By Prince Osuagwu

In a major boost for financial inclusion in Nigeria, fintech-driven microfinance bank, FairMoney, has disbursed over N150 billion in loans in the past year while paying more than N7 billion in interest to its savings customers.

The Managing Director of FairMoney Microfinance Bank, Henry Obiekea, said the institution, which began operations in 2021 as one of Nigeria’s pioneer rapid-credit platforms, has steadily expanded its services to reach both individuals and businesses across the country.

“Our record loan disbursements and savings payouts over the past year are more than just numbers; they represent our unwavering commitment to supporting the Nigerian financial ecosystem,” Obiekea said.
He added, “At FairMoney, we are driven by the knowledge that our platform provides essential capital for individuals to thrive and for businesses to scale.
“Our savings products offer both retail and business customers inflation-beating returns, ensuring genuine wealth preservation. We remain deeply committed to closing the financial gap and empowering our community.”

FairMoney’s expansion reflects its evolution into a fully licensed microfinance bank offering a comprehensive suite of services, including high-interest savings accounts, fixed-term deposits, current accounts, debit cards, and point-of-sale, POS, solutions for businesses. These products are designed to promote financial inclusion through ease of use and competitive transaction rates.

As a technology-enabled bank, FairMoney leverages advanced artificial intelligence, AI, and machine learning tools to analyse financial and alternative data, including smartphone usage and user-provided information. By creating unique credit scores, the bank enables fast, collateral-free lending to underserved Nigerians, assessing creditworthiness beyond traditional banking criteria.
Operating under the regulatory oversight of the Central Bank of Nigeria, CBN, FairMoney ensures that deposits are insured by the Nigeria Deposit Insurance Corporation, NDIC, and maintains strict compliance with the Nigeria Data Protection Regulation, NDPR.

The bank’s activities in 2025 coincided with Nigeria’s broader digital finance transformation under the CBN’s Payment Systems Vision 2025, which has accelerated the country’s shift towards a cashless economy. By October 2025, instant bank transfers accounted for nearly 70 per cent of all electronic transactions, with FairMoney playing a key role through loan disbursements and interest payments to savers.

“Our efforts in 2025 were defined by an unwavering commitment to financial inclusion and a customer-centric mission rooted in fairness, empowerment, and consumer confidence,” Obiekea said.
“As we move into 2026, we remain resolute in our mission to uphold these values and drive the continued growth and resilience of Nigeria’s financial landscape.”