FairMoney Microfinance Bank (MFB) has announced that it disbursed more than ₦150 billion in loans over the past year, while paying over ₦7 billion in interest to savings customers, underscoring its growing role in Nigeria’s digital financial ecosystem.
Founded in 2021 as one of Nigeria’s pioneering platforms for instant credit access, FairMoney has rapidly evolved into a CBN-licensed microfinance bank, expanding its offerings beyond lending to include high-interest savings accounts, fixed deposits, current accounts, debit cards, and POS solutions for businesses. The expansion reflects the bank’s broader mission to promote financial inclusion through accessible, user-friendly, and competitively priced financial services.
As a technology-driven institution, FairMoney deploys artificial intelligence and machine learning to analyse a combination of financial and alternative data, including smartphone usage patterns and customer-provided information. This approach enables the creation of proprietary credit scores that allow for fast, collateral-free lending, extending credit access to underserved individuals and small businesses traditionally excluded from formal banking.
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Commenting on the milestone, Henry Obiekea, Managing Director of FairMoney MFB, said the figures highlight the bank’s commitment to empowering Nigerians.
“Our record loan disbursements and savings payouts over the past year are more than just numbers; they reflect our tenacity in supporting Nigeria’s financial ecosystem,” Obiekea said. “We provide essential capital that helps individuals thrive and businesses scale, while our savings products deliver inflation-beating returns that support real wealth preservation. We remain deeply committed to closing the financial gap and empowering our community.”
Operating under the regulatory oversight of the Central Bank of Nigeria (CBN), FairMoney said all customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC). The bank also emphasised its adherence to the Nigeria Data Protection Regulation (NDPR) and the deployment of bank-grade security systems to safeguard customer data and transactions.
The announcement comes against the backdrop of Nigeria’s accelerating shift toward a cashless economy under the CBN’s Payment Systems Vision 2025. By October 2025, electronic payments hit record levels, with instant bank transfers accounting for nearly 70% of all e-payment transactions. FairMoney said it contributed to this growth by enabling large-scale digital loan disbursements and savings interest payments across its platform.
“Our focus throughout 2025 was rooted in fairness, empowerment, and consumer confidence,” Obiekea added. “As we enter 2026, we remain resolute in advancing financial inclusion and supporting the continued growth and resilience of Nigeria’s financial landscape.”
