The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has called on Moniepoint Microfinance Bank to maintain strict adherence to regulatory requirements in the provision of its financial services.
Olukoyede made the call on Thursday, January 22, 2026, during a courtesy visit by the management of Moniepoint, led by its founder and Chief Executive Officer, Tosin Eniolorunda, to the EFCC headquarters in Jabi, Abuja.
The EFCC chairman underscored the need for thorough due diligence in the fintech bank’s daily operations, stressing that compliance with established regulations would not only fortify the institution but also protect its platform from being misused for money laundering and terrorism financing.
“It is something that you need to take seriously because it takes a lot to build a business,” Olukoyede said.
“Take your time, play by the rules, follow the law, regulatory compliance and always address your mind to doing the right thing.”
He further highlighted the importance of robust Know-Your-Customer (KYC) processes, particularly against the backdrop of changing regulations by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), with special attention to cryptocurrency-related transactions.
“KYC is very key, and those are the things we expect you to take very seriously,” he added.
Olukoyede also praised the leadership of Moniepoint for its perseverance and commitment in expanding the bank and delivering quality financial services.
“Anybody who has grown a business to the level of employing 10 people in Nigeria deserves a salute. I salute your courage. I can imagine the challenges, but for you to have nurtured this idea to this level, I must salute your courage,” he said.
Responding, Eniolorunda assured the EFCC leadership of Moniepoint’s firm dedication to regulatory compliance and the security of transactions carried out on its platform.
He explained that the bank fully recognizes its obligation to society and has consistently prioritized compliance, safety, anti-fraud measures and anti-money laundering practices.
“These are all responsibilities that we have taken very seriously over the years. We have had our growth phase and our immaturity phase, and we are now in our adult and maturity phase, where we have managed to combat a lot of fraud that was so harmful to the fintech systems in the past,” he said.
Eniolorunda also disclosed that Moniepoint carries out comprehensive verification processes to confirm that account holders are legitimate, while noting the positive contributions of the bank’s services to businesses nationwide.
“We are proud of the impact that our solutions have brought into our market, the reliability it has given to the average business person to accept payments and the credit we have extended into society,” Eniolorunda stated.
