L-R: Dennis Ajalie, Chief Executive Officer, TeamApt Limited (a subsidiary of Moniepoint Inc.); Tunji Andrews, Chief Executive Officer, Awabah; Uche Uzoebo, Chief Executive Officer, Shared Agent Network Expansion Facilities (SANEF); and Ifeanyi Duru, Senior Vice President, Enterprise Network Sales, Moniepoint Inc. at the announcement of the TeamApt-Awabah partnership during the Awabah Agent App Launch in Abuja.
TeamApt Limited, a subsidiary of Moniepoint Inc. and leading financial infrastructure provider, has partnered with Awabah, the National Pension Commission’s first licensed Accredited Pension Agent, to transform pension accessibility for millions of Nigerians in the informal economy.
This was announced at the launch of Awabah’s novel agent license in Abuja, under the theme ‘Building Financial Resilience: Securing the Future with Personal Pensions.’
The partnership addresses a critical gap in the informal sector outlined by Omolola Oloworaran, Director-General of PenCom, at the launch. She stated that although Nigeria’s pension assets have grown to over N27 trillion, the gains have largely benefited formal-sector workers, while the informal sector, which represents the majority of Nigeria’s workforce, mostly retires without any savings. Similarly, Moniepoint’s 2025 Informal Economy Report echoes this reality that 65% of informal businesses report revenue growth, yet most lack the structural sustainability needed for succession.
Through this collaboration, TeamApt, a CBN-licensed switching and processing company, will enable seamless pension onboarding and contributions via Point of Sale (POS) terminals across Nigeria for Awabah users through its Direct Debit service. Workers can register for personal pensions with simple clicks, tokenize their cards for recurring contributions, and set up automatic periodic deductions.
This transforms pension savings from a complex, bureaucratic process into a simple, everyday transaction, allowing business owners to build long-term financial security beyond their active working years.
“When we started Awabah, we were driven by a single idea: that no African worker should be one mishap away from poverty,” said Tunji Andrews, CEO of Awabah. “Our partnership with TeamApt makes this vision achievable at scale. Their Direct Debit service and extensive POS network enable us to meet informal workers where they are – at the market stall, the mechanic workshop, the roadside kiosk, and so on. For only a small token per period, workers can now access personal pensions bundled with health insurance, accident cover, and life insurance, all through the same POS terminals they use every day.”
Dennis Ajalie, CEO of TeamApt, emphasised the alignment with TeamApt’s mission: “At TeamApt and Moniepoint Inc., we have always been laser-focused on powering the informal economy. Today, in line with the permissible activities of our license category and in conjunction with our co-subsidiary, Moniepoint MFB, we operate in all 774 local government areas in Nigeria, serving millions of businesses and individuals who form the backbone of our economy. This partnership with Awabah represents exactly the kind of transformative financial infrastructure our country needs. Together, we will spread the gospel of pension inclusion, ensuring that every Nigerian worker, regardless of their employment status, can build a secure financial future.” Ajalie also acknowledged the leadership of the Director General of PenCom, Omolola Oloworaran, adding, “I want to commend the Director General for her visionary leadership in making this possible. Her commitment to expanding pension coverage to the informal sector is opening doors for partnerships like ours that can drive real, sustainable change.”
The partnership leverages TeamApt’s comprehensive financial technology ecosystem that has powered banks, fintechs, and other financial institutions for over a decade. Their omni-channel Direct Debit service enables automated, recurring collections (subscriptions, repayments, or instalments) directly from a customer’s bank accounts upon their consent.
For the everyday Nigerian, the benefits extend well beyond retirement savings. Workers can now automate contributions for investments in the capital market, access quality healthcare through HMOs, and protect their families through insurance coverage. The initiative delivers financial advancement and well-being that goes far beyond basic inclusion.
About TeamApt
TeamApt Limited is a subsidiary of Moniepoint Inc. and Nigeria’s leading financial infrastructure provider. As a CBN-licensed switching and processing company, TeamApt Ltd. powers banking operations for numerous Nigerian banks and fintech companies, designing and operating systems that enable reliable movement of funds between financial institutions, payment channels, and end users. TeamApt’s solutions include direct-to-bank transfers, switching infrastructure, third-party processing, and Monnify, its flagship payment gateway.
About Moniepoint Inc.
Moniepoint Inc. is Africa’s all-in-one financial platform, helping over 20 million businesses and individuals access seamless payments, banking, credit, cross-border, and business management tools each month. As Nigeria’s largest merchant acquirer, it powers most of the country’s point-of-sale (POS) transactions. Through its subsidiaries, Moniepoint Inc. processes over US$250 billion in digital payment transaction value annually.
