The Minister of Foreign Affairs, Yusuf Tuggar, has hailed Moniepoint as representing the strength and value proposition of the Nigerian tech space.
According to Moniepoint on Monday, Tuggar said this when he visited its UK offices during his high-level working visit to the United Kingdom.
Formerly known as TeamApt Inc., Moniepoint was founded in Lagos in 2015 by Tosin Eniolorunda and Felix Ike and has rapidly grown into a comprehensive digital financial services provider with millions of users.
During his tour, Ambassador Tuggar lauded Moniepoint as a “true Nigerian success story,” emphasising its status as a “fintech unicorn with a multibillion-dollar valuation.
“Nigeria is in a vantage position in the fintech and financial services sector. With banks and fintechs operating across Africa, we must continue to instill confidence in Nigerian businesses as they expand globally. Moniepoint is a testament to the strength of Nigeria’s fintech ecosystem.”
The minister acknowledged the significant backing Moniepoint has received from global investors, including Google’s Africa Investment Fund, Visa, and BII, further validating its position as a leader in the fintech space. He stressed that a thriving fintech sector directly translates to more jobs, increased financial inclusion, and a stronger economy for Nigeria.
In his welcome remarks, the Chief Executive Officer of Moniepoint Inc., Tosin Eniolorunda, reiterated the firm’s commitment to powering the dreams of millions of business owners while engineering financial happiness for all Africans.
In his welcome remarks, the Chief Executive Officer of Moniepoint Inc., Tosin Eniolorunda, reiterated the firm’s commitment to powering the dreams of millions of business owners while engineering financial happiness for all Africans.
He said, “By empowering individuals and businesses with financial tools that are innovative and efficient, we believe that technology can be a powerful catalyst for economic growth and social development.
This visit by His Excellency, Ambassador Yusuf Maitama Tuggar, signposts the importance of cross-border collaboration and the strengthening of Nigeria’s global partnerships. We recognise the critical role that international cooperation plays in advancing innovation, especially within the fintech sector. As a country, Nigeria has immense potential, and through strategic alliances with global stakeholders, we can unlock new opportunities that benefit both local and international communities.
“At Moniepoint, we are deeply aligned with the Nigerian government’s vision to enhance strategic cooperation in areas like trade, investment, and technology. We are eager to continue contributing to the development of our country’s digital economy while fostering meaningful collaborations that will leave a lasting legacy for generations to come.”
Moniepoint’s market leadership has been acknowledged by several industry watchers and analysts.
“As the country’s largest merchant acquirer, it powers the majority of point-of-sale transactions, processing over one billion transactions monthly with a total payments volume exceeding $22bn. This enables countless small and medium-sized enterprises, particularly those in the informal sector, to digitise their operations and participate in the evolving African economy.”
