First City Monument Bank (FCMB) has announced a major expansion of its flagship women-banking initiative, SheVentures, raising the pool of interest-free loans available to women-owned and women-led small and medium enterprises (SMEs) from ₦200 million to ₦1 billion.
With the increase, female entrepreneurs across different sectors can now access zero-interest loans of up to ₦10 million, with flexible repayment terms and moratoriums. The loan offering is complemented by structured mentorship and training programmes designed to ensure long-term business sustainability.
Driving Women’s Economic Empowerment
Speaking on the development, FCMB’s Managing Director, Yemisi Edun, said the initiative reinforces the bank’s commitment to inclusive growth and women’s empowerment.
“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 ₦200 million to ₦1 billion, 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.
Divisional Head of SME Banking at FCMB, George Ogbonnaya, added that the expansion proves the effectiveness of targeted financial interventions.
“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 impact of such initiatives. With this ₦1 billion commitment, we are widening access and deepening impact,” he said.
Loan Structure and Support Services
According to Group Head of SheVentures, Nnenna Jacob-Ogogo, the loans are structured to suit different business needs. Beneficiaries can access up to ₦5 million for four months with a one-month moratorium, or ₦10 million for six months with a one-month moratorium.
She explained that beyond financing, participants also receive capacity-building support, mentorship, and advisory services to strengthen their enterprises.
Impact Since 2019
Since its launch in 2019, SheVentures has supported hundreds of women-led SMEs through zero-interest loans, mentorship, and training. By scaling the loan fund to ₦1 billion, FCMB aims to accelerate the growth of women-owned businesses, drive job creation, and boost Nigeria’s economic resilience.
