TeamApt Partners with Awabah, PenCom

• To Power Micropensions for Nigeria’s Informal Economy

TeamApt Ltd., a subsidiary of Moniepoint Inc. and leading financial infrastructure provider, has partnered with Awabah, the National Pension Commission’s first licensed Accredited Pension Agent, to transform pension accessibility for millions of Nigerians in the informal economy.

This was announced at the launch of Awabah’s novel agent license in Abuja, under the theme ‘Building Financial Resilience: Securing the Future with Personal Pensions’.

The partnership addresses a critical gap in the informal sector outlined by Omolola Oloworaran, Director-General of PenCom, at the launch.

She stated that although Nigeria’s pension assets have grown to over N27 trillion, the gains have largely benefited formal-sector workers, while the informal sector, which represents the majority of Nigeria’s workforce, mostly retires without any savings.

Similarly, Moniepoint’s 2025 Informal Economy Report echoes this reality that 65% of informal businesses report revenue growth, yet most lack the structural sustainability needed for succession.

Through this collaboration, TeamApt, a CBN-licensed switching and processing company, will enable seamless pension onboarding and contributions via Point of Sale (POS) terminals across Nigeria for Awabah users through its Direct Debit service.

Workers can register for personal pensions with simple clicks, tokenize their cards for recurring contributions, and set up automatic periodic deductions.

This transforms pension savings from a complex, bureaucratic process into a simple, everyday transaction, allowing business owners to build long-term financial security beyond their active working years.

“When we started Awabah, we were driven by a single idea: that no African worker should be one mishap away from poverty,” said Tunji Andrews, CEO of Awabah.

“Our partnership with TeamApt makes this vision achievable at scale. Their Direct Debit service and extensive POS network enable us to meet informal workers where they are – at the market stall, the mechanic workshop, the roadside kiosk, and so on.

For only a small token per period, workers can now access personal pensions bundled with health insurance, accident cover, and life insurance, all through the same POS terminals they use every day.”

Dennis Ajalie, CEO of TeamApt, emphasized the alignment with TeamApt’s mission: “At TeamApt and Moniepoint Inc., we have always been laser-focused on powering the informal economy.

Today, in line with the permissible activities of our license category and in conjunction with our co-subsidiary, Moniepoint MFB, we operate in all 774 local government areas in Nigeria, serving millions of businesses and individuals who form the backbone of our economy.

This partnership with Awabah represents exactly the kind of transformative financial infrastructure our country needs.

Together, we will spread the gospel of pension inclusion, ensuring that every Nigerian worker, regardless of their employment status, can build a secure financial future.”

Ajalie also acknowledged the leadership of the Director General of PenCom, Omolola Oloworaran, adding, “I want to commend the Director General for her visionary leadership in making this possible.