FairMoney Microfinance Bank, a Central Bank of Nigeria-licensed digital lender, says it has surpassed 30 million registered users in the country.
The company, which offers loans, savings, transfers, bill payments, cards and asset financing through its platform, said the milestone reflects growing adoption of digital financial services among Nigerians who face barriers to traditional banking, including extensive paperwork, limited branch access or thin credit histories.
FairMoney said its automated platform processes tens of thousands of loan applications daily, and that it also serves merchants and small businesses through a dedicated FairMoney Business offering.
"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, the bank's managing director. He said the company's next phase would focus on deepening the value it provides to individuals and businesses, with continued investment in technology and products that respond to how Nigerians save, pay, borrow and manage money.
FairMoney's growth mirrors a broader expansion of digital lending and mobile banking in Nigeria, where fintechs including OPay, PalmPay, Moniepoint and Kuda have similarly built user bases in the tens of millions by extending formal financial services beyond traditional bank branches.
