TeamApt wins financial ecosystem innovator award at 2026 BAFI

TeamApt Ltd., a Central Bank of Nigeria (CBN)-licensed switching and processing company, has been named Financial Ecosystem Innovator of the Year, at the 2026 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, in recognition of its contribution to Nigeria’s financial services infrastructure.

The company, a subsidiary of Moniepoint Inc., provides payment infrastructure supporting millions of daily transactions for banks, financial institutions and businesses across the country.

For more than a decade, TeamApt has developed and operated payment systems supporting Moniepoint Microfinance Bank and several Nigerian financial institutions, enabling the secure and reliable movement of funds across payment channels.

The company has also expanded its infrastructure into other sectors, including pension services and capital markets, broadening access to financial products for individuals and businesses.

Through a partnership with Awabah, TeamApt is using its Direct Debit service to facilitate micro-pension contributions for informal sector workers and self-employed Nigerians. The service enables enrolment and recurring pension contributions through point-of-sale (POS) terminals, beginning with terminals operated by Moniepoint MFB.

The company is also providing the technology infrastructure for retail subscriptions to the Dangote Petroleum Refinery initial public offering (IPO), one of the country’s largest-ever public offerings.

Working with Moniepoint MFB, TeamApt processes subscriptions through Moniepoint POS terminals and its personal and business banking applications, enabling Nigerians to participate in the offer through familiar payment channels.

The initiative is aimed at widening retail investor participation in the capital market by allowing individuals across the country’s 774 local government areas to access the investment opportunity.

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Commenting on the award, Dennis Ajalie, Managing Director and Chief Executive Officer of TeamApt, said the recognition reflected the company’s sustained investment in building secure and scalable financial infrastructure.

He said the company’s payment systems had created opportunities to extend financial services to underserved groups, including informal workers seeking pension coverage and individuals looking to participate in the capital market.

“This recognition belongs to every team member at TeamApt and to the banks, financial institutions and partners who trust our infrastructure every day,” Ajalie said.

He added that the company’s focus remained on extending its infrastructure into sectors where it could improve access to financial services and support more Nigerians.

The Financial Ecosystem Innovator of the Year award was one of three honours received by the Moniepoint Group at the 2026 BAFI Awards.

Moniepoint Microfinance Bank won Microfinance Bank of the Year, while Tosin Eniolorunda, co-founder and chief executive officer of Moniepoint Inc., received the SME Finance Transformation Leader of the Year award.

TeamApt’s infrastructure supports services including direct-to-bank transfers, switching, third-party payment processing and Monnify, its payment gateway.

The company designs and operates systems that facilitate transactions between financial institutions, payment channels and end users, positioning it as a key technology provider within Nigeria’s financial services ecosystem.