Leading credit-led neobank FairMoney has officially surpassed 30 million registered users in Nigeria marking a major milestone in its expansion across Africa’s largest digital banking market.
FairMoney Microfinance Bank has passed 30 million registered users in Nigeria, marking a major milestone in its efforts to make digital financial services more accessible. The milestone shows a growing shift among individuals and small businesses toward using mobile platforms for their daily banking needs.
Operating under a license from the Central Bank of Nigeria (CBN), FairMoney allows customers to open and manage accounts, save money, transfer funds, pay bills, use debit cards and secure loans directly through its mobile application.
FairMoney’s digital-first approach helps bridge financial gaps for individuals and micro, small, and medium-sized enterprises (MSMEs) that often face barriers at traditional brick-and-mortar banks, such as complex paperwork, a lack of formal credit history or distant branch locations.
By removing these hurdles, the platform helps bring more people into the formal financial system. In addition to personal banking, the bank supports business owners through FairMoney Business, offering dedicated business accounts, payment processing and tailored money management tools to help merchants grow.
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Behind the scenes, FairMoney runs an automated digital credit platform that processes tens of thousands of loan applications every day. Using technology-driven credit evaluations, eligible customers can access formal loans quickly without submitting extensive physical paperwork or visiting a branch.
FairMoney Microfinance Bank Managing Director Henry Obiekea noted that reaching 30 million registered users demonstrates the strong trust Nigerians have placed in the platform. He added that moving forward, the bank will focus on investing in its technology to strengthen solutions for how Nigerians save, make payments, access credit and manage their business finances.
To protect its growing user base, FairMoney operates in line with national regulatory standards. Eligible customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC) and the bank maintains strict data privacy protections in compliance with the Nigeria Data Protection Act.
