Nigeria: Moniepoint doubles down on financial inclusion with agent-led growth strategy

Moniepoint Microfinance Bank has reaffirmed its commitment to advancing financial inclusion, positioning its agency banking model as a key driver of value creation across Nigeria’s financial ecosystem.

The bank said it is evolving beyond traditional service delivery to function as a critical technology backbone for the real economy, with solutions tailored to the operational realities of small businesses and informal market participants.

According to Senior Vice President, Distribution Network Sales, Ezekiel Sanni, the next phase of agency banking growth will depend less on scale and more on the depth of engagement, trust, and tangible value delivered to agents and merchants.

He noted that the bank’s strategy is centred on supporting business growth at the grassroots level by integrating financial services with tools such as inventory management and access to working capital.

This approach, he explained, ensures that financial inclusion translates into real economic empowerment for entrepreneurs, rather than merely expanding access to payment services.

A key differentiator in Moniepoint’s model is its hybrid structure, which combines robust digital infrastructure with a strong physical support network. Dedicated field managers provide hands-on, continuous engagement with agents—offering operational guidance, resolving issues in real time, and building long-term partnerships.

This proximity-driven model also enhances capabilities in critical areas such as fraud detection and regulatory compliance, including anti-money laundering practices.

Sanni emphasised that sustained interaction with agents allows the bank to move beyond transactional relationships to capability development, strengthening the overall resilience of its network.

The bank’s operational scale further reinforces its market position, with Moniepoint reportedly enabling a significant share of in-person payment transactions nationwide, driven by reliability, speed, and efficient settlement cycles.

Reiterating its outlook, the bank described agency banking as essential infrastructure for economic participation and pledged continued investment in its ecosystem to support small businesses and drive inclusive growth across Nigeria.