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One Step Ahead”: Moniepoint Responds To Rising Cost Of Living With Smarter Savings For Businesses And Individuals
By prince Benson Davies
Moniepoint Microfinance Bank has rolled out a new range of savings products designed to help Nigerians cope with the realities of daily expenses, while also building long term financial stability. The initiative is being driven by a nationwide campaign titled “One Step Ahead” and features Nollywood star Funke Akindele as the brand ambassador.
According to findings from a recent Moniepoint customer survey, unexpected expenses are the biggest barrier to saving in Nigeria. The data shows that 72.8 percent of respondents said unplanned costs forced them to break into their savings, while 51 percent cited irregular income as another major challenge. Against this background, Moniepoint is positioning its new offering around flexibility rather than rigidity, giving customers tools that match how they earn and spend.
Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, said the new products were developed to address real customer pain points. He explained that the bank wants to give both individuals and small businesses access to competitive returns without locking them out when emergencies arise. He noted that financial happiness is at the center of the mission, and that saving should not feel like a punishment but like a pathway to achieving personal and business goals.
The “One Step Ahead” campaign introduces four savings options. Target Savings allows account holders to make one withdrawal of up to 50 percent without forfeiting interest and offers up to 11.5 percent per annum. Flexible Savings permits up to four withdrawals in a month while still earning interest at 9.5 percent per annum. For those who prefer to lock funds away, the Fixed Deposit option pays interest upfront and provides returns of up to 17.5 percent per annum. The fourth product, Save As You Transact, automatically sets aside money whenever a customer spends and allows free access to funds at any time.
Except for premium tiers, customers can start with as little as 1,000 naira. Moniepoint said this low entry point is deliberate, to ensure that artisans, traders, students and other everyday earners can participate. The bank currently serves over 20 million business and personal customers and is leveraging its digital payments infrastructure to make deposits, withdrawals and interest tracking seamless.
To give the campaign cultural relevance, Moniepoint chose Funke Akindele, widely known as Jenifa, to lead the storytelling. The actress will appear in campaign materials set within the familiar world of Jenifa’s Diary, which has run for more than 20 seasons since 2015. The choice reflects Moniepoint’s focus on everyday Nigerians and small business owners who form the core audience of the series. Akindele, who has 10 AMVCA wins and whose 2025 film Behind the Scenes crossed 2 billion naira at the West African box office, brings wide appeal across Nigeria and the diaspora.
New and existing customers can open an account by downloading the Moniepoint business or personal banking app and completing the online registration and KYC process. The bank says the goal is to make saving simple, accessible and rewarding at a time when many households are looking for safer ways to manage money.
For more information, visit the Moniepoint website or download the Moniepoint app on Google Play Store and Apple App Store.
Follow the campaign on social media using OneStepAhead
