FairMoney Pays N7bn Interest, Loan Disbursements Hit N150bn

FairMoney Microfinance Bank has said   it paid over N7bn in interest to savings customers, while loan disbursements exceeded N150bn in 2025.

The Managing Director, Henry Obiekea, disclosed this in a statement issued in Lagos on Monday.

Obiekea said the milestones reflected the bank’s commitment to expanding access to finance and strengthening Nigeria’s financial ecosystem.

He said FairMoney began operations in 2021 as a digital lending platform before evolving into a fully licensed microfinance bank.

According to him, the bank now offers savings, fixed deposit and current accounts, debit cards and Point of Sale solutions for businesses.

 “FairMoney’s operations are focused on driving financial inclusion through technology and competitive pricing,” Obiekea said.

He said the bank leverages artificial intelligence and machine learning to analyse financial data and generate credit scores for fast, collateral-free loans.

According to him, this approach enables FairMoney to assess creditworthiness beyond traditional banking models.

Obiekea said the bank operates under Central Bank of Nigeria regulation, with customer deposits insured by the Nigeria Deposit Insurance Corporation.

He added that FairMoney also complies with the Nigeria Data Protection Regulation.

Obiekea said the bank supported Nigeria’s digital payments growth in 2025, aligned with the CBN’s Payment Systems Vision 2025.

He said this was achieved by facilitating loan disbursements and savings interest payments through electronic channels.

 “As we move into 2026, we remain committed to financial inclusion, consumer confidence and supporting Nigeria’s financial sector,” Obiekea said. (NAN)

By Mike Odiakose, Abuja

Senator Ifeanyi Araraume has declared support for the re-election of President Bola Ahmed Tinubu.

Araraume, who spoke to newsmen at his Isiebu country home in Okigwe LGA, said Tinubu has the constitutional right to seek a second term, insisting that the president has performed well and deserves another four years to consolidate ongoing reforms.

He cautioned against what he described as inaccurate narratives about the ruling party and the nation’s political structure, stressing that Nigeria is not a one-party state.

According to him, Nigeria operates a multiparty democracy with more than 40 registered political parties, a development he said clearly reflects democratic freedom and political plurality.

Araraume said every Nigerian has the freedom to join any political party of choice, noting that members who joined the All Progressives Congress (APC) were neither forced nor coerced.

He explained that political realignments are not new in the country, recalling that similar movements occurred during the era of the Peoples Democratic Party (PDP).

Araraume said the APC functions as one family, with collaboration across the federal, state, and local government levels, adding that the party remains united behind President Tinubu’s re-election bid.

He disclosed that the APC has commenced an electronic registration exercise, urging existing members to validate their membership while encouraging new entrants to register.

Speaking on Imo State, Araraume said Governor Hope Uzodimma is currently serving his final tenure, expressing confidence that whoever the party presents would be competent and acceptable.

He said the party would support its eventual candidates across all levels in the state, adding that while there is always room for improvement in governance, issues identified would be constructively addressed.

Araraume also recalled his role in Tinubu’s presidential campaign in 2023, saying the president appointed him then as national director of trade and economy for Southern Nigeria, covering the South East, South South, and South West, noting that if given another opportunity, Tinubu would deliver even stronger performance.

By David Torough, Editor

The 9th edition of DAILY ASSET Annual Awards will be held February 5, in Abuja, management of Asset Newspapers Limited, Publishers of the Abuja-based daily announced yesterday.

Since its inception in 2017, the Daily Asset Annual Awards has become a frontline event on the social calendar of media houses in the country as it brings together top government functionaries, leading professionals, captains of industry, traditional rulers, politicians and philanthropists across the length and breadth of the country.

In a statement signed by Publisher and Editor-in-Chief of the Newspaper, Dr Cletus Akwaya, the Newspaper said the event will hold at the NICON Luxury Hotel, Central Business District Abuja and will be attended by state Governors, Ministers, National Assembly Members, Business leaders, Members of the Diplomatic Corps, professionals from different fields and others who have been invited to the event.

“At the 9th edition of our Annual Awards, we wish to make a bold statement that DAILY ASSET has become a leading brand in Newspaper Journalism to be reckoned with,” the statement said.

It invited members of the public desiring to participate in the programme in any way including corporate sponsorship to approach the management for more detailed information on participation procedures. 

On the list of 2025 award nominees published last December 22,   Governors of Adamawa State, Rt Hon. Ahmadu Fintiri; Enugu State, Dr Peter Mbah and Edo State, Senator Monday Okpebholo were listed as Governors of the Year in different sectors while Executive Chairman, National Revenue Service, Dr Zacch Adedeji was named Man of the Year and Vice President (Oil and Gas), Dangote Industries Plc, Edwin Devakumar was named Corporate Leader of the year.

The Minister of Livestock Development, Hon Mukhtar Idi Maiha and his Counterpart in the Ministry of Education, Dr  Maruf Tunji Alausa were named as Ministers of the Year for National Peace and Transformation of the Livestock Sector and Educational Transformation respectively.

Former Minister of Foreign Affairs, Chief Tom Ikimi and former Deputy Governor of Benue State, Chief Steven Lawani and National Chairman, Arewa Consultative Forum(ACF) and legal luminary, Chief Mike Mamman Osuman(SAN) were  named  for Life Time Achievement  Awards.

Similarly, the Editorial Board named Senators Asuquo Ekpenyong(Cross River South-APC) and Abdulrahman Sumaila Kawu(Kano South – APC and Hon Aliyu Wakili Boya(Fufore/Song Federal Constituency, Adamawa State) as Legislators of the year, while a frontline Businessman, Chief Peter Adole was nominated by the Editors as Philanthropist of the year.

National Vice Chairman(North East), All Progressives Congress, Dr  Salihu Mustapha was nominated for the award of Politician of the year and  the Chief Medical Director of Abubakar Tafawa Balewa Teaching Hospital, Bauchi, Prof Yusuf Bara Jibrin  was found worthy for Professional  Excellence of the Year Award category and Group Managing Director of Benue Investment and Property Company(BIPC), Dr Raymond Asemakaha emerged Chief Executive of Officer(CEO) of the Year with Dr Kanyitor Chira Shakaa, Auditor General for the Federation(AuGF) as Public Servant of the Year.

On the corporate side, Fintech giants, Opay Digital Services Limited emerged as Brand of the Year, while Fidelity Bank Plc was named by the Editors as Bank of the Year and the Presidential Initiative on Compressed Natural Gas(Pi-CNG) won the award of Government Agency of the year. In the same vein,  Zinox Computers was named ICT Company of the Year by the Awards panel.

The statement said arrangements were in top gear towards a successful event for public presentation of the awards.

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