News
Moniepoint Managers Break Silence on $200M ‘Miraculous’ Fundraise Backed by DPI, Google, Visa, IFC & LeapFrog
Moniepoint Inc., Nigeria’s leading digital financial services provider, has announced the successful close of its Series C funding round, raising over $200 million in equity financing. The investment underscores the company’s rapid growth, sustained profitability, and strong impact in expanding financial inclusion across Africa.
The round was led by Development Partners International’s ADP III fund, with the final close anchored by LeapFrog Investments, a top-tier impact investor. Other high-profile participants include Google’s Africa Investment Fund, Visa, the International Finance Corporation (IFC), Proparco, Swedfund, Verod Capital Management, Lightrock, and Alder Tree Investments.
Moniepoint, formerly known as TeamApt, is now one of the few global fintechs — and the first in Africa — to achieve profitability at unicorn scale while driving inclusion for millions of underserved individuals and businesses. With over 10 million active users and an annual digital transaction value exceeding $250 billion, the company has cemented its status as a cornerstone of Africa’s digital economy.
Funding to Fuel Expansion and Innovation
According to Moniepoint, the new capital will support its next growth phase — enhancing services for micro, small, and medium-sized enterprises (MSMEs), expanding its presence across Africa, and venturing into new international markets.
The raise follows a period of strong momentum for the company, marked by the launch of MonieWorld, a remittance solution for the African diaspora in the UK, and a new integrated payment and bookkeeping platform for MSMEs. Moniepoint was recently named one of Africa’s fastest-growing companies by the Financial Times for the third consecutive year, and also featured in CNBC’s Top Global Fintech Companies 2025.
Executive and Investor Commentary
Moniepoint’s Group CEO and co-founder Tosin Eniolorunda called the raise a “proud day” for the company.
“We founded Moniepoint to widen financial inclusion and help African entrepreneurs realise their potential. The support from world-leading institutions is a powerful validation of that mission,” said Eniolorunda.
“We will deploy the funds strategically to build momentum in our next chapter — delivering financial happiness for Africans everywhere.”
Development Partners International (DPI), which led the initial close of the round in October 2024, reaffirmed its confidence in the fintech.
“Moniepoint continues to deliver innovation, scale, and profitability. We’re proud to back their leadership as they grow across Africa and beyond,” said DPI Partner Adefolarin Ogunsanya.
LeapFrog Investments Partner Karima Ola emphasized Moniepoint’s impact on African MSMEs:
“MSMEs are the heartbeat of African economies. Moniepoint empowers them with the tools they need to grow, employ others, and formalize operations.”
IFC’s Global Director for Disruptive Technologies, Farid Fezoua, highlighted the fintech’s role in digitizing informal retail:
“Moniepoint is transforming how MSMEs operate in Nigeria. With competitively priced point-of-sale devices and a modern digital platform, it enables growth and job creation in a cash-dominated sector.”
Continued Backing from Global Investors
The Series C round expands Moniepoint’s roster of global blue-chip investors, including QED Investors, Novastar Ventures, FMO, British International Investment, Global Ventures, Endeavor Catalyst, and New Voices Fund.
Financial Technology Partners acted as exclusive financial and strategic advisor to Moniepoint throughout the transaction.
Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint has evolved from building bank payment infrastructure to becoming Nigeria’s leading business banking platform, offering a full suite of financial services — including digital payments, business and personal banking, credit, and business management tools.
With this latest funding milestone, Moniepoint is poised to accelerate its mission to empower African businesses and individuals to achieve their financial dreams.
News
FG Launches Nationwide Training to Boost Livestock Extension Capacity
The Federal Ministry of Livestock Development has begun a three-day national capacity-building programme aimed at upgrading the technical skills of Livestock Extension Officers from all 36 states and the FCT.

The workshop focuses on strengthening field advisory services and harmonising extension communication across the country.
Declaring the event open in Abuja, the Permanent Secretary, Dr. Chinyere Ijeoma Akujobi, represented by the Director of Livestock Extension and Business Development, Mr. Joseph Ako, reaffirmed the Ministry’s commitment to building a modern and commercially viable livestock sector capable of driving food security and economic diversification.

