FairMoney Microfinance Bank, a CBN-licensed digital financial institution in Nigeria, has surpassed 30 million registered users in the country, marking a major milestone in its drive to make financial services more accessible to Nigerians.
The milestone goes beyond user growth, reflecting the growing number of Nigerians turning to FairMoney for everyday financial needs, including borrowing, saving, money transfers, bill payments, card services and asset financing through its technology-enabled banking platform.
With more than 30 million registered users, FairMoney said its growth demonstrates how technology can help extend formal financial services to more Nigerians, particularly individuals and businesses that may face barriers to traditional banking, such as extensive paperwork, limited access to physical bank branches or a limited formal credit history.
Through the FairMoney app, customers can open and manage accounts, save money, pay bills, make transfers, use cards, access credit where eligible and finance assets directly from their mobile phones. By bringing these services together on one platform, the bank is helping more people participate in the formal financial system while managing their everyday financial needs conveniently.
FairMoney also provides financial services to businesses, supporting merchants and MSMEs with tools designed to help them manage their finances and daily operations. Through FairMoney Business, customers can access business accounts, payment services and other financial solutions tailored to the needs of growing businesses.
The bank’s technology also enables it to deliver services at scale. Alongside its expanding range of banking products, FairMoney processes tens of thousands of loan applications daily through its automated digital platform, allowing eligible customers to access formal credit without extensive paperwork or the need to visit a physical branch.
By combining accessible digital banking services with technology-enabled credit assessment, FairMoney is helping customers save, make payments, respond to financial needs and work towards their personal and business goals. The approach supports the bank’s mission of advancing responsible financial inclusion at scale.
“Surpassing 30 million registered users is an important milestone for FairMoney, but its greatest significance is the trust millions of Nigerians have placed in us to support their everyday financial lives,” said Henry Obiekea, Managing Director of FairMoney Microfinance Bank.
“We are grateful for that trust, and we do not take it for granted. It reinforces our responsibility to continue providing simple, accessible and reliable financial services that help more Nigerians participate in the formal financial system and achieve their financial goals.”
FairMoney operates as a Central Bank of Nigeria (CBN)-licensed microfinance bank and in accordance with applicable regulatory requirements. Eligible customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), while the bank maintains measures to protect customer information and complies with applicable data protection requirements, including the Nigeria Data Protection Act.
“As we enter our next phase, our focus is on deepening the value we provide to both individuals and businesses,” Obiekea added.
“We will continue to invest in technology, strengthen our products and build solutions that respond to how Nigerians save, make payments, access credit, run their businesses and manage their finances. Our ambition is not simply to reach more people, but to become a more valuable financial partner to the customers and businesses we serve.”
With more than 30 million registered users in Nigeria, FairMoney said it remains committed to expanding access to secure, inclusive and innovative financial services while delivering reliable, customer-focused experiences across its growing portfolio of banking products.
