csrreporters 
First Bank of Nigeria Limited (FirstBank), West Africa’s premier bank and a leader in financial inclusion, has successfully integrated the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform, the LIT app. The move enables customers to make instant, secure, and local currency based cross-border payments across Africa.
Developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, PAPSS facilitates low-cost, real-time payments between African countries in local currencies.
Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said, “The integration of PAPSS into the LIT app demonstrates our commitment to delivering innovative, customer-centric solutions that simplify financial transactions across Africa. This milestone deepens our digital capabilities and expands access to seamless cross-border payment services for individuals and SMEs.”
Mike Ogbalu, CEO of PAPSS, added, “Every instant transfer within Africa brings us closer to eliminating payment barriers and supporting livelihoods. This collaboration with FirstBank ensures entrepreneurs and families can focus on building their future, not navigating payment complexities.”
The LIT App, already offering features like virtual cards, scheduled payments, and bulk transfers, now supports cross border commerce, empowering individuals and SMEs engaged in pan-African trade. Customers can send funds in Naira without relying on foreign currencies, reducing transaction costs and improving settlement efficiency.
This integration reinforces FirstBank’s leadership in digital banking innovation and supports the African Continental Free Trade Area (AfCFTA) agenda by simplifying intra-African transactions.
About FirstBank:
Founded in 1894, FirstBank has established a strong presence across Africa, Europe, and Asia, offering comprehensive retail and wholesale banking services. With over 43 million customer accounts and a commitment to financial inclusion, FirstBank continues to champion innovation, sustainability, and customer-centric solutions, making it Africa’s bank of first choice.