Tuggar hails Moniepoint as a Nigerian Fintech success story during UK visit

The Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, has lauded Moniepoint Inc. as a “true Nigerian success story” during a high-profile visit to the company’s UK office.

The visit, part of Tuggar’s diplomatic mission to the United Kingdom, highlighted Nigeria’s commitment to fostering innovation, strengthening investor confidence, and expanding strategic international partnerships.

His engagement with Moniepoint underscored the company’s remarkable rise as a fintech leader, driving financial inclusion and economic empowerment across Africa.

Describing Moniepoint as a “fintech unicorn with a multibillion-dollar valuation,” Ambassador Tuggar praised its rapid expansion, citing its workforce of over 2,000 employees and thousands of sales personnel.

He emphasised the company’s impact on millions of businesses through its financial solutions, positioning it as a key player in Nigeria’s evolving 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 instil confidence in Nigerian businesses as they scale globally. Moniepoint exemplifies the strength and resilience of Nigeria’s fintech ecosystem,” he added.

Tuggar also acknowledged Moniepoint’s backing from leading global investors, including Google’s Africa Investment Fund, Visa, and British International Investment (BII).

He noted that the company’s growth is not only a testament to Nigeria’s innovative potential but also a driver of job creation and financial inclusion.

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.”

He added that Moniepoint remains committed to supporting the Nigerian government’s agenda for trade, investment, and digital transformation, ensuring that the country’s fintech sector continues to thrive on the global stage.

Moniepoint’s dominance in Nigeria’s financial sector has been widely acknowledged, 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 digitise their operations and drive economic participation.

The minister 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.

Founded in 2015 as TeamApt Inc. by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved into a full-fledged digital financial services provider, offering payments, banking, credit, business management tools, and cross-border payment solutions to over 10 million businesses and individuals across Afric