FairMoney Unveils Credit Programme Targeted at Professionals

A fresh wave of interest is building around digital lending apps in Nigeria, as FairMoney introduces a new credit line aimed at helping professionals stay afloat in a tough economy. The microfinance bank has unveiled FlexiCredit, a product designed to give qualified users access to as much as ₦5 million without the long waits or rigid demands that often accompany traditional loans.

FairMoney describes FlexiCredit as a lifetime credit line that can be activated with a single application. Once approved, users receive a personal spending limit that can be drawn at any time through the app, with interest charged only on the amount used at 0.25 per cent per day. The company says the goal is to offer quick support for emergencies, lifestyle needs, or business opportunities without the inconvenience of bank queues or paperwork.

A Shift in Nigeria’s Lending Culture

For many Nigerian workers, earning a stable salary does not guarantee easy access to credit. Approval cycles in conventional institutions can stretch for weeks, while collateral and strict repayment terms often discourage borrowers. FairMoney claims FlexiCredit tackles these problems by keeping the credit line always open once activated.

Head of Marketing, Margaret Banasko, said the product was built with modern professionals in mind. “FlexiCredit was created for the modern Nigerian professional who values speed, clarity, and control. You only pay interest when you use your limit, and once you pay your minimum due, access is instantly restored,” she explained.

To qualify, applicants must earn at least ₦250,000 monthly, maintain a strong credit score, and complete Level Two KYC inside the FairMoney app. Salary accounts are linked directly for income verification, a process FairMoney says complies with CBN and NDPR data protection rules.

Approved customers have fourteen days to activate their credit line and must make their first withdrawal within sixty days to keep it active under the company’s risk guidelines.

Flexible Repayment for Busy Professionals

The repayment structure is designed to be intuitive. Each user receives a monthly due date displayed in the app, with the option to clear the full amount borrowed or pay only the minimum due. This minimum figure is calculated as a percentage of the amount used along with accrued interest. Paying it restores access immediately, while full repayment refreshes the entire limit.FlexiCredit’s entry into the market adds to the ongoing evolution of digital lending apps in Nigeria, where competition continues to push platforms to offer simpler and more transparent credit options.