TeamApt bags award for payment innovation

Politics Spice Special Features Education Sex & Relationship Interview Columns Opinion Advertise with us TeamApt bags award for payment innovation Appointment & Mgt October 28, 2026 12:00 am People Business Partner, TeamApt Limited, Constance Onyeji-Jarret; and Publisher, BusinessDay, Frank Aigbogun, at the 2026 BusinessDay BAFI Awards in Lagos recently.

TeamApt Ltd., a Central Bank of Nigeria-licensed switching and processing company, has won the Financial Ecosystem Innovator of the Year award at the 2026 BusinessDay Banks and Other Financial Institutions Awards, recognising its role in expanding payment infrastructure and access to financial services.

The company, a subsidiary of Moniepoint Inc., has extended its payment technology beyond banking transactions into micro-pension contributions and retail investment access, including subscriptions to the Dangote Petroleum Refinery initial public offering.

TeamApt provides switching, processing and payment infrastructure for Moniepoint Microfinance Bank and other Nigerian financial institutions, supporting transactions between banks, payment channels, businesses and individuals.

Its partnership with Awabah enables informal and self-employed workers to make micro-pension contributions through its Direct Debit service, with enrolment and recurring payments available on point-of-sale terminals, initially through Moniepoint MFB terminals.

The company is also providing the technology infrastructure for retail subscriptions to the Dangote Petroleum Refinery IPO. Working with Moniepoint MFB, TeamApt processes subscriptions through Moniepoint POS terminals and its personal and business banking applications, enabling investors to participate through channels commonly used for everyday financial transactions.

The initiative extends access to the capital market beyond traditional investment channels, although the availability of these payment options does not eliminate the financial risks associated with investing in shares.

Commenting on the award, TeamApt Managing Director and Chief Executive Officer Dennis Ajalie said the recognition reflected the company’s work with banks, financial institutions and other partners over more than a decade.

“For more than ten years, we have focused on building rails that are reliable, secure and ready to scale,” Ajalie said. “This year, we have seen what that foundation makes possible, as we power pension contributions for informal workers and open up capital market access to everyday Nigerians.”

He said the company planned to extend its infrastructure into more sectors where digital financial services could address existing access gaps.

The award was one of three received by the Moniepoint Group at this year’s BAFI Awards. Moniepoint Microfinance Bank won Microfinance Bank of the Year, while Moniepoint Inc. Co-founder and Chief Executive Officer Tosin Eniolorunda received the SME Finance Transformation Leader of the Year award.

TeamApt’s business includes direct-to-bank transfers, switching infrastructure, third-party processing, and Monnify, its payment gateway. The company said its systems support banking operations for Nigerian banks and fintech companies.

Justice has over three years experience spanning digital and print media. At The PUNCH, he currently covers the automobile sector with special interest in features and industry analysis.

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