FirstBank, Pointek launch credit scheme for phones, laptops, appliances

FirstBank has partnered with technology retailer Pointek to let Nigerians buy smartphones, laptops and household appliances on credit through a Buy-Now-Pay-Later scheme. Eligible customers will use FirstEase, FirstBank’s digital lending platform, and repay over three to six months instead of paying the full cost upfront.

FirstBank’s Head of Personal Banking, Chukwuka Okonkwo, said customers must contribute 30% of the purchase price to access the facility. He spoke at the partnership launch.

How the scheme works

Customers can choose eligible products including smartphones, laptops, refrigerators and other household appliances through Pointek’s retail network. They then access financing through FirstEase. FirstBank pays Pointek for eligible purchases, while customers repay the bank in instalments over an agreed three to six months.

Okonkwo said customers with good repayment records may qualify for higher financing limits on subsequent purchases. He said the initiative represents a shift in the bank’s retail lending strategy towards financing specific products rather than providing conventional cash loans.

Bank, retailer frame convenience

FirstBank’s Group Head, E-Business and Retail Products, Abednego Ugwueke, said the partnership was designed to make consumer financing more convenient by incorporating it into the purchasing process. He explained that eligible customers could access financing while shopping through Pointek rather than completing a separate loan application before selecting a product. Ugwueke added that customers would receive information about eligibility requirements and repayment terms to help them make informed borrowing decisions.

The bank said the initiative is part of its broader strategy to use technology and partnerships to improve access to financial services. Pointek’s Director of Business, Godwin Ajala, said digital devices had become essential for banking, education, business development, communication and access to information. He noted that traders rely on smartphones to receive digital payments and reach customers, while students and professionals use devices to access learning resources and take part in online activities.

Ajala said the partnership combines Pointek’s retail network and technology products with FirstBank’s financing capabilities to reduce the immediate financial burden of acquiring devices. Okonkwo said Pointek operates 24 outlets across Nigeria, providing a retail network through which customers can explore eligible purchases.

Federal device credit scheme also open

The federal government has outlined the application process for Nigerians seeking affordable financing to buy laptops, smartphones, tablets and other digital devices under the Credit for Laptops, Internet, Connectivity, and Knowledge Digital Devices (C.L.I.C.K.D.) Programme. The initiative, launched through the Nigerian Consumer Credit Corporation (CREDICORP), is designed to improve access to digital devices by providing consumer credit to eligible Nigerians. Applicants are required to complete an online registration form before they can be considered for the scheme.

For consumers and businesses, the FirstBank and Pointek scheme lowers the upfront cash needed to acquire devices that are increasingly required for payments, sales and online work. The 30% equity contribution and repayment window of three to six months will determine how affordable it is for the customers it targets.