strengthening Financial Inclusion and Regional Growth

With PAPSS now live on the LIT app, FirstBank is dismantling barriers to payments, trade, and financial access across Africa. The integration reinforces its leadership in digital banking innovation while advancing the AfCFTA agenda by simplifying intra-African transactions.

 

About FirstBank

First Bank of Nigeria Limited (FirstBank), established in 1894, remains the premier bank in West Africa and a top financial inclusion services provider on the continent.

The Bank’s international footprint spans three continents—Africa, Europe, and Asia—with subsidiaries in the Democratic Republic of Congo, Ghana, The Gambia, Guinea, Sierra Leone, Senegal, and representative offices in Paris and Beijing.

Beyond domestic banking, FirstBank’s subsidiaries facilitate international trade and cross-border transactions, strengthening economic links between Africa, Europe, and Asia.

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For over 13 decades, the institution has built a strong reputation for corporate governance, liquidity, and technological advancement.

So, with over 43 million customer accounts across Nigeria, the UK, and sub-Saharan Africa, the Bank operates through more than 820 business offices and over 280,000 agent locations in 772 of Nigeria’s 774 local government areas.

In addition to banking services, FirstBank also provides pension fund custody through First Pension Custodian Nigeria Limited and nominee services via First Nominees Nigeria Limited.

Aside these, the Bank’s commitment to diversity and gender inclusion is reflected in its 41% female workforce and 37% women in management roles, complemented by initiatives such as the FirstBank Women Network and its membership in UN Women.

Over the years, FirstBank has earned numerous accolades, including Nigeria’s Best Bank for ESG 2024, Best SME Bank in Africa 2025, and Best Bank for Empowering Women Entrepreneurs in Nigeria 2025. These recognitions reaffirm its strategic focus on innovation, sustainability, and customer-driven growth.

Anchored on its vision “To be Africa’s Bank of first choice” and mission “To remain true to our name by providing the best financial services possible,” FirstBank continues to drive progress through its core values of Entrepreneurship, Professionalism, Innovation, and Customer-Centricity (EPIC). Its strategic ambition remains to achieve accelerated growth through customer-led innovation and disciplined execution.

Olayinka Ijabiyi
Ag. Group Head, Marketing & Corporate Communications
First Bank of Nigeria Limited

 

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