FairMoney loan growth hits ₦150bn as the microfinance bank reports strong lending activity and over ₦7bn paid in savings interest
FairMoney Microfinance Bank, a Central Bank of Nigeria licensed lender led by Managing Director Henry Obiekea, 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 robust growth in Nigeria’s fast-evolving fintech sector.
Also read: Paystack launches microfinance bank to boost Nigerian business lending
The figures reflect a period of accelerated expansion for the technology-driven bank, which began operations in 2021 as a digital lending platform before scaling into a fully licensed microfinance bank offering a broad range of retail and business financial services.
FairMoney said the lending volumes highlight its focus on widening access to credit for individuals and small businesses traditionally underserved by conventional banks, while its savings products delivered competitive, inflation-beating returns to customers.
Henry Obiekea said the performance went beyond headline numbers, describing the loan disbursements and savings payouts as evidence of the institution’s determination to support economic activity and financial inclusion.
FairMoney loan growth has been supported by the bank’s use of artificial intelligence and machine learning tools that analyse alternative data, including smartphone usage and customer-provided information, to generate unique credit scores and enable fast, collateral-free lending.
Alongside digital loans, the bank now provides savings accounts, fixed deposits, current accounts, debit cards and point-of-sale solutions, positioning itself as a full-service microfinance institution within Nigeria’s increasingly cashless economy.
Operating under strict regulatory oversight, FairMoney said customer deposits are insured by the Nigeria Deposit Insurance Corporation and protected through compliance with the Nigeria Data Protection Regulation and bank-grade security standards.
The update comes as Nigeria’s financial system continues to align with the Central Bank of Nigeria’s Payment Systems Vision 2025, which has driven a sharp rise in electronic payments and instant bank transfers across the economy.
Also read: ‘This is not fair’ Man laments FairMoney treatment after N40k went missing in his account
Obiekea said the bank’s strategy for 2026 would remain anchored on fairness, empowerment and consumer confidence, as FairMoney seeks to play a decisive role in strengthening Nigeria’s digital financial ecosystem.
Peculiar Adirika is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
