Minister Of Foreign Affairs Visits Moniepoint UK Offices, Underscores Confidence On Nigeria’s Fintech Sector

Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar, paid a visit to the UK offices of Moniepoint Inc., a leading Nigerian financial institution, during his high-level working visit to the United Kingdom, signalling strong investor confidence and government support for the country’s thriving fintech sector.

The visit, which aimed to strengthen diplomatic ties and promote strategic cooperation between Nigeria and the United Kingdom, demonstrated Nigeria’s commitment to driving economic growth and innovation through its thriving fintech ecosystem.

Ambassador Tuggar concentrated on Moniepoint, highlighting the company’s remarkable growth and critical role in shaping Nigeria’s financial landscape.

During the tour, Ambassador Tuggar praised Moniepoint as a “true Nigerian success story,” noting its status as a “fintech unicorn with a multibillion-dollar valuation.”

He highlighted the company’s impressive growth, citing its 2000+ employees, thousands of salespeople, and the empowerment of millions of businesses through improved financial inclusion.

“Nigeria is a strong player in the fintech and financial services sectors,” Ambassador Tuggar stated. “With banks and fintechs operating across Africa, we must continue to foster trust in Nigerian businesses as they expand globally.

Moniepoint demonstrates the strength of Nigeria’s fintech ecosystem.

The Minister acknowledged Moniepoint’s significant backing from global investors such as Google’s Africa Investment Fund, Visa, and BII, which validates the company’s position as a fintech leader.

He emphasised that a thriving fintech sector directly leads to more jobs, greater financial inclusion, and a stronger Nigerian economy.

Moniepoint Inc. CEO Tosin Eniolorunda greeted the Minister and reaffirmed the company’s commitment to fuelling the dreams of millions of business owners while creating financial prosperity for all Africans.

He emphasised Nigeria’s dynamic digital landscape’s unique opportunities for harnessing technology to effect real change.

“We believe that by providing innovative and efficient financial tools to individuals and businesses, technology can serve as a powerful catalyst for economic growth and social development,” Eniolorunda stated.

“His Excellency Ambassador Yusuf Maitama Tuggar’s visit highlights the importance of cross-border collaboration and strengthening Nigeria’s global partnerships.”

Eniolorunda also highlighted the alignment between Moniepoint’s vision and the Nigerian government’s efforts to strengthen strategic cooperation in areas such as trade, investment, and technology. He pledged that the company would continue to contribute to the growth of Nigeria’s digital economy.

Moniepoint, the country’s largest merchant acquirer, processes over 1 billion transactions per month, with a total payment volume exceeding $22 billion.

This enables countless small and medium-sized enterprises (SMEs), particularly in the informal sector, to digitise their operations and participate in Africa’s evolving economy.

Moniepoint Inc. executives who attended the event included Felix Ike, Co-Founder and Chief Technology Officer; Didi Uwemakpan, Vice President, Corporate Affairs; Ross Strike, Senior Vice President, M&A & Investor Relations; Ravi Jakhodia, CEO of Moniepoint UK; and Bayo Olujobi, Chief Financial Officer of Moniepoint MFB.

Ambassador Tuggar was accompanied by notable dignitaries such as Dotun Olowoporoku, Managing Partner of Starta; Gbenga Ajayi, Partner and Head of Africa at QED Investors; and senior officials from the Nigeria High Commission in London and the Foreign Affairs Ministry.

This visit reinforces the message that Nigerian businesses are capable of not only achieving significant domestic success, but also expanding their footprint internationally, thereby contributing to the country’s economic development and global reputation.

Moniepoint, previously known as TeamApt Inc., has been named Africa’s fastest-growing fintech in 2023 and 2024 by the Financial Times of London, and it has received numerous awards for its financial inclusion initiatives. Founded in Lagos in 2015.

Moniepoint serves more than ten million businesses and individuals in Nigeria and Africa.