Moniepoint named SME Microfinance Bank of the Year for third straight time

Moniepoint Microfinance Bank has taken the SME Microfinance Bank of the Year prize for a third year running, at the 14th BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

The bank's co-founder and Group Chief Executive Officer, Tosin Eniolorunda, also won SME Finance Transformation Leader of the Year at the same event.

For the many Nigerians who run shops, market stalls and online businesses, the awards point to a lender that has become one of the main routes small firms use to borrow money and collect payments.

What the numbers say

In its 2025 Year in Review, Moniepoint said its microfinance bank lent more than ₦1 trillion to thousands of small businesses last year.

The company said borrowers' average transaction value rose by over 36 per cent after they got the loans. It did not say how much of that growth came directly from the borrowing.

Moniepoint also reported handling more than 14 billion transactions worth ₦412 trillion in 2025, and said it serves over six million active businesses. The bank calls itself the country's largest merchant acquirer and says it handles eight of every 10 in-person payments in Nigeria.

Instead of relying only on traditional collateral, the bank sizes up borrowers using alternative data — transaction records, how a business runs and how it pays — so firms without formal paperwork can still be assessed.

Ezekiel Sanni, Senior Vice President, Distribution Network Sales at Moniepoint, stood in for Eniolorunda at the ceremony. He said the recognition would push the bank to keep widening access to credit and strengthening the network that serves small businesses.

"Small businesses are the backbone of the Nigerian economy," Sanni said, adding that the bank would keep investing so more businesses across the country can grow with confidence.

The BAFI Awards, organised by BusinessDay, recognise performance, innovation and leadership in Nigeria's financial sector. The 2026 edition handed out 67 awards across payments, lending, investment management, capital markets, insurance, pensions and trusteeship.

Moniepoint has also received other recognitions this year, including Best Financial Institution in Women Empowerment from the Association of Professional Women Bankers.

What happens next

Moniepoint says it will keep expanding credit access and its distribution network. For small business owners, that could mean more places to borrow and to collect payments — though the cost of any loan still matters, and borrowers should check the terms before signing.