FairMoney surpasses 30 million registered users in Nigeria

FairMoney Microfinance Bank, a digital financial institution licensed by the Central Bank of Nigeria, has announced that it has surpassed 30 million registered users in Nigeria.

The platform provides various services via a mobile app, including borrowing, saving, money transfers, bill payments, and card usage. The bank also offers specialized tools for merchants and micro, small, and medium enterprises (MSMEs) through FairMoney Business to assist with financial management and daily operations.

By utilizing an automated digital platform, the bank processes tens of thousands of loan applications daily, aiming to provide formal credit to individuals and businesses that may face traditional barriers such as extensive paperwork or limited access to physical bank branches.