Payment Gateway Designated as a Payment Platform for Businesses

The Vice President of Monnify Payment Gateway, Damilare Ogunnaike, said that Monnify is engineered to function smoothly, avoiding issues such as failed transactions, delayed confirmations, and poor value for money. He described it as the preferred payment platform for Nigeria’s digital businesses.

In 2025, Monnify processed N25 trillion in transactions—about $18 billion—an increase of 38 percent from 2023.

“The growth occurred while Nigerian businesses faced currency volatility, rising costs, and heightened pressure on infrastructure to perform consistently. Monnify not only met that demand but expanded within it, becoming more relied upon when reliability mattered most,” Ogunnaike said in a statement.

He added, “Monnify is part of TeamApt, the technology infrastructure arm of Moniepoint. It is a payment‑gateway service designed for businesses that need to collect and disburse money at scale. Its customer base reflects the breadth of Nigeria’s digital economy. On the fintech side, companies such as PiggyVest, Cowrywise, Bamboo, Rise, and Nomba are part of the platform’s ecosystem.”