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TeamApt, Awabah Partner to Boost Pension Drive for Nigerians

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TeamApt Ltd., a subsidiary of Moniepoint Inc. and a leading financial infrastructure provider, has partnered with Awabah, the National Pension Commission’s first licensed Accredited Pension Agent, to expand pension access for millions of Nigerians in the informal economy.

The partnership was unveiled in Abuja at the launch of Awabah’s agent licence, themed “Building Financial Resilience: Securing the Future with Personal Pensions.”

At the event, PenCom Director-General Omolola Oloworaran underscored a major imbalance in Nigeria’s pension system, noting that while pension assets have grown to over ₦27 trillion, the benefits remain largely concentrated among formal-sector workers. She observed that most informal-sector workers—who make up the majority of Nigeria’s workforce—still retire without any form of savings.

This challenge is further highlighted in Moniepoint’s 2025 Informal Economy Report, which reveals that although 65 per cent of informal businesses recorded revenue growth, most lack the structural resilience required for long-term sustainability and succession.

Through the partnership, TeamApt—a Central Bank of Nigeria–licensed switching and processing company—will enable seamless pension registration and contributions for Awabah users via its Direct Debit service on Point of Sale (POS) terminals nationwide. Informal workers can enrol for personal pensions, tokenize their cards, and automate periodic contributions in just a few steps.

The initiative simplifies pension savings by turning what was once a complex, bureaucratic process into a routine transaction, enabling business owners and workers to build financial security beyond their productive years.

“When we started Awabah, we were driven by one core belief—that no African worker should be one accident or crisis away from poverty,” said Tunji Andrews, Chief Executive Officer of Awabah.

“This partnership with TeamApt allows us to scale that vision. By leveraging their Direct Debit service and extensive POS network, we are meeting informal workers where they already operate—markets, workshops, kiosks, and roadside businesses. With small, regular contributions, workers can now access personal pensions bundled with health, accident, and life insurance,” he added.

TeamApt CEO Dennis Ajalie said the collaboration aligns with the company’s long-standing mission to power Nigeria’s informal economy.

“At TeamApt and Moniepoint Inc., our focus has always been on enabling the informal sector,” Ajalie said. “Today, working within our licence framework and alongside our co-subsidiary, Moniepoint Microfinance Bank, we operate across all 774 local government areas, serving millions of Nigerians who drive economic activity.”

He described the partnership as a critical step toward pension inclusion, adding that it demonstrates how financial infrastructure can deliver real, long-term value to everyday Nigerians.

Ajalie also praised PenCom’s leadership for creating an enabling environment for innovation, noting that Oloworaran’s reforms have opened the door for partnerships capable of delivering sustainable pension coverage for informal workers.

The initiative is powered by TeamApt’s robust financial technology ecosystem, which has supported banks, fintechs, and financial institutions for more than a decade. Its omni-channel Direct Debit service allows automated recurring collections—such as pension contributions, subscriptions, and repayments—directly from customers’ bank accounts with their consent.

Beyond pensions, the platform enables informal workers to automate investments in the capital market, access healthcare through HMOs, and secure insurance coverage for themselves and their families—extending financial security far beyond retirement.


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NITDA, CAC Activate Cybersecurity Measures Amid System Concerns

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The National Information Technology Development Agency (NITDA) and the Corporate Affairs Commission (CAC) have initiated coordinated measures to strengthen cybersecurity following recent concerns affecting aspects of CAC’s digital systems.

Both agencies said they have activated response and assurance mechanisms in line with national cybersecurity frameworks to safeguard critical infrastructure and maintain service integrity.

NITDA reiterated that all Ministries, Departments, and Agencies (MDAs) must adopt proactive cybersecurity measures in compliance with the National Cybersecurity Policy and Strategy (NCPS) 2021.

The agency directed all MDAs to immediately review and reinforce their cybersecurity architecture to address emerging threats targeting government systems and sensitive data.

As part of the directive, MDAs are required to conduct comprehensive security assessments, remediate identified vulnerabilities, and strengthen access controls across critical platforms.

They are also expected to enhance data protection mechanisms, maintain effective backup and disaster recovery systems, and improve monitoring capabilities to detect and respond to suspicious activities.

