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Renmoney Microfinance bank

by Dan Hunter
renmoney microfinance bank

Renmoney Microfinance bank is a group of technology and finance enthusiasts. The firm is very passionate about offering useful financial products and services to the public.

This article discusses what you need to know about the microfinance bank.

Renmoney microfinance bank customer care

If you have any inquiries about the products and services of Renmoney microfinance bank, you can always reach its customer care.

Phone number: 0700 5000 500. You can call between 9 am to 9 pm.

You can also email hello@renmoney.com.

Head office: No. 23, Awolowo Road Ikoyi, Lagos State, Nigeria.

Ikeja Office: No. 23, Opebi Road, Opebi, Ikeja, Lagos State.

Renmoney microfinance bank loan calculator

Whenever you need a loan to meet your needs, Renmoney microfinance bank is always ready to assist you. Some of its loans can be used to pay medical bills, purchase a new car, start or grow a small business, pay for school fees, pay rent, renovate your house, and many more.

To get full details about available loans and the loan calculator calculate duration and possible interest rate, please check The Renmoney Loan Calculator.

Sack staff

At the center of the COVID-19 pandemic, Renmoney fired almost half of its staff (close to 400 employees). This was a major decision as the financial firm considered the use of technology in handling more of its business operations. As one of the topmost microfinance banks in Nigeria providing business and personal loans, they often look for ways to serve their clients more. The company has been operating for more than 7 years.

With the current global pandemic, the staff of Renmoney also became victims of digital banking. Many employees in the sales department lost their jobs. This means half of the financial firm’s staff was laid off.

Board of directors

 In 2019, Oluwatobi Boshoro, the Chief Executive Officer of Renmoney Microfinance Bank resigned from her position – after ten months of appointment.

The reason for her resignation wasn’t disclosed.

The acting CEO of Renmoney is the seasoned banker, Keiran Donnelly.

Below are a few things you need to know about Keiran Donnelly:

He was the previous Chairman of the Board of Directors, Renmoney. Mr. Keiran has more than 30 years of experience in consumer finance and global banking.

He was the Chairman of the Board of Directors for the 4Finance Group (from 2015 to 2017).

From 2012 to 2013, he was also the Senior Vice President of Finstar Financial Group.

Mr. Keiran was the Managing Director, Head of Group Funding at Renaissance Group, Moscow from 2009 to 2012.

Managing Director, Head of Capital Markets, Renaissance Capital, Moscow– 2005 to 2009

He was also a Managing Director at Standard Bank, New York from 1995 to 2000.

He has been the Managing Director for Head of International Credit Sales at MDM Bank, Moscow, Russia. This was from 2003 to 2005.

Mr. Keiran has successfully worked with several other financial institutions. He is often committed to excellence.

Contact phone number

For any inquiry, you can call Renmoney via any of these phone numbers: 0700 5000 500 or 0700 7366 6639.

You can call the office anytime from 9 am to 9 pm, Monday to Friday.

Renmoney loan default

Renmoney Is committed to providing dynamic financial products and services for its customers. Cash loans of up to 2.5 Million Naira are available for salary earners. Individuals who are self-employed can also benefit from it.

However, there is a penalty for default in repayment of a loan. There will be a daily default charge of N300 (weekends and public holidays inclusive). If you are unable to repay the loan, Renmoney may be forced to inform your employer(s) and next of kin.

Also, continuous default poses an adverse effect on credit rating. This is bad as it may prevent you from having access to loans from other financial firms later.

Part of what makes you qualified for a loan at Renmoney is your ability to generate steady income. This will be properly verified. Also, you must live and work in Lagos State.

Is renmoney legit?

If you ever wondered whether Renmoney is legit or not, your doubt is over. Yes, Renmoney is very legit.

The financial institution is regulated by the Central Bank of Nigeria (CBN). It is also insured by the NDIC. Renmoney currently offers one the best rates on Savings and Fixed Deposit accounts in the market.

More than 200, 000 loans worth over 50 Billion Naira have been given to small businesses and individuals in the country. The loans Renmoney microfinance bank give is within N50, 000 to N4, 000, 000.


  • Dan Hunter

    Daniel is a Digital Marketer and a Copywriter. He is a member of the Association of Business Executives (UK). On most days, he enjoys writing, soccer, and spending time with Nature.

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