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Moniepoint Marks 10 Years of Transforming Nigerian Businesses

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Moniepoint Inc., Nigeria’s definitive platform for small businesses and Africa’s all-in-one financial ecosystem, today released its 2025 Year in Review, marking a decade of “financial happiness” and a transformative year of growth.

Moniepoint Marks 10 Years of Transforming Nigerian Businesses

Moniepoint

Highlighting its role as the backbone of Nigeria’s entrepreneurial economy with over 6 million active businesses, the company revealed that its microfinance bank has now disbursed over ₦1 trillion in credit to thousands of businesses from provision stores and supermarkets to building materials sellers.

It is worthy to note that on average these businesses experienced growth by more than 36% after accessing credit, signposting its primacy as a transformational growth level and instrument of deepening shared prosperity.

Moniepoint uses alternative data points that include transaction histories, business patterns and payment behaviours in a bid to accommodate what traditional credit scoring misses to drive financial inclusion and access to credit.

The company’s 2025 performance reinforces its role as a critical financial infrastructure which not only supports the Nigerian economy, but also impacts everyday lives, creating immense value.

Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint Inc (formerly known as TeamApt Inc) has established itself as the leading financial platform for Nigeria’s vast network of small and medium-sized businesses (SMEs), offering an integrated suite of services, including digital payments, business bank accounts, credit, foreign exchange (FX), and management tools.

During the year, as Nigeria’s largest merchant acquirer, now powering 8 out of every 10 in-person payments made across the country, Moniepoint MFB, the banking and payments subsidiary, processed ₦412 trillion in transaction value handling more than 14 billion transactions. This clearly suggests that Moniepoint is well-positioned to play a greater role in Nigeria’s steady march towards a trillion dollar economy by 2030.

“Our journey has been one of intentional evolution,” said Tosin Eniolorunda, Group CEO and Founder of Moniepoint Inc. “What started as a passion to solve overlooked problems has evolved into a platform powering the dreams of millions.

“As 83% of employment in Africa exists in the informal economy, our mission to create financial happiness is an operational mandate that guides our product development, our market expansion, and our capital allocation decisions.”

Beaming with enthusiasm, Eniolorunda continues, “Yet for all we have accomplished, we approach our second decade with the clarity that our work remains unfinished.

“As we enter this next chapter, we do so with strengthened conviction in our strategy, deepened partnerships with world-class institutional investors, and an organisation scaled to deliver on Africa’s entrepreneurial potential.

“The infrastructure we have built over the past decade provides the foundation. The journey is far from over, but our resolve has never been stronger. To our partners, our customers, and our team: thank you for a decade of impact. We are just getting started.”

In 2025, Moniepoint Inc. reached a series of critical inflexion points, highlighted by the successful completion of its Series C funding round, which raised over $200 million in equity financing from leading institutional investors, including Development Partners International, Google’s Africa Investment Fund, Visa, the International Finance Corporation, and Verod Capital.

The year also marked the launch of MonieWorld in the United Kingdom, extending Moniepoint’s platform to serve the African diaspora by strengthening key remittance corridors and laying the foundation for the delivery of comprehensive cross-border financial services.

Moniepoint MFB re-launched its savings product in a firm demonstration of the company’s commitment toward its’ oft stated mantra of providing financial happiness. Data reveals in terms of savings behavioral patterns, the majority of users choose to save on a daily basis, with focus across business operations (24%), rent (16.5%), and education (10%) representing top savings priorities.

The launch of Moniebook and the acquisition of a national Microfinance Bank license for Moniepoint MFB further expand the company’s regulated capabilities and product depth.

TeamApt Ltd, the switching and processing subsidiary of Moniepoint Inc., also achieved major regulatory and operational milestones in 2025 that have solidified its position in the global payments landscape. After a rigorous certification process, the company successfully secured licenses from Mastercard and Visa to act as a processor and acquirer for these global card schemes..

This strategic move allows TeamApt to support international card payments directly and offer these critical switching services to other businesses across the continent.

Monnify, the web payment gateway processed N25 trillion in the period under review, demonstrating remarkable resilience and industry confidence firmly positioning it for more business-to-business transactions.

