By Ed Malik, A | ed@ddnewsonline.com | posted november 27th, 2024
The Federal Government has commended Monie-point Inc., recognized as Africa’s fastest-growing financial institution, for its remarkable achievements in the financial technology sector, its unwavering dedication to advancing financial inclusion, and its proactive collaborations with law enforcement agencies to combat financial fraud.
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During a visit from the Moniepoint team, CEO Tosin Eniolorunda expressed his appreciation to the Vice President, Senator Kashim Shettima, for prioritizing digital innovation and financial inclusion. He underscored Moniepoint’s significant role in transforming Nigeria’s financial ecosystem, celebrating its recent designation as Africa’s latest unicorn—a milestone achieved through resilience and groundbreaking innovation.
Mr. Eniolorunda highlighted Moniepoint’s impactful contributions, which include offering accessible digital banking solutions to millions, particularly in underserved communities, and empowering small and medium-scale enterprises (SMEs). Furthermore, he detailed the company’s robust partnerships with agencies such as the Nigeria Police Force, the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC). These collaborations leverage intelligence-driven technology to combat financial fraud and enhance public confidence in the digital payment system.
“At Moniepoint, we are big believers in driving collaborations across the entire eco-system and this is premised on collaboration being the cornerstone of progress. Our engagement here underscores our intentionality to enhance government to business relationship in a way that powers the dreams of millions of many more Nigerians. Together, we can unlock opportunities, transform lives, and build a more inclusive economy for all”, Eniolorunda said.
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The Moniepoint’s management team that visited Vice President Shettima, was led by its Chief Executive Officer, Tosin Eniolorunda. Other members of the Moniepoint delegation included, Babatunde Olofin, MD Moniepoint Microfinance Bank; Didi Uwemakpan, Vice President, Corporate Affairs, Moniepoint Inc; Ross Strike, SVP, Investor Relations and M&A; Efemena Ogie, Head of Partnerships; Abdulmumin Tijjani, Regional Manager, North West; and Ravi Sharma, Partner, Lightrock Global – a global private equity and investors in Moniepoint Inc.
During the course of the visit, CEO, Moniepoint Inc, Tosin Eniolorunda expressed gratitude to the Vice President for making time to meet with the team, underscoring the administration’s dedication to digital innovation and financial inclusion. He emphasized Moniepoint’s commitment to Nigeria’s financial ecosystem, stating that the fintech giant has grown into Africa’s latest unicorn this year, a testament to its resilience and innovation.
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He detailed Moniepoint’s contributions to financial inclusion, including providing digital banking solutions to millions of Nigerians, particularly underserved communities, and empowering small and medium-scale enterprises (SMEs). Highlighting their robust collaboration with law enforcement agencies such as the Nigeria Police Force, the Nigerian Financial Intelligence Unit (NFIU), and the Economic and Financial Crimes Commission (EFCC), Mr. Eniolorunda reiterated Moniepoint’s commitment to using intelligence-driven technology to fight financial fraud and strengthen trust in the digital payment system.
“At Moniepoint, we are big believers in driving collaborations across the entire eco-system and this is premised on collaboration being the cornerstone of progress. Our engagement here underscores our intentionality to enhance government to business relationship in a way that powers the dreams of millions of many more Nigerians. Together, we can unlock opportunities, transform lives, and build a more inclusive economy for all”, Eniolorunda said.
The Vice President congratulated the Moniepoint team on achieving unicorn status, lauding their innovative approach to leveraging technology to solve financial challenges. He acknowledged the company’s impressive growth trajectory, its workforce of over 3,000 employees, and its contribution to the country’s vision of building a $1 trillion economy.
He highlighted the diversity of Moniepoint’s team, describing it as a “kaleidoscope of colors” and reflecting the beauty of Nigeria’s multicultural and multi-regional identity. He commended the inclusivity in the company’s employment policy which draws from various regions and backgrounds, including a notable representation of women in leadership and operational roles.
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Shettima urged the company to expand its global footprints, referencing his ongoing support for similar initiatives such as Amal Hassan’s Outsource to Nigeria project. He assured the Moniepoint team of his relevant support, promising to be their “chief promoter” in advancing the brand’s visibility on the global stage.