As the first solution in the country to seamlessly unify payments and bookkeeping in one tool, it is tailored for small to medium-sized businesses as well as multi-location enterprises, Moniebook combines robust software with reliable hardware, helping business owners streamline operations, boost efficiency, and empower business owners with data-driven insights for growth.

Moniebook provides business owners with a powerful suite of tools to manage inventory, track sales, process payments, foster customer relationships, and generate detailed reports from a single platform.

The core value proposition is to simplify complex business operations, reduce inefficiencies, and increase profitability for establishments. From supermarkets and restaurants to pharmacies and boutiques, the system empowers businesses to handle day-to-day tasks effortlessly, whether it’s preventing stockouts, managing staff roles, or tracking product expiry dates.

Speaking on the new product launch, Babatunde Olofin, managing director, Moniepoint MFB, said:

“Our mission has always been to help businesses grow by giving them the tools they need to succeed. This is in strong consonance with our mantra of creating financial happiness even as we consistently power the dreams of the millions of Nigerians who have come to love and trust the brand as an enabler of progress, as businesses or as individuals. Moniebook is engineered to be a growth partner for businesses – a holistic source of truth in the hands of every entrepreneur. By providing full visibility over sales, staff, customers, and inventory in real-time, we are giving business owners the control they need to scale efficiently and securely.”

With over 4,000 businesses onboarded and N19b processed in transaction value during the beta phase of Moniebook, business owners already using the product are singing its praises.

BBQ Chef, a retail entrepreneur, shared:

“I discovered through Moniebook that I had made over ₦2 million in my first month! It tracks my sales, manages inventory, and is so easy for my team to use. Honestly, any business not using Moniebook is missing out.”

Oluwole Adebiyi, Head of Product, Moniebook, added:

“We built Moniebook with the realities of Nigerian business owners in mind which begins with a deep understanding of their everyday challenges. For too long, small and medium-sized business owners have had to juggle multiple, disconnected tools to manage critical operations, from tracking inventory to processing payments and understanding their sales data. This complexity is a direct barrier to growth.

He continues,

“For us, whether you’re running a supermarket, a restaurant, or multiple retail outlets, you shouldn’t have to juggle five different systems. Moniebook gives you everything in one place – fast, secure, and scalable. By simplifying the complexities of running a business, we are freeing up entrepreneurs to do what they do best: serve their customers and grow their enterprises. This is another step in our commitment to fostering a thriving business ecosystem in Nigeria.”

Key features and benefits of the Moniebook platform include:

Inventory Management: Real-time stock monitoring with automated reordering and specialized expiry tracking to minimize waste and prevent stockouts.

Sales Tracking & Reporting: Comprehensive visibility into daily sales performance, customer behaviour, and staff metrics through detailed analytics and reports.

Integrated Payment Processing: Seamless transaction processing through Moniepoint terminals with support for credit sales, split payments, and discounts.

Multi-Location Management: Centralized control and monitoring of inventory, sales, and staff across multiple store locations from a single platform.

Staff & Role Management: Customizable user permissions and role assignments to control system access and streamline operations based on employee responsibilities.

Moniebook is available in two pricing tiers:

• Core (₦6,000/month) for small business operations and Pro (₦8,500/month) for advanced, multi-location enterprises.
• Optional add-ons, including extra registers, branches, and implementation support, make it scalable for growing businesses.

The yet to be released report has received generous support from the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.

The findings form part of the second edition of Nigeria’s Informal Economy Report, which Moniepoint is set to officially launch today, Friday, October 17, 2025, at the Abuja Continental Hotel.

Nigeria’s informal economy is the backbone of the nation’s livelihood, accounting for over 80% of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.

According to Moniepoint, the Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that strengthen and formalise informal enterprises.

“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Babatunde Olofin, managing director of Moniepoint Microfinance Bank, in a statement ahead of the launch.

The event is expected to attract senior government officials, regulators, lawmakers, industry leaders, trade associations, academics, civil society, and development organisations. It will feature keynote addresses, panel discussions, and presentations of the study’s findings, with participants exploring strategies to create a more inclusive and sustainable economic landscape.

The Informal Economy Report 2025 follows the success of the inaugural edition, which received commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.

