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Business News of Thursday, 30 December 2021


We’ve disbursed over N117bn loans since inception –Hainy, CEO, FairMoney

FairMoney MFB logo FairMoney MFB logo

Leading digital bank, FairMoney MFB, has reiterated its commitment to providing Nigerians with loans and capital to meet their immediate needs and grow their businesses.

Speaking at a media parley held recently at Radisson Hotel, Ikeja, Lagos, FairMoney’s co-founder/CEO, Laurin Hainy, said the company is positioned to support its customers across their various financial service needs. “Our mission has always been to serve the needs of as many Nigerians as possible. Our approach to doing this involves providing millions of Nigerians with loans and capital to meet their immediate needs and in some cases, to grow their businesses, and so far, we have disbursed over N117 billion loans since inception.

“Our goal ultimately is to use technology to bank the 60 million Nigerians currently excluded from the financial ecosystem. We have also introduced secure and innovative technology processes to improve our lending operations, as well as a strong privacy protection policy, and a comprehensive loan collection policy which has been successfully deployed in the last four years.”

With millions benefiting from its numerous financial services and features, FairMoney has carved a reputation as a leading driver for financial inclusion in Nigeria. The company has achieved this through its strong lending service offerings, which avail customers the opportunity to secure loans without collateral in as little as five minutes, including the provision of free debit cards and free inter-bank transfers to continually support SMEs and MSMEs, by alleviating common expenses issued by traditional banks through account maintenance charges.

Among the many offerings of FairMoney is the digitisation of general banking procedures through the app by making bill payments accessible without needing to visit banking halls, and introducing consumer empowering initiatives like the recently concluded FairMoney Transact & Win Black Friday engagement, which had winners go home with 10 smartphones, five generators and a delivery motorcycle; as well as some Christmas giveaways all in a bid to offer equal opportunities for all.

In her remarks at the event, Nengi Akinola, Head Marketing & Branding, emphasized FairMoney’s commitment to supporting Nigerians. “To us at FairMoney, the goal is to see a world where everyone has equal financial opportunities and support to reach their financial goals, however great or wide it may be. We will continue to build on our offerings, so that we can continue to meet the growing needs of the average Nigeria customers.