In addition, there is the need for functional incident response frameworks, including prompt reporting of cybersecurity breaches for coordinated intervention.

Detailed cybersecurity guidelines have already been issued to MDAs for implementation as part of ongoing efforts to strengthen resilience across public sector digital infrastructure.

The measures are aimed at improving the overall security posture of government institutions and ensuring the continued protection of national digital assets.

NITDA reaffirmed its commitment to supporting government agencies in safeguarding digital systems and advancing cybersecurity best practices across the public sector.


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Nigeria Customs Deploys AI to Cover Revenue Leaks

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The Nigeria Customs Service (NCS) has rolled out an artificial intelligence (AI) driven capacity-building programme to improve revenue generation and reconciliation across its operations.

The initiative, unveiled during a three-day training event in Abuja, aims to transition the agency toward data-driven administration as Nigeria seeks to boost non-oil revenue.

The adoption of AI will enable the service to better manage complex trade systems, detect anomalies and reduce revenue leakages, says Bashir Adewale Adeniyi, comptroller-general of the NCS.

AI-powered tools are already being integrated into risk management and cargo scanning systems to allow for real-time analysis of trade patterns.

The technology marks a transition from manual, reactive processes to predictive and automated decision-making, Adeniyi adds.

The programme also reflects a shift in the relationship between the NCS and the National Assembly toward a collaborative framework focused on transparency and efficiency.

The training is a strategic intervention to address persistent gaps in revenue management, says Kikelomo Adeola, deputy comptroller-general of the NCS.

AI applications, ranging from automated data analysis to predictive intelligence, will significantly enhance the integrity of public financial systems, she says.

The initiative aligns with broader efforts to modernise governance and improve compliance across revenue-generating agencies, says Bamidele Salam, chairman of the House Public Accounts Committee.

Lawmakers and fiscal authorities at the event underscored the urgency of adopting advanced technologies amid rising budgetary pressures.

This move comes as the federal government increases scrutiny over revenue leakages and audit discrepancies.

The partnership between the NCS and the legislature is critical to strengthening fiscal discipline and ensuring all revenue due to the federation is accurately captured, Adeniyi concludes.


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Lagos Targets Vulnerable Residents in Expanded Social Register

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Lagos State Government has intensified efforts to strengthen its social protection framework with a fresh push to update the state’s Single Social Register.

Lagos Targets Vulnerable Residents in Expanded Social Register

Babajide Sanwo-Olu, Governor, Lagos

This was contained in a press statement on the government’s Facebook page on Wednesday.

The initiative, led by the Lagos State Ministry of Economic Planning and Budget, formed the focus of a strategic engagement held on Monday with Community-Based Targeting teams, local government coordinators and field enumerators across the state’s 57 Local Government Areas and Local Council Development Areas.

The meeting, themed “Closing the Gap: Accelerating Lagos State Single Social Register Update,” took place at the Radio Lagos Multipurpose Hall in Agidingbi, Ikeja.

Officials said the exercise is aimed at improving the accuracy and reach of the register, which serves as a critical tool for planning and delivering targeted social interventions, including financial support, healthcare and education services.

Speaking at the session, Ope George, commissioner for Economic Planning and Budget, commended field workers for their commitment while urging them to scale up their efforts.

He called on participants to be “more intentional by intensifying their commitment,” reaffirming the government’s resolve to “continuously strengthen and refine the Register to reflect evolving realities.”

Also speaking, Olayinka Ojo, permanent secretary in the ministry, described the register as central to effective governance and service delivery.

She said “it remains a cornerstone for effective planning and delivery of social intervention programmes,” adding that the ongoing update is designed to “further enhance data reliability, coordination, and service delivery outcomes.”

Ojo noted that sensitisation efforts would be expanded across all councils to ensure wider inclusion of residents, stating that “the advocacy and sensitisation will scale throughout the 57 LGAs and LCDA to give more to Lagos residents.”

According to the government, the updated register is expected to expand access to social protection programmes and improve the targeting of interventions for the most vulnerable populations.

The engagement also provided a platform for stakeholders to strengthen collaboration, improve data quality and reinforce transparency in grassroots data collection.

The state government reiterated its commitment to leveraging accurate data and partnerships to drive inclusive development, reduce vulnerability and improve living standards across Lagos.


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