Moniepoint Denies Involvement in Customer Arrests, Cites Online Reputation Attack
Moniepoint Microfinance Bank has firmly denied reports alleging the arrest of customers over service complaints, stating that the ongoing court case is unrelated to customer criticism. The company emphasized that the legal matter focuses on a coordinated digital campaign aimed at damaging its reputation and undermining public trust in Nigeria's financial system.
Media Briefing Clarifies Legal Proceedings
At a media briefing held on Wednesday, March 18, 2026, in Ikeja, Moniepoint representatives clarified that the company has no involvement in the arrest or detention of individuals for expressing dissatisfaction with its operations. Instead, the firm revealed that internal reviews and social media monitoring identified patterns of suspicious online activity suggesting more than ordinary customer complaints.
According to Moniepoint, the activity included signs of coordination capable of spreading distrust and triggering panic among users, particularly given the scale of its operations across Nigeria. The company serves millions of individuals and businesses nationwide and employs thousands of people across all Local Government Areas, making public trust a critical component of its operations.
Law Enforcement Handles Cyberstalking Case
Moniepoint confirmed that it formally reported the matter to law enforcement authorities as part of its obligations as a regulated financial institution. The case is now being handled independently by relevant agencies, with prosecution led by the Nigerian Police. The allegations before the court include coordinated inducement, impersonation, fabrication of narratives, and reputational harm, all subject to judicial determination.
The company stressed that while it respects Nigerians' right to free expression, there must be a clear distinction between genuine criticism and organized actions that could destabilize trust in financial platforms. Moniepoint acknowledged that recent public conversations around its charges and policies have raised valid concerns, noting that such feedback is being taken seriously.
Details of the Online Campaign
Findings revealed that individuals masquerading as popular skit maker and comedian Chukwuebuka Amuzie, popularly known as Brain Jotter, embarked on a fake giveaway asking respondents to attack Moniepoint. Some posts on X, formerly called Twitter, sought engagement by asking people to respond with the word "Moniepoint Scandal" to win N500,000.
According to court documents, two persons were charged with six counts, ranging from cyberstalking the brand to impersonation. This highlights the severity of the alleged online disinformation campaign targeting the financial technology firm.
Commitment to Customer Trust and Transparency
Moniepoint reiterated that customer feedback remains central to its service improvements and pledged to enhance communication and user experience. The company emphasized that while criticism is essential in a healthy digital ecosystem, it should not be driven by falsehoods or coordinated manipulation.
Reassuring stakeholders, Moniepoint stated that it remains committed to transparency, accountability, and integrity, stressing that maintaining trust among the millions who rely on its platform remains its top priority. The firm also noted its recent regulatory upgrade, as the Central Bank of Nigeria granted it a nationwide operating licence alongside other fintech companies like Opay, expanding access to digital banking solutions across Nigeria.
