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

The company disclosed this in a statement, saying the milestone reflected its commitment to expanding access to formal financial services for individuals and businesses across the country.

According to FairMoney, its platform allows customers to open and manage accounts, save money, transfer funds, pay bills, access credit and finance assets directly through their mobile phones.

The company said its digital-first model helps users overcome traditional barriers to financial services, including physical branch visits and extensive paperwork.

The company said its business unit, FairMoney Business, supports micro, small and medium-sized enterprises with business accounts, payment processing services and a range of financial tools to manage their operations.

The company added that its automated digital lending platform processes tens of thousands of loan applications each day, using technology-driven credit assessment models to provide formal credit to eligible customers.

Commenting on the milestone, the Managing Director of FairMoney Microfinance Bank, Henry Obiekea, attributed the achievement to the growing trust of its expanding customer base.

Obiekea said, “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. We are grateful for that trust, and we do not take it for granted. It reinforces our responsibility to continue providing simple, accessible, and reliable financial services that help more Nigerians participate in the formal financial system and achieve their financial goals.”

He added, “As we enter our next phase, our focus is on deepening the value we provide to both individuals and businesses. 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.”