Our Litigation Against Digital Harm, Not Customer Criticism, Says MoniePoint 

Moniepoint Microfinance Bank has clarified that the ongoing legal proceedings involving the company were centred on allegations of coordinated digital harm under police investigation, and not targeted against customer criticism of its services.

Speaking with journalists in Lagos, the Public and Media Relations Manager of Moniepoint, Bemigho Awala, disclosed that the company has neither arrested nor requested the arrest of any individual for expressing dissatisfaction with its operations.

He noted that Moniepoint Microfinance Bank found itself at the centre of a deliberate online attack that used false accusations and the impersonation of a well-known influencer.

Hence, the Nigeria’s Inspector General of Police (IGP), Tunji Disu, launched a criminal investigation leading to charges slammed against two suspects, Adebayo Aliu and Fatuntele Lukmon Tunde, for their alleged involvement in the smear campaign against the bank.

The individuals were accused of creating a digital platform where they offered N500,000 to anyone willing to post comments containing the phrase “Moniepoint Scandal” alongside made-up, unfavourable stories about the bank.

The plan reportedly involved posing as popular social media figure known as Brain Jotter to lend credibility to the malicious claims and amplify their harmful campaign. Consequently, the accused persons now face charges under Nigeria’s Cybercrime (Prohibition, Prevention, etc.) Act 2015, including conspiracy, aiding and abetting, and impersonation with the intent to obstruct justice.

Awala stressed that the financial institution respects the rights of Nigerians to freely express opinions, ask questions, and hold organisations accountable, as customer feedback remains critical to improving its products and services.

He, however, explained that recent developments pointed to activities that went beyond routine complaints.

According to him, what initially appeared as isolated feedback began to reveal patterns of coordination capable of triggering public panic and eroding trust in the financial system.

“With a platform serving over 20 million individuals and businesses across all local government areas in Nigeria, protecting public trust is not just important to our business, but to the stability of the broader financial ecosystem,” he said.

Similarly, Awala disclosed that the company formally reported the matter to law enforcement authorities in line with its obligations as a regulated financial institution, adding that the case is now being independently handled by the appropriate agencies, with prosecution led by the Nigerian Police Force.

He further clarified that the issues before the court relate to allegations of coordinated inducement, fabricated narratives, impersonation, and reputational harm, noting that these claims would be determined through due judicial process.

“This is not about Moniepoint versus criticism. It is about a legal process examining whether certain digital actions cross the line into criminal conduct under Nigerian law,” he said.

Awala, however, noted that the case underscored emerging risks within the digital ecosystem and highlights the need to define clear boundaries between legitimate expression and organised digital conduct that could be harmful.

While reaffirming the company’s respect for the judicial process and its decision not to litigate in the media, he acknowledged that recent public conversations, including those relating to charges and policies, have generated concerns among stakeholders.

The media relations manager assured that such feedback was being taken seriously and was informing ongoing improvements in communication, service delivery, and customer experience.

Awala further maintained that although criticism remains vital in a healthy system, it must not be distorted through falsehoods, inducement, or coordinated actions capable of undermining public confidence.

He reiterated the company’s commitment to integrity, transparency, and accountability, assuring Nigerians that its primary focus remained on the millions of individuals and businesses who depend on its platform daily.