Moniepoint’s impact extended beyond banking into critical social interventions even as the company partnered with the Federal Government to support the Rice Intervention Programme, reaching nearly 850,000 beneficiaries, and worked with the Kaduna State Government in grants disbursement to vulnerable citizens.

Through these initiatives, Moniepoint continues to build the infrastructure required to unlock Africa’s entrepreneurial potential, positioning itself as a trusted partner for the delivery of large-scale economic empowerment programmes.

As Moniepoint Inc. enters its second decade, its well chronicled decade-long evolution from a backend technology provider to a household name, directly complements the Nigerian government’s vision of a more inclusive, data-driven, and productive financial landscape. To read more about the 2025 Year in Review Report:, visit http://2025.moniepoint.com


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Paradigm Initiative Hails New Data Protection Laws as World Marks Privacy Week

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As the world observes Data Privacy Week under the theme “Take Control of Your Data,” Paradigm Initiative (PIN) has commended countries that enacted or strengthened data protection laws in the past year to protect citizens’ privacy rights.

Paradigm Initiative Hails New Data Protection Laws as World Marks Privacy Week

PIN

The week marks the January 28, 1981, signing of Convention 108, the first international treaty on data privacy and protection.

PIN spotlighted Djibouti, The Gambia, and Burundi for passing data protection laws in June, September 2025, and January 2026, respectively. It also recognised Botswana, whose law took effect in January 2025, and Algeria, which amended its legislation in July 2025 to mandate Data Protection Officers.

“We applaud these strides,” PIN said, urging data protection authorities across Africa to prioritise implementation and enforcement to uphold data subjects’ rights.

In Nigeria, PIN’s advocacy has yielded key wins. In 2024, it challenged unauthorised websites selling sensitive personal and financial data of Nigerians for as low as N100. Strategic litigation forced United Bank for Africa (UBA) PLC to pay N8 million to customer Miss Folashade Molehin for unlawfully opening a domiciliary account without her consent.

In 2025, the Federal High Court in Abuja ruled against Domino’s Pizza (operated by Eat’n’Go), awarding Chukwunweike Araka Akosa N3 million for unsolicited direct marketing via his phone. The court deemed it a violation of Section 37 of the 1999 Constitution and Sections 25 and 26 of the Nigeria Data Protection Act, 2023. The case originated via PIN’s Ripoti platform, which documents and redresses digital rights abuses across Africa, offering pro-bono legal aid.

Yet challenges persist. PIN warned that countries like the Democratic Republic of Congo, Mozambique, South Sudan, Sudan, Guinea-Bissau, Eritrea, and Western Sahara lack robust laws, exposing citizens to grave privacy risks.

It called on Liberia, Namibia, Sierra Leone, Mozambique, and Libya to urgently enact data protection frameworks.


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MTN Group Names Shoyinka Shodunke IT Core Design Executive Ahead of March 2026

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MTN Group has announced the appointment of Shoyinka Shodunke as Executive: IT Core Design and Delivery, effective 1 March 2026.

MTN Group Names Shoyinka Shodunke IT Core Design Executive Ahead of March 2026

Shoyinka Shodunke

Shoyinka brings more than 29 years of experience in technology leadership, digital transformation and innovation across Africa’s telecommunications sector.

His career spans several senior roles, including Director of Technology at Vodafone Ghana, Chief Technology and Information Officer (CTIO) at MTN Cameroon, Chief Information Officer (CIO) at MTN Zambia, and General Manager: Architecture for the MTN Shared Services Hub in Southeast Africa.

He currently serves concurrently as CIO for MTN Nigeria and MTN South Africa, where he has led large-scale digital initiatives impacting more than 80 million subscribers and overseen a technology ecosystem comprising over 350 professionals.

Shoyinka is recognised for a leadership approach anchored in adaptive intelligence, resilient system design and collaborative value creation.

His work has focused on leveraging Artificial Intelligence (AI) to enhance human creativity, strengthen system resilience and drive innovation at scale.

In 2025, he was named MTN Group CIO of the Year for his role in advancing one of Africa’s most ambitious digital transformations, supporting MTN’s evolution from a traditional telecommunications operator into an AI-enabled technology organisation.