The referral program has launched the resumption of new customer onboarding with a programme designed to reward users every time their friends or family perform a transaction on Moniepoint after signing up with their referral link.

Through this, millions of people will earn well over N100,000 from referrals alone. 

Moniepoint’s technology has powered over 3 million businesses across Nigeria, and with its reliable infrastructure now in the hands of personal users, it now enables seamless payments for many across the country.

With referrals linked to transfers, a leading payment method for many in Nigeria, this referral program will provide extra income for many of its users.

Commenting on this development, Babatunde Olofin, managing director of Moniepoint MfB, noted that the customer-centric referral program supports the bank’s focus on driving financial inclusion while helping to accelerate its vision of creating a society where everyone experiences financial happiness.  

“We know how important seamless financial transactions are, and we’ve seen first-hand the power of peer-to-peer recommendations and how word-of-mouth referrals can grow a customer base and increase revenue. Given our strong customer obsession and the strings of commendations which we have received that validate the work we do in providing peerless financial services, we want to provide our customers with rewards even as they continue to share these positive experiences with the Moniepoint brand,” Olofin said.

Each current and new personal account holder has been provided with a unique referral code which is identical to their account username and is visible in the Referral Section on the Personal Banking app.

This code/link can be shared with anyone, who, upon signing up and transacting with the Moniepoint Personal Banking app, will contribute to rewards for the referrer. 

For every outward interbank transaction conducted by referred customers in the next 12 months, participants will receive a commission. This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.

Referrers can also track the total earnings and referral history from their referral in the “Earn from Referrals” icon in the app while earnings can be transferred to the user’s main account once a minimum of N50 has been earned.

Moniepoint MFB has worked with the Central Bank of Nigeria to strengthen the security of the banking industry in the past month, pausing its onboarding. It has now resumed signing up users with a commitment to providing its users with a secure, convenient and rewarding financial experience.

The referral program is just one of the many ways the company is innovating to empower Nigerians and make financial services more accessible. 

It will be recalled that Moniepoint MFB has in the last few months demonstrated peerless commitment to customer focus and satisfaction as evidenced by the opening of its Lekki Admiralty Road office, as well as the rollout of a USSD code, *5573# which offers users a fast, secure, and user-friendly platform to conduct their banking activities with ease. 

According to media reports, Moniepoint Inc. currently processes the majority of the Point of Sales (POS) transactions in Nigeria through its subsidiaries, processing over $182 billion in annualized TPV and as a profitable enterprise, it is Africa’s largest fintech by transaction volume.

The hallmark of banking is customer satisfaction as such organizations that consistently invent new ways to meet consumer needs, and ensure that they are well catered to are viewed as exemplars.

In a move aimed at enhancing customer satisfaction while providing more outlets for addressing customers’ enquiries and requests, the definitive bank for small and medium-sized businesses in Nigeria, as well as their customers and employees, Moniepoint Microfinance Bank has announced the opening of a new office in Lagos.

The new office which is situated on Admiralty Road in the Lekki area of Lagos follows from the relocation of its MFB office from Oyo-Ibadan Rd to Lagos.

The new Moniepoint MFB office offers a full suite of banking services that cater to the essential financial needs of its customers, empowering them to truly live productive lives.

Commenting on the development, Babatunde Olofin, the managing director, Moniepoint MFB, noted that the Bank’s visionary commitment to ensuring the creation of a society where everyone experiences financial happiness and they are sufficiently empowered to bring their dreams to fruition adding that the new branch is in strong alignment with this proposition  which alongside its  other core digital banking channels, plays a key role in how the financial institution serves and provide solutions to customers across the country.

“As we consistently bolster our digital capabilities, we recognize that physical sites remain an important touchpoint for many customers, who relish the trust, inter-personal touch and clarity at face-to-face conversations which our amazing customer service personnel provide. As such, creating connected experiences – physical and digital to provide access to best in class banking services affords us the privilege to deliver customer satisfaction and drive our business growth even as we strive to meet and surpass the expectations of our stakeholders,” he said.

Olofin reiterated that at the heart of Moniepoint’s success are its highly esteemed customers and that judging from feedback, testimonials, as well as the huge adoption of its products and services, the Bank is poised and well positioned to deliver more quality and value-adding banking services.

