A Fintech Unicorn with Global Impact
Describing Moniepoint as a “fintech unicorn with a multibillion-dollar valuation,” Ambassador Tuggar praised the company’s rapid growth, which includes a workforce of over 2,000 employees and thousands of sales personnel. He highlighted Moniepoint’s role in empowering millions of businesses through its financial solutions, positioning it as a key player in Nigeria’s digital economy.
“Nigeria stands at a vantage position in fintech and financial services,” Tuggar stated. “With our banks and fintechs expanding across Africa, we must continue to instill confidence in Nigerian businesses as they scale globally. Moniepoint exemplifies the strength and resilience of Nigeria’s fintech ecosystem.”
Global Backing and Economic Impact
Tuggar also acknowledged Moniepoint’s support from leading global investors, including Google’s Africa Investment Fund, Visa, and British International Investment (BII). He emphasized that the company’s growth not only showcases Nigeria’s innovative potential but also drives job creation and financial inclusion.
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| L- R Co-Founder and Group CEO, Moniepoint Inc, Tosin Eniolorunda and Minister of Foreign Affairs, Ambassador Yusuf Tuggar 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. |
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| 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. |
Moniepoint’s Commitment to Innovation
Welcoming the Minister, Moniepoint CEO Tosin Eniolorunda reaffirmed the company’s mission to empower millions of businesses and individuals through cutting-edge financial solutions. He described the visit as a recognition of Nigeria’s rising prominence in global fintech and the importance of cross-border collaboration.
“Technology is a powerful catalyst for economic growth and social development,” Eniolorunda said. “Ambassador Tuggar’s visit underscores the role of international cooperation in advancing fintech innovation. Nigeria has immense potential, and through strategic global alliances, we can unlock new opportunities that will benefit local and international economies alike.”
Dominance in Nigeria’s Financial Sector
Moniepoint’s dominance in Nigeria’s financial sector is widely recognized, with the company processing over one billion transactions monthly, amounting to a total payments volume exceeding $22 billion. As Nigeria’s largest merchant acquirer, Moniepoint powers the majority of Point-of-Sale (POS) transactions, enabling small and medium-sized enterprises (SMEs), particularly in the informal sector, to digitize their operations and drive economic participation.
A Vision for the Future
Founded in 2015 as TeamApt Inc. by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved into a full-fledged digital financial services provider. The company now offers payments, banking, credit, business management tools, and cross-border payment solutions to over 10 million businesses and individuals across Africa.
Ambassador Tuggar was accompanied on the visit by key government officials and industry leaders, including Dotun Olowoporoku, Managing Partner at Starta, and Gbenga Ajayi, Partner and Head of Africa at QED Investors, alongside senior officials from the Nigeria High Commission in London and the Ministry of Foreign Affairs.