A cross section of Moniepoint Executives and the Foreign Affairs delegation during the Minister’s visit to the Moniepoint office as part of the Minister’s High-Level Working Visit To The United Kingdom last week.
As Nigeria’s fintech sector continues to thrive, the Honourable Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, paid a visit to the UK offices of Moniepoint Inc., a top Nigerian financial institution, during his high-level working trip to the United Kingdom.
The visit was aimed at strengthening diplomatic relations and fostering deeper collaboration between Nigeria and the UK, showcasing the country’s commitment to economic growth and technological innovation. Ambassador Tuggar’s stop at Moniepoint underscored the company’s impressive rise and its significant impact on Nigeria’s financial landscape.
During his tour, Ambassador Tuggar described Moniepoint as a “true Nigerian success story,” emphasizing its remarkable growth into a fintech powerhouse with a multibillion-dollar valuation. He commended the company’s workforce of over 2,000 employees and extensive network of sales personnel, noting its crucial role in empowering millions of businesses and driving financial inclusion across the country.
“Nigeria holds a strong position in the fintech and financial services industry,” the Minister stated. “With banks and fintechs operating across Africa, it is vital to instill confidence in Nigerian enterprises as they expand globally. Moniepoint is a testament to the strength of our fintech ecosystem.”
Ambassador Tuggar also highlighted the substantial backing Moniepoint has received from global investors such as Google’s Africa Investment Fund, Visa, and British International Investment (BII). He stressed that a thriving fintech sector translates into job creation, greater financial inclusion, and overall economic growth for Nigeria.
Welcoming the Minister, Moniepoint Inc. CEO Tosin Eniolorunda reiterated the company’s mission to empower millions of business owners and promote financial well-being across Africa. He highlighted the transformative role of digital technology in Nigeria and the opportunities it presents for economic and social development.
“By providing innovative and efficient financial tools, technology can serve as a catalyst for growth,” Eniolorunda said. “This visit by His Excellency Ambassador Tuggar underscores the importance of international collaboration in advancing Nigeria’s fintech sector. Strategic alliances with global stakeholders will unlock new opportunities benefiting both local and international communities.”
He further emphasized Moniepoint’s alignment with the Nigerian government’s vision for enhanced cooperation in trade, investment, and technology, expressing the company’s commitment to contributing to the nation’s digital economy and fostering lasting partnerships.
Moniepoint has established itself as a leader in Nigeria’s fintech space. As the country’s largest merchant acquirer, it facilitates the majority of Point of Sale (POS) transactions, processing over one billion transactions monthly, with total payment volumes surpassing $22 billion. This has enabled thousands of small and medium-sized enterprises (SMEs), particularly in the informal sector, to digitize their businesses and integrate into the evolving African economy.
Key Moniepoint executives present during the visit included Co-Founder and Chief Technology Officer Felix Ike, Vice President of Corporate Affairs Didi Uwemakpan, Senior Vice President of M&A & Investor Relations Ross Strike, CEO of Moniepoint UK Ravi Jakhodia, and Chief Financial Officer Bayo Olujobi.
Accompanying the Foreign Minister were notable figures such as Dotun Olowoporoku, Managing Partner at Starta, Gbenga Ajayi, Partner and Head of Africa at QED Investors, and senior officials from the Nigerian High Commission in London and the Ministry of Foreign Affairs. The visit reinforced the message that Nigerian companies are not only thriving domestically but also expanding their global reach, strengthening Nigeria’s economic standing and reputation on the world stage.
Founded in 2015 in Lagos by Tosin Eniolorunda and Felix Ike, Moniepoint (formerly TeamApt Inc.) has grown into a comprehensive digital financial services provider. It offers a range of solutions, including payments, banking, credit, business management tools, and cross-border payment services, serving over 10 million businesses and individuals across Nigeria and Africa.
Recognized as Africa’s fastest-growing fintech in both 2023 and 2024 by the Financial Times of London, Moniepoint has also received several prestigious awards, including the National Inclusive Payment Initiative Award, Financially Inclusive Fintech of the Year from the Central Bank of Nigeria, and SME Microfinance Bank of the Year at the BusinessDay Banks & Other Financial Institutions (BAFI) Awards.
Ambassador Tuggar’s visit to Moniepoint’s UK office highlights Nigeria’s fintech sector as a key driver of economic progress and global investment, reinforcing the country’s potential as a hub for financial innovation.
