FairMoney Microfinance Bank disbursed over N150bn in loans in the past year.
This was announced in a statement on Tuesday, indicating that the microfinance bank also recorded a total interest payout on savings exceeding N7bn.
The PUNCH reports that the Managing Director of FairMoney Microfinance Bank, Henry Obiekea, recently called for what he described as structural harmony between banks and fintechs to deepen financial inclusion and drive the Federal Government’s $1tn economic ambition.
In the fresh statement, FairMoney Microfinance Bank, which began operations in 2021 as one of the country’s pioneer platforms for rapid credit access, said it leveraged advanced tools, including AI and machine learning algorithms, to analyse extensive financial and alternative data from smartphone usage and user-provided information to aid its loan disbursement process.
By creating unique credit scores to assess risk, FairMoney enables fast, collateral-free lending to underserved segments, ensuring creditworthiness is evaluated beyond traditional banking criteria.
“Our record loan disbursements and savings payouts over the past year are more than just numbers; they represent our unwavering tenacity in supporting the Nigerian financial ecosystem,” said Obiekea. “At FairMoney, we are driven by the knowledge that our platform provides the essential capital for individuals to thrive and for businesses to scale. Our savings products provide both retail and business customers with inflation-beating returns, ensuring genuine wealth preservation. We remain deeply committed to closing the financial gap and empowering our community.”
The firm also pointed out that throughout 2025, the Nigerian financial ecosystem operated under the strategic framework of the CBN’s “Payment Systems Vision 2025,” successfully transitioning the nation toward a more inclusive, stable, and cashless economy.
“Our efforts in 2025 were defined by an unwavering commitment to financial inclusivity and a customer-centric mission rooted in fairness, empowerment, and consumer confidence,” stated Obiekea. “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.”
From being a digital lender, FairMoney has scaled its operations, evolving into a full-fledged licensed microfinance bank. It offers a comprehensive suite of services, including high-interest savings accounts, fixed-term deposits, current accounts, debit cards, and Point of Sale solutions for businesses, all aimed at fostering financial inclusion through ease of use and competitive transaction rates.
