Moniepoint trims engineering, product teams, creates new roles

Moniepoint says it is trimming down its engineering and product teams as part of a restructuring aimed at improving operational efficiency and supporting its expansion into new markets.

The fintech company, in a holding statement issued on Monday, said the changes would result in fewer roles in some areas, while creating new positions, including platform architects responsible for designing and overseeing the technical systems supporting its various business platforms.

However, a company spokesperson told Nairametrics that the restructuring should not be regarded as a layoff, explaining that the changes are part of a broader organisational redesign.

Moniepoint said some existing positions would become redundant under the new structure. The company said it would consider affected employees for available positions across the business before initiating redundancy consultations where no suitable alternative roles could be identified.

Moniepoint adopts new engineering structure

Under the new arrangement, Moniepoint is moving to a platform-based structure comprising smaller, focused teams responsible for specific product areas from development to operation.

The company said the model would give teams greater autonomy and clearer accountability, enabling faster product development, improved operational reliability and more consistent services for its growing customer base.

The restructuring will also introduce platform architects, who will design and oversee the systems on which each platform group operates.

According to the company, the new positions will form part of its broader Product Operating Model and architectural governance framework, which guide the development of products, platform capabilities and technical infrastructure.

• “This model is designed for a business of the company’s size and ambition, giving teams greater autonomy and clearer accountability, while enabling faster product development, greater operational reliability, more consistent service for a growing customer base, and smoother expansion into new markets,” the company said in the statement.

Moniepoint said the changes followed its regular strategic review of operations and reflected the need to adapt its technology organisation to the scale and complexity of its growing financial services business.

The company did not disclose the number of employees whose roles would be affected or the timeline for implementing the changes.

It maintained that engineering and product development would remain central to its operations, expressing confidence that the new structure would strengthen its services for customers, employees and partners.

$400 billion payment volume underpins expansion

The restructuring comes as Moniepoint continues to scale its operations in Nigeria and expand into other African markets.

• The company said it processes more than $400 billion in annual digital payment transaction value across its subsidiaries. Its agent network also spans all 774 local government areas in Nigeria, supporting access to financial services across the country.
• Beyond Nigeria, the fintech is expanding its operations in Kenya as it seeks to extend its reach across the continent.
• Nairametrics reported that Moniepoint Microfinance Bank processed transactions worth N412 trillion and disbursed over N1 trillion in loans in 2025.

The company said loan disbursements were targeted largely at small and medium-sized enterprises, including provision stores, supermarkets, and building materials traders.

Moniepoint winds down UK remittance business

Meanwhile, Moniepoint’s restructuring comes two months after it announced plans to transition its UK-based remittance business, MonieWorld, as the fintech group redirects capital and resources towards its core financial platform for African businesses.

MonieWorld was launched in April 2025 to enable Nigerians in the diaspora to send money directly to Nigerian bank accounts.

The company said the service gained traction after its launch, recording a 70% increase in monthly transaction volume among UK-based diaspora users making payments through cards, Apple Pay and Google Pay.

Despite the early traction, Moniepoint said it had decided to redirect the technical, capital and operational resources developed through MonieWorld towards its primary African markets.