Our attention has been drawn to several erroneous and misleading reports in the media about recent policy changes in the payment services space. Moniepoint MFB is a CBN-licensed Microfinance Bank, and as such, we are a deposit-taking financial institution.

There have been no disruptions to our services even as customers have continued to make and receive payments via our personal and business banking apps.

Moniepoint Inc. is a global digital financial services provider that invests in Nigeria and other emerging markets. In Nigeria, it is the parent company of two subsidiaries, TeamApt Limited, a Central Bank of Nigeria(CBN) licensed Switch and Processor, and Moniepoint Microfinance Bank, a CBN-licensed Microfinance Bank.

TeamApt Ltd doesn't hold deposits and payments as it is a switching infrastructure company that facilitates payment processing.

We remain committed to driving financial inclusion in accordance with the existing regulatory framework and we'll continue to work tirelessly to power the dreams of the millions of businesses and individuals.