First City Monument Bank (FCMB) has significantly boosted its flagship women-focused initiative, SheVentures, raising the pool of interest-free loans for women-led small and medium enterprises (SMEs) from N200 million to an impressive N1 billion.
The expanded scheme gives women entrepreneurs across diverse industries access to zero-interest loans of up to N10 million, supported by a moratorium and flexible repayment structures. Beyond financing, SheVentures offers structured mentorship and tailored training programmes designed to strengthen long-term enterprise growth and sustainability.
Commenting on the milestone, FCMB’s Managing Director, Yemisi Edun, reaffirmed the bank’s dedication to advancing gender-inclusive finance.
“Women are trailblazers in Nigeria’s business landscape, driving innovation and creating jobs. Yet, many face barriers to affordable funding and structured support. By scaling the SheVentures pool from N200m to N1bn, we are amplifying a proven model that blends zero-interest finance with training and mentorship. This is how we drive inclusive growth, moving beyond individual wins to transformative impact,” Edun said.
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Adding to this, George Ogbonnaya, Divisional Head of SME Banking at FCMB, highlighted the success of the initiative so far.
“SheVentures has consistently demonstrated that when women entrepreneurs are equipped with access to finance, knowledge, and networks, they build resilient and scalable businesses. Over 300 women have already benefitted, and their growth validates the approach. With this N1bn commitment, we are expanding access and unlocking deeper impact,” Ogbonnaya explained.
Further detailing the loan structure, Nnenna Jacob-Ogogo, Group Head of SheVentures, noted that beneficiaries can access up to N5m for four months with a one-month moratorium, or up to N10m for six months with the same moratorium. Each loan is complemented by mentorship and business management support to ensure sustainable enterprise growth.
Since its inception in 2019, SheVentures has supported hundreds of women-owned SMEs with interest-free loans, advisory services, and capacity-building opportunities. With the expanded loan fund, FCMB aims to accelerate women’s entrepreneurial journeys, catalyse job creation, and bolster Nigeria’s wider economic resilience.
