March 10, (THEWILL) – Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has commended Moniepoint Inc., a leading Nigerian fintech company, for its significant contributions to financial inclusion and job creation.
Tuggar, who visited Moniepoint’s UK office as part of his high-level working visit to the United Kingdom, highlighted the company’s impressive growth, citing its over 2,000 employees, thousands of sales personnel, and its empowerment of millions of businesses through innovative financial solutions.
The visit, aimed at strengthening diplomatic and economic ties between Nigeria and the UK, showcased Moniepoint as a key player in Nigeria’s fintech ecosystem.
Tuggar described the company as a “true Nigerian success story” and a “fintech unicorn with a multibillion-dollar valuation.”
He stated, “Nigeria holds a strong position in the fintech and financial services sector,” Tuggar said. “With banks and fintechs expanding across Africa, we must continue to instill confidence in Nigerian businesses as they grow globally. Moniepoint exemplifies the strength of our fintech ecosystem.”
He further noted that Moniepoint’s success, backed by global investors such as Google’s Africa Investment Fund, Visa, and British International Investment (BII), underscores its leadership in the fintech space.
According to the minister, a thriving fintech sector translates into job creation, increased financial inclusion, and a stronger Nigerian economy.
Welcoming the delegation, Moniepoint Inc. CEO, Tosin Eniolorunda, reaffirmed the company’s commitment to supporting millions of business owners and driving financial prosperity across Africa.
He emphasised that Nigeria’s evolving digital landscape presents opportunities to harness technology for economic transformation.
Eniolorunda said, “By providing businesses and individuals with innovative financial tools, we believe technology can be a catalyst for economic growth and social development.
“Ambassador Tuggar’s visit highlights the importance of cross-border collaboration and Nigeria’s growing global partnerships. Through strategic alliances, we can unlock new opportunities that benefit both local and international communities.”
He added that Moniepoint aligns with the Nigerian government’s vision to enhance cooperation in trade, investment, and technology, pledging the company’s continued support for the country’s digital economy.
Moniepoint’s industry dominance is well recognized, with the company serving as Nigeria’s largest merchant acquirer. It processes over one billion transactions monthly, with a total payments volume exceeding $22 billion, enabling countless small and medium-sized enterprises (SMEs) to digitize their operations.
Present at the event were key Moniepoint executives, including Co-Founder and Chief Technology Officer, Felix Ike; Vice President, Corporate Affairs, Didi Uwemakpan; Senior Vice President, M&A and Investor Relations, Ross Strike; CEO, Moniepoint UK, Ravi Jakhodia; and Chief Financial Officer, Moniepoint MFB, Bayo Olujobi.
The minister was accompanied by dignitaries such as Dotun Olowoporoku, Managing Partner at Starta; Gbenga Ajayi, Partner and Head of Africa at QED Investors; senior officials from the Nigerian High Commission in London, and representatives from the Ministry of Foreign Affairs.
The visit underscored Nigeria’s growing presence in the global fintech space, reinforcing the message that local companies are not only achieving domestic success but also expanding their footprint internationally.
Founded in Lagos in 2015 as TeamApt Inc. by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved into a full-scale digital financial services provider, offering payments, banking, credit, business management tools, and cross-border payment solutions to over 10 million businesses and individuals across Nigeria and Africa.
Anthony Awunor, is a business correspondent who holds a Bachelor of Arts Degree in Linguistics (UNILAG). He is also an alumnus of the Nigerian College of Aviation Technology (NCAT), Zaria Kaduna State. He lives in Lagos.
