Moniepoint Microfinance Bank has said it did not arrest, detain or request the arrest of any individual for criticising its services.

The firm noted that as a responsible financial institution, “we respect the right of every Nigerian to speak, and hold us accountable as we are custodians of millions of Nigerians’ livelihood.”

Moniepoint made the clarification at a briefing in Lagos on Wednesday, in reaction to the recent public concerns and ongoing legal proceedings.

The case

Vanguard reported that the Federal High Court sitting in Abuja, on Tuesday, fixed April 27 for the arraignment of two persons accused of creating a fraudulent online platform to spread a false scandal against Moniepoint.

Justice Rita Ofili-Ajumogobia gave the Police approval to arraign the defendants – Adebayo Aliu and Fatuntele Lukmon Tunde – on a seven-count cybercrime charge.

It was alleged that they had, sometime in January 2026, conspired, aided, and abetted each other to cyberstalk Moniepoint Microfinance Bank (MFB) by creating a bogus platform where they promised N500,000 to people to fabricate scandalous experiences to dent the credibility of the financial institution. Read the full story HERE.

Customers’ feedback remains central to our product, services – Moniepoint

Speaking to the developments at the briefing on Wednesday, Bemigho Awala, Moniepoint’s Public and Media Relations Manager, said patterns on social media engagement that border on creating reputation distrust and signs of coordination capable of triggering public panic and undermining confidence in the financial system began to emerge.

“These recent developments,” Moniepoint noted, “revealed patterns of activity that extended beyond routine criticism.”

With a platform that supports millions of individuals and businesses while employing thousands across every Local Government Area in Nigeria, Moniepoint stated that it operates at a scale where protecting public trust is critical not only to its business, but to the stability of the broader financial ecosystem.

“In response to these concerns, we formally reported the matter to law enforcement authorities as a regulated financial institution. The case is now being handled independently by the appropriate agencies, with prosecution led by the relevant Nigerian Police office.

“The issues before the court are framed around allegations including coordinated inducement, fabricated narratives, impersonation, and reputational harm.

“These are allegations that will be examined and determined through the due judicial process.

“The case has taken on broader significance, highlighting emerging risks within the digital ecosystem and the need for clear boundaries between legitimate expression and organised digital conduct that may be harmful,” Moniepoint added.

… on transaction charges

Moniepoint reaffirmed its respect for the judicial process and its decision not to litigate the matter in the media, but acknowledged that recent public conversations, including those surrounding charges and policies, have raised concerns.

“Such feedback,” the firm said, “is being taken seriously and is informing ongoing efforts to improve communication, service delivery, and customer experience.

“While criticism is an essential part of a healthy ecosystem, it must not be distorted through falsehoods, inducement, or coordinated digital actions that erode public confidence.

“Our focus remains firmly on the millions of individuals and businesses who rely on our platform every day.

“We are commitment to operating with integrity, transparency, and accountability, as trust remains the foundation of our relationship with customers.”

Vanguard News