Monnify processed ₦25 trillion, or about $18.3 billion, in transaction quantity in 2025 as Nigerian companies continued to depend on digital fee infrastructure.
The fee gateway, which operates inside Moniepoint Inc.’s know-how arm TeamApt, recorded 38% progress in transaction quantity in contrast with 2023. The expansion got here throughout a interval marked by foreign money volatility, larger prices and stress on Nigeria’s digital fee programs.
Moniepoint was based as TeamApt in 2015 by Tosin Eniolorunda and Felix Ike. It now offers funds, banking, credit score and enterprise instruments to greater than 10 million companies and people.
Monnify shouldn’t be a consumer-facing app. It really works behind the scenes for greater than 100,000 retailers, connecting companies to 27 Nigerian industrial banks. Its purchasers embrace financial savings platforms reminiscent of PiggyVest and Cowrywise, commerce firms reminiscent of OmniRetail and Olam, transport operators together with GIGM and MAX, and establishments throughout training, utilities, cooperatives and authorities.
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The platform sits aside from Moniepoint MFB, which serves prospects via banking and retail merchandise. Monnify handles high-volume collections and disbursements for enterprises. Damilare Ogunnaike, vp of Monnify Cost Gateway, mentioned the ₦25 trillion milestone reveals the platform is turning into a core layer in how cash strikes in Nigeria’s digital financial system.
Key Takeaways
Monnify’s progress reveals that a number of the most essential fintech infrastructure in Nigeria is invisible to most customers. Customers may even see a fee web page, financial institution switch choice or pockets affirmation, however the underlying rails are sometimes dealt with by fee gateways that join retailers, banks and monetary platforms. Processing ₦25 trillion in a single 12 months reveals how giant that infrastructure layer has turn out to be. It additionally reveals the depth of Nigeria’s digital financial system, the place financial savings apps, transport corporations, retailers, colleges, utilities and authorities businesses all want dependable collections and payouts. Monnify’s place inside Moniepoint provides it entry to a wider monetary ecosystem whereas retaining its enterprise infrastructure position separate from Moniepoint’s shopper and enterprise banking companies. The problem shall be reliability at scale. As transaction volumes rise, fee suppliers should handle uptime, fraud, settlement delays, financial institution integrations, compliance and buyer assist. If Monnify can continue to grow whereas sustaining belief, it will probably stay a key backend layer for Nigerian companies.