It will be recalled that Moniepoint MFB recently launched a USSD code,*5573# to offer customers a fast and user-friendly platform for consumers to carry out their banking activities safely and securely.

This is in addition to a partnership that has been forged with the Corporate Affairs Commission (CAC) to digitize over 30 million MSMEs in the next 5 years with a view to enabling them to contribute more meaningfully to job creation and national growth.

This service, accessible via the account control code *5573#, offers a fast, secure, and user-friendly platform for consumers to conduct their banking activities with ease, from any mobile device without the need for an internet connection.

This move is expected to increase convenience and accessibility whilst showcasing the bank’s commitment to financial inclusion and enhancing safety and security across the digital payment ecosystem.

The USSD Banking suite includes a variety of services such as Funds Transfer, Airtime and Data Purchase, Account Balance and Details Inquiry, PIN Management, and Account Security Measures like Blocking/Unblocking access for oneself or others.

The introduction of *5573# is a security measure against unauthorized access, safeguarding customer funds in case of loss or theft of mobile phones, ATM Cards, or hardware tokens, and in situations where account details may be compromised.

This code empowers customers to secure their accounts promptly from any mobile device, without needing to contact the bank, especially in cases of suspected fraud.

“At Moniepoint MFB, our top priorities are delivering exceptional customer service through digital innovation and ensuring the highest security standards,” said Babatunde Olofin, Managing Director, Moniepoint MFB. “Our new USSD service provides the convenience of mobile banking with an added layer of security that gives customers control over protecting their accounts, even by using a third-party mobile device.”

He continued,

“we have always been guided by our mission to create a society where everyone experiences financial happiness, and in these times, what that looks like for us is increasingly empowering consumers to take charge over their bank accounts, even as we curate a seamless and secure banking experience. In addition, we have always spoken about our commitment in supporting the central bank’s financial inclusion agenda, with this feature, customers, especially the least digital-savvy ones, irrespective of their location have now been eminently positioned to carry out a wide range of transactions effortlessly.”

Existing customers, encompassing business and personal accounts, can initiate transactions and manage their accounts, by navigating to USSD Banking settings on their mobile banking app in order to activate this feature while new users will have the feature activated by default upon sign up.

It will be recalled that in 2022, Moniepoint MFB received an award from the CBN as the most inclusive payment platform in the country.

Moniepoint MFB helps over 3 million people and businesses with banking, payments processing, access to loans and business management tools with a view to powering their dreams.

Moniepoint MFB has established a solid reputation for reliable service, synonymous for innovation, and a deep commitment to delivering value added solutions in the Nigerian market.

The bank said the gesture is Iin tandem with the spirit of giving, generosity and goodwill that defines the Christmas season.

With close to two million businesses leveraging Moniepoint MfB’S reliable and robust infrastructure in accessing payments, credit and business management tools that they need to grow, this exciting referral program is designed to reward Business Owners and Moniepoint agents who can earn up to N100,000 or more during the course of this campaign by actively referring Moniepoint personal banking app to their customers.

According to Babatunde Olofin, the managing director, Moniepoint MfB, a definitive bank for small and medium-sized businesses in Nigeria, as well as their customers and employees;

“At the heart of Moniepoint’s success are our valued customers, and this initiative is a heartfelt expression of gratitude for their trust, loyalty, and transactions. It is also about exemplifying the Bank’s mantra of powering dreams and our visionary resolve to create a society where everyone experiences financial happiness.”

Leveraging the bank’s credentials as a leading innovator in the financial services space, the personal banking services extend its reliable banking infrastructure from the businesses it serves to their customers and employees and provide them with solutions that help them live productive lives as they manage their finances better.

Furthermore, speaking to the import of the initiative, Olofin added that “in rewarding customers for their loyalty, we want to make it possible to let customers introduce our peerless and trusted digital banking experience to their customers while earning rewards in a fun way. Our personal banking services break the stereotype of banking services in people’s mind, and we’d like to encourage them to find joy in their financial journey.”

On the mechanics of the Refer and Earn initiative, participants have a unique referral code/link accessible through the Referral Section on the Moniepoint Business Banking app.

