Moniepoint is referred to as a bank in Nigeria because it operates as a licensed financial institution providing a wide range of banking services.
Is Moniepoint a Bank in Nigeria
Moniepoint is a Microfinance Bank (MFB) in Nigeria. It's also referred to as one of the Deposit Money Banks (DMBs) in the country because it accept the deposition of funds into customer accounts. These funds and monitored by CBN and insured by the NDIC. The digital bank, formerly known as TeamApt, is a Nigerian fintech company headquartered in Lagos that offers banking services and loans through its online banking app. The company was established in 2015 by Tosin Eniolorunda and Felix Ike . In other words, another names for Moniepoint Bank is Moniepoint MFB and Moniepoint Inc. The Moniepoint Microfinance Bank is the name that was licenced by the Central Bank of Nigeria (CBN) and the Moniepoint Inc is the registered name on the CAC platform. You can also referred to Moniepoint Bank as Digital Bank and Neobank. Like Kuda, all the Moniepoint Bank services are based online. The only physical office Moniepoint have is in Lagos. And that's there headquarter. Is Moniepoint a Bank? Yes, Mon…
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