Moniepoint MFB has addressed recent public concerns and ongoing court proceedings, clarifying that the matter before the court is not about customer criticism but rather about allegations of a coordinated digital harm campaign currently under investigation by law enforcement authorities.
Some individuals operating with a trending hashtag ‘Moniepoint scandal’ through a parody account impersonating comedian and content creator Brainjotter, on X, formerly known as Twitter, promised to pay N500,000 to anyone who can come up with any scandal on Moniepoint.
Moniepoint speaks on trending customers arrest allegation
At a media conference held on Wednesday, March 18, in Lagos, Moniepoint denied arresting, detaining, or requesting the arrest of any individual for criticising its services.
According to the company, 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.
On the issue of coordinated online attacks, particularly in regard to Moniepoint and some individuals, controversy and misinformation of this magnitude can lead to a real financial crisis.
We’ve lived through genuine financial scares in Nigeria before (the 2009 banking crisis,… pic.twitter.com/EnwI6x5UKE
— Timi Agbaje (@timiagbaje_) March 17, 2026
The financial institution emphasised that it respects Nigerians’ right to express opinions, ask questions, and hold institutions accountable, noting that customer feedback remains central to its product and service improvements. The company, however, explained that recent developments 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.
It was also revealed that someone opened a parody account and promised a ₦500,000 giveaway to anyone who could write scandals about Moniepoint. pic.twitter.com/4hJscx6HEt
— Vampz (@Hybrid_Ola) March 17, 2026
Moniepoint involves law enforcement agents
In response to these concerns, Moniepoint confirmed that it formally reported the matter to law enforcement authorities, in line with its responsibility as a regulated financial institution. It noted that the case is now being handled independently by the appropriate agencies, with prosecution led by the relevant Nigerian Police office.
The company further clarified that the issues before the court are framed around allegations including coordinated inducement, fabricated narratives, impersonation, and reputational harm. The company stressed that these are allegations that will be examined and determined through the due judicial process.
The company added that 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.
Police Sue Moniepoint’s customers in Federal High Court
The Inspector General of Police has arraigned Moniepoint’s customers, Adebayo Aliu and Fatuntele Lukmon Tunde before a Federal High Court sitting in Abuja in a 8-count charges.
While reaffirming its respect for the judicial process and its decision not to litigate the matter in the media, Moniepoint acknowledged that recent public conversations, including those surrounding charges and policies, have raised concerns. It assured stakeholders that such feedback is being taken seriously and is informing ongoing efforts to improve communication, service delivery, and customer experience.
Read their charge sheet below:
Moniepoint also emphasised that 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.
Reassuring Nigerians, the company stated that its focus remains firmly on the millions of individuals and businesses who rely on its platform every day. It reaffirmed its commitment to operating with integrity, transparency, and accountability, noting that trust remains the foundation of its relationship with customers.
