TeamApt Ltd., a subsidiary of Moniepoint Inc., has partnered with Awabah to deepen access to micropensions for millions of Nigerians working in the informal economy.
Beyond retirement savings, the companies said the platform could also support automated contributions for investments, healthcare access through HMOs, and broader insurance coverage extending financial protection and resilience for everyday Nigerians.
Under the new partnership, TeamApt, licensed by the Central Bank of Nigeria as a switching and processing company, will power pension onboarding and contributions through its Direct Debit service on Point of Sale (POS) terminals nationwide.
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“The deal would allow the company to reach workers directly in marketplaces, workshops, and roadside kiosks. Contributors can make small, regular payments while accessing bundled benefits such as health insurance, accident cover, and life insurance through the same POS terminals they already use,” Tunji Andrews, Awabah’s chief executive officer, stated.
Dennis Ajalie, CEO of TeamApt, said the partnership aligns with the company’s long-standing focus on supporting the informal economy. “TeamApt and its banking subsidiary operate across all 774 local government areas, serving millions of businesses and individuals. The initiative represents transformative financial infrastructure capable of driving pension inclusion at scale.”
The collaboration was unveiled in Abuja at the launch of Awabah’s accredited agent licence by the National Pension Commission, where Omolola Oloworaran, the commission’s director-general, said Nigeria’s pension assets have surpassed N27 trillion but remain heavily concentrated among formal-sector workers.
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Most informal workers who make up the bulk of the labour force still retire without savings, revealing the urgency of inclusive pension solutions, according to her.
Speaking at the launch event themed ‘Building Financial Resilience: Securing the Future with Personal Pensions, ’ Oloworaran noted that most informal workers who make up the bulk of the labour force still retire without savings, revealing the urgency of inclusive pension solutions.
Moniepoint’s 2025 Informal Economy Report reinforces the challenge by showing that while 65 percent of informal businesses reported revenue growth, many lack the long-term structures needed for succession and financial security.
The partners expect the rollout to accelerate pension adoption among informal workers, helping to close one of Nigeria’s most persistent financial inclusion gaps. Informal workers can register for personal pensions, tokenise cards for recurring payments, and automate periodic deductions, turning pension savings into a simple, everyday transaction.
