Presidency Hails Moniepoint for Boosting Financial Inclusion
The Federal Government has commended Moniepoint Inc, Africa’s fastest-growing financial institution, for its remarkable achievements in the financial technology sector and its continued efforts to promote financial inclusion. The government also praised the company for its active role in combating financial fraud through collaborations with law enforcement agencies.
The commendation was made by Vice President Kashim Shettima during a courtesy visit by Moniepoint’s leadership team to the Presidential Villa. The delegation, led by Moniepoint’s CEO, Tosin Eniolorunda, included key members of the company, such as Babatunde Olofin, MD of Moniepoint Microfinance Bank, Didi Uwemakpan, Vice President of Corporate Affairs, and Ravi Sharma, Partner at Lightrock Global, a private equity firm investing in Moniepoint.
In his address, Tosin Eniolorunda expressed gratitude to the Vice President for his support of digital innovation and financial inclusion initiatives. He highlighted Moniepoint’s growth into Africa’s latest unicorn and reaffirmed the company’s dedication to Nigeria’s financial ecosystem. “At Moniepoint, we are big believers in driving collaborations across the entire ecosystem, with collaboration being the cornerstone of progress,” Eniolorunda stated. He emphasized the company’s commitment to empowering underserved communities and small businesses across Nigeria, showcasing its role in enhancing financial access and supporting economic growth.
Moniepoint’s collaboration with key law enforcement agencies, including the Nigeria Police Force, the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC), has played a vital role in leveraging technology to combat financial fraud and protect users. “Together, we can unlock opportunities, transform lives, and build a more inclusive economy for all,” Eniolorunda added.
Vice President Shettima congratulated Moniepoint for achieving unicorn status and recognized the company’s impressive growth, which has led to the creation of over 3,000 jobs. He lauded their innovative approach to addressing financial challenges in Nigeria and emphasized the company’s alignment with the government’s goal of building a $1 trillion economy. “Moniepoint reflects the beauty of Nigeria’s multicultural identity,” he said, applauding the diverse team and the representation of women in leadership roles within the company.
The Vice President also urged Moniepoint to continue strengthening its auditing measures to prevent platform misuse, particularly by fraudsters. While celebrating Moniepoint’s achievements, he encouraged the company to remain vigilant in safeguarding the integrity of its services.
As part of Moniepoint’s broader efforts, the company has partnered with the Corporate Affairs Commission to onboard over two million businesses, with a target of reaching 30 million businesses in the next five years. The company’s launch of Nigeria’s Informal Economy Report in collaboration with SMEDAN and the Federal Ministry of Industry, Trade, and Investment highlights their commitment to advancing Nigeria’s informal economy, which significantly contributes to the nation’s GDP.
The visit marks a significant milestone in the ongoing partnership between the Nigerian government and private sector innovators like Moniepoint, who are crucial to advancing the country’s digital economy and financial inclusion agenda. The Vice President assured Moniepoint of his continued support, promising to champion the company’s growth and global visibility. NOVA Bank Achieves ISO 27032 Cybersecurity Certification
