First Bank Launches Dollar Fund to Empower Women

First Bank of Nigeria has launched the First Women Network Dollar Fund, a strategic initiative designed to help women diversify their earnings and strengthen their financial security. The fund, unveiled as part of the bank’s activities for the 2025 International Women’s Day (IWD), underscores First Bank’s commitment to fostering women’s economic empowerment.

Speaking at the First Bank IWD event, the bank’s managing director and chief executive, Mr Segun Alebiosu, stressed the critical role of women in driving economic growth.

Represented by the bank’s executive director, Retail Banking, Mr Seyi Oyefeso, he explained that the newly introduced dollar fund would allow women to invest in USD with as little as $100 at competitive interest rates.

According to him, the initiative builds on the success of the First Women Network Naira Fund, launched in 2022, which enabled women to grow their investments in local currency. The new dollar fund, he noted, expands financial options for women by allowing them to convert naira to USD for investment purposes, creating a steady stream of income and strengthening their long-term financial stability.

“This fund provides women with a secure and rewarding avenue to invest in foreign currency, offering them the flexibility to build wealth and achieve financial independence,” Alebiosu stated.

Chairperson of the First Women Network and group executive director, Corporate Banking at First Bank, Mrs Olaitan Martins, underscored the need for women to step into leadership roles, drive innovation, and shape the future of finance. Speaking on the 2025 IWD theme, Accelerate Action, she described it as a call to urgency, challenging women to take bold steps toward self-accomplishment, economic empowerment, and leadership representation.

“As a woman in banking, I have witnessed firsthand how financial institutions shape communities and opportunities. Yet, for decades, women have had to fight for their rightful place in boardrooms. The goal is not just representation but creating pathways for more women to thrive in leadership roles, drive innovation, and influence financial policies,” Martins said.

She emphasised the collective responsibility to champion gender equality, stating that every decision, opportunity, and barrier broken contributes to the larger movement towards economic inclusion. She added that empowering women is not just about fairness but about strengthening economies, building resilient communities, and fostering sustainable development.

“The time for action is now. We must move forward with purpose, passion, and unwavering determination. Together, we must continue to break barriers, amplify voices, and pave the way for a more inclusive and equitable future,” Martins concluded.