Moniepoint Microfinance Bank (MFB) has reinforced its position in Nigeria’s small business financing market, winning the SME Microfinance Bank of the Year award for the third consecutive year at the 14th BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The bank’s co-founder and group chief executive officer, Tosin Eniolorunda, also emerged as SME Finance Transformation Leader of the Year, earning the financial technology company double recognition at the ceremony.
The awards come amid the bank’s growing role in financing small businesses, with Moniepoint’s 2025 Year in Review showing that it disbursed more than ₦1 trillion in credit to thousands of small businesses during the year. Following access to the credit, the businesses recorded an average transaction value growth of more than 36 per cent.
Moniepoint deploys alternative data, including transaction histories, business patterns and payment behaviour, to assess borrowers’ creditworthiness, helping it extend financing to businesses that may face difficulties accessing credit through conventional channels.
The bank also reports that it serves more than six million active businesses and powers eight out of every 10 in-person payments in Nigeria, positioning it as the country’s largest merchant acquirer.
In 2025, Moniepoint MFB processed ₦412 trillion in transaction value across more than 14 billion transactions, reflecting the scale of its payment infrastructure and its growing footprint in Nigeria’s financial services sector.
Speaking on the recognition, Ezekiel Sanni, Senior Vice President, Distribution Network Sales at Moniepoint, who represented the co-founder and group CEO at the event, said the award reinforced the bank’s commitment to supporting small businesses with essential financial services.
“We are honoured to be named SME Microfinance Bank of the Year by BusinessDay. Small businesses are the backbone of the Nigerian economy, and this award strengthens our commitment to give them the credit, payments and tools they need to scale. We will keep expanding access to credit and investing in the network that serves them so that more businesses across the country can build with confidence,” Sanni said.
He also described Eniolorunda’s individual recognition as an endorsement of the company’s strategic direction and its ambition to expand access to quality financial services for small businesses.
“The SME Finance Transformation Leader award recognises the direction Tosin Eniolorunda has set for Moniepoint, which is to make quality financial services available to small businesses, which points to where the business is headed. We are working towards a financial system in which every small business, in every part of the country, can access the services it needs to grow,” he said.
The latest BAFI honours add to a growing list of recognitions received by Moniepoint MFB for its contributions to financial inclusion, innovation and business development.
Among these are the Best Financial Institution in Women Empowerment award from the Association of Professional Women Bankers and Marketing Campaign of the Year (Brand) at the Creative Impact Institute Awards.
The bank was also recently recognised for Innovative Digital Financial Solutions for Women at the Presidential Committee on Economic and Financial Inclusion (PreCEFI) She’s Included Conference, further highlighting its efforts to expand financial services to underserved segments of the economy.
Organised by BusinessDay, the BAFI Awards recognise financial institutions and industry leaders whose performance, innovation and leadership contribute to the development of Nigeria’s financial system.
The 2026 edition featured 67 awards spanning payments, lending, investment management, capital markets, insurance, pensions and trusteeship.