She described livestock extension officers as central to the sector’s transformation agenda, noting that they serve as the crucial link between research institutions and rural farmers.

Earlier in his welcome remarks, Mr. Ako encouraged participants to take full advantage of the intensive training sessions and emphasised that improved professional capacity among extension workers will translate into better support for livestock farmers nationwide.

The programme is anchored on the National Livestock Growth Acceleration Strategy, which places strong emphasis on effective extension services as a core pillar for boosting productivity, expanding modern production systems and promoting sustainable livestock management practices.

Meanwhile, participants will receive training in key thematic areas such as Good Animal Husbandry Practices, animal welfare, feed and nutrition, disease management, biosecurity, waste management, One Health principles, breeding and reproduction, humane handling, housing, record keeping and participatory extension methods.

News
Osun PDP Congress: Thugs Arrested, Alleged Governor Makinde Mobilised Them
Scores of Hoodlums Arrested, confessed Governor Makinde mobilised them. Members of the Oyo state chapter of the Peoples Democratic Party (PDP) dominated today’s governorship primaries of the PDP held at Osogbo, investigation and eyewitness accounts at the venue have revealed.
Buses filled with PDP members were seen entering from both Iwo and Ikire end of Osun state last night and early this morning with many of the buses stopping at Adolak hotel, the venue of the congress.
A check through the hall revealed that Osun PDP members were not in attendance even though the Ibadan based zonal youth leader of the PDP was identified as the anchor mobilised of the Oyo state PDP members for the Osun Congress.
A chat with some of the individuals at the Congress confirmed that they were mostly from Oyo state with some of them actually confirming that they were recruited to attend.
The presence of Police men and women from Oyo state who provided security cover for the mobilised party members.
Some political thugs were however arrested and they narrated how they were mobilised from the Government House in Oyo state.
On why Oyo PDP members had to be mobilised for the Osun Congress, a party chieftain from Oyo state who was also present said “Osun PDP did not conduct the mandatory three adhoc delegates to vote at the Congress.
“ So we fill the vacancies with our people from Oyo state. We cannot allow PDP to die here. That is why we have to so mobilise”, the source noted.
News
President Tinubu Nominates Gen Christopher Musa as New Defence Minister
In a letter to Senate President Godswill Akpabio, President Tinubu conveyed General Musa’s nomination as the successor to Alhaji Mohammed Badaru Abubakar, who resigned on Monday.
President Bola Ahmed Tinubu has nominated General Christopher Gwabin Musa as the new Minister of Defence.
In a letter to Senate President Godswill Akpabio, President Tinubu conveyed General Musa’s nomination as the successor to Alhaji Mohammed Badaru Abubakar, who resigned on Monday.
General Musa, 58, on December 25, is a distinguished soldier who served as Chief of Defence Staff from 2023 until October 2025. He won the Colin Powell Award for Soldiering in 2012.
Born in Sokoto in 1967, General Musa received his primary and secondary education there before attending the College of Advanced Studies in Zaria.
He graduated in 1986 and enrolled at the Nigerian Defence Academy the same year, earning a Bachelor of Science degree upon graduation in 1991.
General Musa was commissioned into the Nigerian Army as a Second Lieutenant in 1991 and has since had a distinguished career.
His appointments include General Staff Officer 1, Training/Operations at HQ 81 Division; Commanding Officer, 73 Battalion;
Assistant Director, Operational Requirements, Department of Army Policy and Plans; and Infantry Representative/Member, Training Team, HQ Nigerian Army Armour Corps.
In 2019, he served as Deputy Chief of Staff, Training/Operations, Headquarters Infantry Centre and Corps; Commander, Sector 3, Operation Lafiya Dole; and Commander, Sector 3 Multinational Joint Task Force in the Lake Chad Region.In 2021, General Musa was appointed Theatre Commander, Operation Hadin Kai.
He later became Commander of the Nigerian Army Infantry Corps before being appointed Chief of Defence Staff by President Tinubu in 2023.
In the letter to the Senate, President Tinubu expressed confidence in General Musa’s ability to lead the Ministry of Defence and further strengthen Nigeria’s security architecture.
Bayo OnanugaSpecial Adviser to the President,(Information and Strategy)December 2, 2025
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