FairMoney disburses N150bn loans, pays N7bn interest to savers

By Chinenye Anuforo

FairMoney Microfinance Bank has disclosed that it disbursed more than ₦150 billion in loans over the past year, while paying over ₦7 billion in interest to savings customers, highlighting the growing role of technology-driven banks in Nigeria’s evolving financial ecosystem.

The fintech-led microfinance bank, which began operations in 2021 as a digital credit platform, has since scaled into a fully licensed microfinance bank, expanding its services beyond instant loans to include savings products, fixed deposits, current accounts, debit cards and POS solutions for businesses.

FairMoney’s growth reflects a broader shift within Nigeria’s fintech sector, where digital-first institutions are increasingly filling credit and savings gaps left by traditional banks. By leveraging artificial intelligence and machine learning, the bank analyses alternative data including smartphone usage patterns and customer-provided information to generate proprietary credit scores. This approach enables fast, collateral-free lending to individuals and small businesses often excluded from conventional banking.

According to the bank, its technology-driven model has helped accelerate access to capital for underserved segments, while offering savers competitive, inflation-beating returns.

Commenting on the performance, Managing Director of FairMoney MFB, Henry Obiekea, said the figures highlight more than commercial growth. “Our loan disbursements and savings pay-outs represent our commitment to supporting individuals and businesses across Nigeria,” he said. “We are focused on providing essential capital for growth while ensuring our customers can preserve and grow their wealth.”

Operating under a licence issued by the Central Bank of Nigeria (CBN), FairMoney is regulated in line with national banking standards, with customer deposits insured by the Nigeria Deposit Insurance Corporation (NDIC). The bank also said it complies with the Nigeria Data Protection Regulation (NDPR) and applies bank-grade security protocols to safeguard customer data.

The announcement comes against the backdrop of Nigeria’s rapid transition to a digital payments economy under the CBN’s Payment Systems Vision 2025. By late 2025, electronic payments had surged nationwide, with instant bank transfers accounting for nearly 70 per cent of all e-payment transactions. Industry analysts say fintech platforms such as FairMoney have contributed significantly to this growth by embedding digital payments into lending and savings services.

Looking ahead, Obiekea said FairMoney remains focused on deepening financial inclusion and strengthening consumer trust. “As we move into 2026, our priority is to continue building a fair, inclusive and resilient financial system powered by technology,” he added.