He also received the Tech Champion in Telecoms and CIO of the Year awards at the CIO and C-Suite Awards Africa.

His academic background includes an Advanced Management Programme (AMP) at Harvard Business School, an MBA from the University of Northampton, a Postgraduate Diploma in Global Management from the University of Salford Manchester, and a Bachelor of Technology in Mathematics and Statistics from the Federal University of Technology in Nigeria.

In his new role, Shoyinka will lead the development and execution of standardised and AI-enhanced IT architectures across MTN’s footprint.

His responsibilities will include integrating AI-driven automation, predictive analytics and digital transformation initiatives to improve customer experience, operational efficiency and service agility, while accelerating innovation cycles and time-to-market.


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Jide Sipe, Abiodun Coker of UBA, Others Emerge as ACAMB Executives

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Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has ushered in a new executive council, with a strong representation from leading financial institutions, to steer its affairs for the 2026-2028 term.

Jide Sipe, Abiodun Coker of UBA, Others Emerge as ACAMB Executives

President, Association of Corporate Communication & Marketing Professionals in Banks, Jide Sipe (BOI); Vice President 1, (ACAMB) Chinwe Bode-Akinwande (FBN); Vice President 2, Morolake Phillip-Ladipo (Wema); General Secretary, Olugbenga Owootomo (Polaris); Assistant General Secretary, Ademola Adesola (Parallex); Financial Secretary, ACAMB, Halima Ishaq (Jaiz); Treasurer, Unoaku Anyadike (GTB); Treasurer; Publicity Secretary, Abiodun Coker (UBA) Social Secretary, Macqueen Afolabi (Zenith Bank) during the 2025 Annual General Meeting and 2026 Exco Election held at Bankers House in Lagos

The election, held during the association’s Annual General Meeting in Lagos on Thursday, saw seasoned professionals from across the banking landscape elected to key positions.

The newly constituted executive includes Babajide Sipe of the Bank of Industry as President; Chinwe Bode-Akinwande of FirstBank as First Vice President; Morolake Philip-Ladipo of Wema Bank as Second Vice President; Abiodun Coker of the United Bank for Africa (UBA) as the Publicity Secretary; Olugbenga Owootomo from Polaris Bank as General Secretary; Halima Ishak from Jaiz Bank as Financial Secretary; Ademola Adesola from Parallex Bank as Assistant General Secretary; Unoaku Temitope Anyadike from Guaranty Trust Bank as Treasurer and MacQueen Afolabi from Zenith Bank as Social Secretary

In his inaugural address, President Babajide Sipe expressed profound gratitude for the confidence reposed in him, outlining a purposeful agenda for his tenure.
“I promise to lead with courage, intention, and purpose. My leadership will be anchored on four pillars: mentorship and career development; strengthening outcomes relevant within the banking industry; active member engagement; and strong representation and advocacy,” he stated.

He further emphasized, “I will be an unrelenting advocate for our members and for the strategic value of our profession. My key focus is growth—growth for members, growth for the association, and ensuring that the values of ACAMB are protected.”

The newly elected First Vice President, Chinwe Bode-Akinwande, who gave the vote of thanks, rallied members for collective effort. “The job of amplification is for each and every one of us. We have heard the feedback and are ready to hit the ground running,” she said. She reassured members of the new Executive Council’s dedication, stating, “We have no doubt in our minds that this EXCO will do great.”

The immediate past President, Rasheed Bolarinwa, highlighted the achievements of his tenure, notably in professionalising the membership. “We facilitated structured arrangements with regulatory bodies, enabling our seasoned professionals to formalise their certifications. Today, there’s hardly anyone in banking communication who does not belong to key professional groups,” he recounted.

Commenting on the ongoing bank recapitalisation exercise, the former president allayed fears, expressing optimism. “There are no issues. If mergers and acquisitions happen, it will be for the good of the industry and its workforce. There is no cause for alarm,” he concluded.

As the new EXCO assumes office, all eyes are on its pledge to drive growth, unity, and vigorous advocacy for the banking communications community.


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