First City Monument Bank (FCMB) has expanded its flagship women-banking initiative, SheVentures, increasing the pool of interest-free loans available to women-owned and women-led small and medium-scale enterprises (SMEs) from N200 million to N1 billion.
With the expansion, women entrepreneurs across various sectors can now access zero-interest loans of up to N10 million. The facility comes with a moratorium and flexible repayment options, complemented by training and structured mentorship programmes to support long-term business sustainability.
Speaking on the development, FCMB’s Managing Director, Yemisi Edun, said the initiative underscores the bank’s commitment to women’s economic empowerment and inclusive growth.
“Women are at the forefront of enterprise in Nigeria, shaping industries and creating jobs. Yet, many lack affordable access to finance and structured support. By growing the SheVentures pool from N200m to N1bn, we are scaling a model that combines zero-interest finance with training and mentorship. This is how we move from individual success stories to broader economic transformation,” Edun said.
Also commenting, Divisional Head of SME Banking at FCMB, George Ogbonnaya, said the initiative proves that targeted support for women entrepreneurs works.
“SheVentures has shown that when women entrepreneurs are given the right tools finance, skills, and networks they build resilient businesses. More than 300 women have already benefited, and their progress confirms the effectiveness of such interventions. With this N1bn commitment, we are moving to the next phase: widening access and deepening impact,” he said.
Group Head of SheVentures, Nnenna Jacob-Ogogo, explained that the programme provides flexible financing options depending on business needs. Women can access up to N5m for four months with a one-month moratorium, or up to N10m for six months with a one-month moratorium. Beneficiaries also receive mentorship and business management training to help scale their enterprises.
Since its launch in 2019, SheVentures has provided hundreds of women-led SMEs with interest-free loans, capacity-building, and advisory support. By scaling up the loan fund, FCMB hopes to accelerate the growth of women-owned businesses, foster job creation, and strengthen Nigeria’s broader economic resilience.
