Digitnomics 
FairMoney Microfinance Bank has crossed the 30 million registered-user mark in Nigeria, highlighting the growing adoption of digital financial services across the country.
The Central Bank of Nigeria (CBN)-licensed digital bank said the milestone reflects increasing demand for mobile-based financial services, with customers using its platform for borrowing, savings, money transfers, bill payments, card services and asset financing.
FairMoney said its digital platform is designed to provide financial services to individuals and businesses, particularly customers who may face challenges accessing traditional banking services because of limited physical branch access, extensive documentation requirements or limited formal credit histories.
Through its mobile application, customers can open and manage accounts, save money, transfer funds, pay bills, use cards and access credit, subject to eligibility.
The bank also serves merchants and micro, small and medium-sized enterprises (MSMEs) through its FairMoney Business offering, which provides business accounts, payment services and other financial tools.
According to the company, its technology-driven lending infrastructure processes tens of thousands of loan applications every day. Its automated platform enables eligible customers to apply for formal credit without having to complete extensive paperwork or visit a physical branch.
Henry Obiekea, Managing Director of FairMoney Microfinance Bank, described the 30 million-user milestone as an important achievement for the company, while noting that customer trust remains central to its growth.
«“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,” Obiekea said.»
He added that the milestone places greater responsibility on the bank to provide accessible and reliable financial services.
“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,” Obiekea added.
FairMoney said it intends to continue investing in technology and expanding its products as it enters its next phase of growth.
The bank operates under a CBN microfinance banking licence and said it complies with applicable regulatory requirements. Eligible customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC), while the bank said it maintains measures to protect customer information in line with applicable data protection regulations, including the Nigeria Data Protection Act.
FairMoney said the 30 million registered-user milestone strengthens its focus on expanding access to digital financial services for individuals and businesses across Nigeria.
