Moniepoint Denies Arresting Customers, Says Court Case Targets Online Reputation Attack
- Moniepoint has denied involvement in customer arrests, asserting legal case relates to coordinated online disinformation
- The company revealed that patterns of suspicious online activity aimed at damaging its reputation amidst customer dissatisfaction
- Two individuals face charges for cyberstalking and impersonation linked to a fake giveaway targeting Moniepoint
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Moniepoint Microfinance Bank has responded to widespread reports alleging that some of its customers were arrested over complaints about its services, insisting that the matter before the court is unrelated to customer criticism.
At a media briefing held on Wednesday, March 18, 2026, in Ikeja attended by Legit.ng, the company firmly denied any involvement in the arrest or detention of individuals for expressing dissatisfaction with its operations.
Source: Facebook
Instead, Moniepoint clarified that the ongoing legal case centres on what it described as a coordinated digital campaign allegedly aimed at damaging its reputation and undermining public confidence in the financial system.
Allegations of coordinated online activity
According to the company, internal reviews and social media monitoring revealed patterns of engagement that suggested more than ordinary customer complaints.
Moniepoint said 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 firm noted that it 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.
Case handled by law enforcement
Moniepoint confirmed that it formally reported the matter to law enforcement authorities as part of its obligations as a regulated financial institution.
It stressed that the case is now being handled independently by relevant agencies, with prosecution led by the Nigerian Police.
The company further explained that the allegations before the court include coordinated inducement, impersonation, fabrication of narratives, and reputational harm. It added that these claims remain subject to judicial determination.
Balancing free expression and digital responsibility
While reaffirming its respect for Nigerians’ right to free expression, Moniepoint emphasised that there must be a clear distinction between genuine criticism and organised actions that could destabilise trust in financial platforms.
The company acknowledged that recent public conversations around its charges and policies have raised valid concerns, noting that such feedback is being taken seriously.
Commitment to customers and trust
Moniepoint reiterated that customer feedback remains central to its service improvements and pledged to enhance communication and user experience.
Source: Getty Images
It added that while criticism is essential in a healthy digital ecosystem, it should not be driven by falsehoods or coordinated manipulation.
Reassuring stakeholders, the company said it remains committed to transparency, accountability, and integrity, stressing that maintaining trust among the millions who rely on its platform remains its top priority.
What really happened
Findings by Legit.ng showed that individuals masquerading as popular skit maker and comedian, Chukwuebuka Amuzie, popularly called Brain Jotter, embarked on a fake giveaway, asking respondents to attack the company.
Some of the posts on X, formerly called Twitter, sought engagement by asking people to respond with the word “Moniepoint Scandal” to win N500,000.
According to the court document sighted by Legit.ng, two persons were charged with six counts, ranging from cyberstalking the brand to impersonation.
CBN grants national licence to Opay, Moniepoint, Others
Legit.ng earlier reported that The Central Bank of Nigeria (CBN) has approved a nationwide operating licence for several financial technology firms and microfinance banks, allowing them to conduct business across all states of the federation.
The decision covers leading digital payment providers such as Opay and Moniepoint, as well as other fintech companies and microfinance institutions that previously functioned under state or regional authorisations.
This regulatory upgrade represents a significant shift in Nigeria’s financial services sector, signalling the CBN’s intention to expand access to digital banking solutions nationwide,
Source: Legit.ng
