Tech Insight
Moniepoint doubles down on agency banking dominance
By: Amarachi Okonkwo
Moniepoint Microfinance Bank has reaffirmed its dominance in Nigeria’s agency banking landscape, positioning its service-driven model as a key enabler of sector-wide growth while pledging to deepen value creation across the broader financial ecosystem.
The bank said it is moving beyond traditional financial service delivery to establish itself as a critical technological backbone for the real economy, with solutions tailored to the complexities of Nigeria’s commercial environment.
Speaking on the institution’s evolving strategy, the Senior Vice President, Distribution Network Sales, Ezekiel Sanni, emphasised that sustainable growth in agency banking must be anchored on consistent enterprise support, trust, and tangible economic value for agents and merchants.
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“Our goal is to transcend traditional transaction processing by becoming a fundamental partner in the daily growth of small businesses,” Sanni said.
“By providing tools for inventory management and access to working capital alongside seamless payment solutions, we are ensuring that financial inclusion translates into real economic empowerment for the average Nigerian entrepreneur.”
He noted that the next phase of growth in the agency banking sector would be driven less by expansion in reach and more by service quality and depth of engagement with stakeholders.
“At Moniepoint MFB, we have built a model that prioritises not just access, but meaningful and consistent local support for the merchants and communities we serve,” he added.
Central to this strategy is the deployment of dedicated field-based relationship managers who offer hands-on, day-to-day operational support. Unlike conventional models where engagement often tapers off after onboarding, the bank maintains continuous interaction with its agent network to address challenges, improve efficiency, and foster long-term partnerships.
By integrating robust digital infrastructure with a strong physical presence, Moniepoint has developed a hybrid service model that enables faster issue resolution while also providing mentorship in critical areas such as fraud prevention and Anti-Money Laundering (AML) compliance.
“When you are close to the agent, you are better positioned to move beyond service provision to actual capability building,” Sanni said.
The bank’s operational metrics underscore its scale and influence within the ecosystem, with Moniepoint reportedly powering eight out of every 10 in-person transactions nationwide. According to the company, this performance is driven by system reliability, rapid transaction processing, and efficient settlement cycles.
Reinforcing its outlook, the bank described agency banking as essential infrastructure for expanding economic participation, adding that it will continue to strengthen its locally built platform to support businesses and keep Nigeria’s real economy active.
