Olukoyede Urges Moniepoint to Uphold Regulatory Compliance
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has charged Moniepoint Microfinance Bank to prioritise strict regulatory compliance in its operations.
Olukoyede gave the charge on Thursday, January 22, 2026, when the management of Moniepoint, led by its Founder and Chief Executive Officer, Tosin Eniolorunda, paid him a courtesy visit at the EFCC headquarters in Jabi, Abuja.
He stressed the importance of due diligence in fintech operations, noting that adherence to regulatory standards would protect the platform from being exploited for money laundering and terrorism financing.
“Take your time, play by the rules, follow the law and always do the right thing. Regulatory compliance is critical because it takes a lot to build a business,” he said.
The EFCC boss also underscored the importance of Know Your Customer (KYC) procedures, particularly in line with regulations issued by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), especially on cryptocurrency-related transactions.
Olukoyede commended Moniepoint’s leadership for its resilience and growth, describing the company’s progress as a testament to courage and determination in Nigeria’s challenging business environment.
In his response, Eniolorunda assured the EFCC of Moniepoint’s commitment to regulatory compliance, safety, and strong anti-fraud and anti-money laundering frameworks.
He said the bank had matured significantly over the years, strengthening its systems to combat fraud while delivering reliable payment and credit solutions to businesses across the country.
