FirstBank, Pointek Ease Gadget Purchases with Credit Scheme

By BUKOLA ARO-LAMBO and SAMUEL TYOTSUA, Lagos

FirstBank of Nigeria Limited has partnered technology retailer Pointek to enable eligible customers to purchase smartphones, laptops, AirPods and household appliances on credit, with repayment spread over three or six months.

The arrangement requires customers to pay 30 per cent of the purchase price upfront, while FirstBank finances the remaining 70 per cent and pays Pointek directly. The partnership integrates FirstBank’s FirstEase digital lending product into Pointek’s retail channels, allowing customers to access financing at the point of purchase.

FirstBank’s Group Head, E&RP, Abednego Ugwueke, speaking at a press conference to launch the initiative was designed to address the difficulty consumers face in purchasing technology devices because of their high upfront costs.

“We live in an age where there is abundance of information online, and people need devices that are intelligent to access information. With that comes the requirement for more memory, more speed of those devices, and that also translates to cost. So it becomes increasingly difficult for people to be able to cough out what is required to buy a device at once, and that is what this product is designed to solve for,” he said.

To access the facility, he said customers can select the FirstEase icon on FirstBank’s mobile application or Pointek’s app, choose their preferred product and pay the 30 per cent commitment fee. FirstBank then settles the balance with Pointek, which processes the order and can deliver the product the following day.

Head of Personal Banking at FirstBank, Chukwuka Okonkwo, said applicants would be assessed using their account transaction histories and the bank’s algorithmic lending system to determine eligibility and available credit limits.

He added that the facility targets salary earners, professionals, entrepreneurs and other individuals seeking to acquire products without disrupting their financial stability.

Pointek’s group head of Human Resources and Administration, Bolanle Onime, said customers using FirstEase would pay the same product prices as those purchasing outright. She added that product availability would depend on market supply and manufacturers’ stock.

However, the total cost of buying on credit will depend on the applicable financing charges and any additional fees, details consumers would need to establish before committing to the repayment plan.

Ugwueke said the partnership reflected FirstBank’s commitment, built over more than 132 years, to innovation, technology adoption and expanding access to financial services through strategic partnerships.

He said the bank aimed to help workers, business owners and students obtain devices needed for personal and commercial activities through responsible financing.

The partnership also expands FirstBank’s digital lending operations, complementing existing products such as FirstAdvance, FirstCredit and Agent Credit, which provide financing to individuals and businesses, including participants in the agency banking sector.

Pointek’s Director of Business, Dr Godwin Ajala, said the agreement aligned with the company’s goal of helping Nigerians use technology to improve their livelihoods and participate in the digital economy.

“Pointek brings technology closer to customers, while FirstBank provides a financing pathway that can help eligible customers overcome the barrier of paying the full cost upfront,” he said.

Ajala noted that access to smartphones and other digital devices could support participation in online banking, education and commercial activities. However, he acknowledged that device ownership alone would not guarantee improved economic outcomes without reliable connectivity and digital skills.