Monnifi Launches as Key Payment Gateway for Nigerian Businesses

Monnifi has been introduced as a payment gateway designed to support businesses in Nigeria, ensuring seamless transaction processes. Damilar Ogunnaik, a representative of Monnifi, stated that the platform is built to handle the growing demand for reliable payment solutions, especially during times of currency volatility and rising costs.

By 2025, Monnifi is expected to process ₦25 trillion in transactions, representing an 18 billion increase and a 38% growth from 2023. This growth occurs during a period when Nigerian businesses face significant pressures on infrastructure and economic performance.

Monnifi operates within the technological infrastructure of Teamapt and Moniepoint, providing services tailored to the needs of businesses for collecting and disbursing money at scale. The platform reflects the breadth of Nigeria's digital economy, alongside other fintech companies like PiggyVest, Cowrywise, Bamboo, and Nomba, which are part of its ecosystem.