This code/link can be shared with customers, who, upon signing up and transacting with the Moniepoint Personal Banking app, will contribute to rewards for the referrer.

For every outward interbank transaction conducted by referred customers in the next 12 months, participants will receive 4 naira.

This transparent and straightforward incentive structure ensures that participants reap tangible benefits for actively promoting the Moniepoint Personal Banking app.

This win-win collaborative exercise is easily accessible to all Moniepoint business owners via the app which makes it convenient to share and track their referrals.  To ensure clarity and transparency, Moniepoint MfB prioritizes open communication and encourages participants to provide feedback to enhance the program.

Industry watchers and analysts see this move as one that contributes to the growth of the Moniepoint user community as it encourages word-of-mouth marketing, leveraging the trust and influence of existing customers to expand the reach of the Moniepoint Personal Banking app.

It will be recalled that Moniepoint MfB only recently announced its foray into the personal banking segment with an app that will enable users to make transfers, pay bills and buy airtime, while its debit cards can be used at ATMs, POS terminals, and online.

Merchants will also benefit from seamless transactions when customers use Moniepoint cards.

Moniepoint’s personal banking services is creating a pathway for the deployment of seamless and reliable digital payment solutions for Nigerians especially those in underserved communities even as there is a groundswell of evidence worldwide which shows that access to financial services contributes both to economic growth and wealth creation.

In a significant stride towards supporting the Central Bank of Nigeria’s ambitious goal of achieving 95 per cent financial inclusion by 2024, Moniepoint Microfinance Bank has expanded its services into the personal banking segment.

This strategic move aims to expedite and improve access to diverse, affordable, and tailored financial services that cater to the distinctive needs and circumstances of individuals, as well as small and medium-sized businesses across Nigeria.

Buoyed by its experience and emergence as the definitive bank for small and medium-sized businesses in the country with over 1.6 million organizations leveraging Moniepoint’s payments, credit and business management tools for socioeconomic growth and stability, the bank is committed to aggressively deploying its technical knowhow to guarantee reliability for people that are not included in recognition of the transformative potential that broader financial access holds for all strata of society.

At a recent conversation in Lagos around financial inclusion, Babatunde Olofin, Acting Managing Director, Moniepoint MFB, expressed his enthusiasm about the bank’s expanded role in the financial inclusion drive and the opportunity to power the financial happiness of millions of people across the continent.

He also stated the bank’s credentials as a leading innovator in the fintech space having pioneered several products and technologies – dynamic transaction switching, hyperlocal distribution network, virtual account service and instant PoS bank transactions.

“We have powered the dreams of a lot of business owners, and we know what individuals need. We want to include everyone from the regular Okada rider, the market woman in the financial services space. We have built our infrastructure in such a way that it is a very elastic. As transactions grow, we are able to expand our infrastructure and this is because we have several monitoring tools that help us to monitor how transactions are growing. Also, in every nook and cranny of the nation, we have our business relationship reps. Even in localities where there is no physical bank or ATM presence, you’ll find our precious blue boxes there.”

Olofin also took the audience on an enthralling journey through the organization’s structure, delineating the relationship between Moniepoint MFB, TeamApt and the holding company, Moniepoint Inc that has birthed a robust and reliable digital payment infrastructure that has carried out an average monthly transaction value of $12billion for about 1.6million businesses. 

In furtherance of curating an enjoyable user experience for consumers and powering the dreams of many, the bank also announced a gamified in-app approach that will see thousands of users win N2,000 weekly and a grand prize of 10million naira.

Ope Adeyemi, Senior Vice President, Channels and Sales tools, described this innovative touchpoint as an incentivizing tool for deepening financial inclusion.

“We want to supercharge financial inclusion because we realize that if you want to drive behavioural change and increase adoption, you should reward consistently good behaviour. Consumers are rewarded with coins on our personal banking app after they carry out transactions, and these coins allow them take part in exciting weekly games such as Shuffle, Spin the Wheel.”

Moniepoint believes firmly that financial inclusion is a commitment to uplift communities, nurture businesses, and enrich individual lives.

By embracing the diversity of Nigeria’s economic landscape, Moniepoint MFB is positioned to facilitate sustainable development and prosperity for all as it continues its leading role as a driver of progress and shared prosperity.