FCMB Launches N30 Million Clean Energy Loans for Homes, SMEs

First City Monument Bank (FCMB) has launched an enhanced energy finance loan offering up to N30 million to support Nigerian households and small businesses in purchasing clean energy equipment such as solar panels, batteries, and inverters. The loan, which comes with a repayment period of up to three years, aims to ease financial burdens, allowing businesses to allocate more resources toward growth and operations.

This initiative is part of FCMB’s ongoing efforts to promote sustainable energy solutions in Nigeria, aligning with the country’s net-zero goals for 2060. It also addresses the increased energy costs following the removal of the fuel subsidy, reinforcing FCMB’s commitment to climate action and providing reliable power access.

Yemisi Edun, Managing Director of FCMB, highlighted the importance of this move, stating, “This loan gives households and businesses easy access to affordable funding for clean energy solutions, supporting sustainable growth. It also helps offset the rising fuel prices caused by the removal of the fuel subsidy. At FCMB, we’re committed to helping people and businesses succeed while backing the government’s push for a stable and sustainable power supply.”

George Ogbonnaya, Group Head of Business Banking at FCMB, emphasized the impact of the loan on businesses and communities: “At FCMB, we are dedicated to helping businesses thrive. Our new energy finance loan helps businesses and homes access clean energy. It is affordable, accessible through a simple digital process, and designed to support job creation, boost our economy, and promote environmental sustainability.”

FCMB has been a pioneer in advancing renewable energy, having financed various projects such as solar installations, mini-grids, and energy-efficient plants over the past three years. The bank has also provided free training to further development in the sector.

Recently, FCMB was recognised by the Development Bank of Nigeria as the “Best Bank for Impact on MSMEs Accessing Credit for the First Time in Nigeria” and for its “Highest Disbursement to Sustainability Projects.” A member of FCMB Group Plc, FCMB continues to build a sustainable ecosystem that connects people, capital, and markets across Africa. NDLEA Officers Accused of Killing Youth in Plateau Raid