By Modupe Gbadeyanka

Entrepreneurs in the micro, small and medium-sized enterprises (MSMEs) sector in Nigeria have been assured access to finance by Polaris Bank Limited to strengthen the country’s non-export ecosystem.

The financial institution gave this assurance at the NAHCO and NACCIMA Export Group Programme themed Breaking Barriers: Helping SMEs Navigate Export Procedures for Agro Products and Other Commodities.

An executive director at Polaris Bank, Mr Chris Ofikulu, underscored the national importance of export diversification and the central role of MSMEs in building a resilient economy.

He noted that reducing Nigeria’s dependence on oil revenues requires coordinated action across the public and private sectors to strengthen non-oil exports, particularly within agro-exports and commodity trade.

“Expanding non-oil exports is not optional; it is a strategic imperative for building a resilient, inclusive and competitive Nigerian economy. SMEs, particularly in agro-exports and commodity trade, hold the key to unlocking our true comparative advantage.

“Polaris Bank remains committed to providing the finance, advisory support and partnerships required to help them scale confidently and compete globally,” Mr Ofikulu said.

Also addressing stakeholders, the Team Lead for Trade Services at Polaris Bank, Mr Olaleye Arinola, highlighted the importance of removing trade and payment bottlenecks that limit exporter competitiveness and cash flow, emphasizing the lender’s focus on building confidence and certainty into the export process through practical financial and advisory support.

“Exports cannot grow if finance and payments remain obstacles. At Polaris Bank, our focus is on removing friction from international trade by ensuring SMEs get paid faster, safer and with greater certainty through efficient trade finance, secure cross-border payments and hands-on guidance across documentation, FX and compliance,” Mr Arinola said.

It was gathered that the one-day engagement brought together regulators, industry stakeholders, exporters and trade bodies to advance practical solutions for easing trade barriers, improving access to finance and building a more resilient and diversified Nigerian economy.

The programme also marked the formal introduction and launch of the NACCIMA Export Group and the NAHCO Export Support Centre for MSMEs in Nigeria, creating a structured platform for exporters to access trade facilitation services, logistics support, regulatory guidance and financial solutions across the export value chain.

The engagement also focused on addressing structural challenges confronting exporters, including infrastructure gaps, port inefficiencies, logistics constraints, standards and certification requirements, and policy consistency.

Participants emphasized the need for stronger public-private collaboration among government agencies, trade bodies, financial institutions and logistics partners to simplify export procedures and improve market access for Nigerian SMEs.

As part of its partnership with the business and trade community, Polaris Bank unveiled a Dedicated Help Desk for NACCIMA members, designed to provide direct access to trade finance and payment support, fast-track resolution of export-related enquiries, and personalized advisory services on FX documentation and regulatory compliance.

By Adedapo Adesanya

Nigerian financial services firm, Moniepoint Incorporated, processed N412 trillion in transaction value and disbursed more than N1 trillion in loans to small businesses in 2025, as the company continues to grow Nigeria’s expanding retail payments and credit structure.

The company said it handled more than 14 billion transactions during the year and now powers about 80 per cent of in-person payments nationwide, underscoring the increasing concentration of payment flows through a small number of fintech platforms.

Moniepoint also averaged 1.67 billion monthly transactions in 2025 and grew its card user base by 200 per cent, with its cards being used 1.7 million times daily.

The organisation also processed over 500,000 data renewals daily, while customers spent N90 million ($64,264) daily at gyms.

Moniepoint’s scale reflects a broader shift in Nigeria’s payments landscape, where point-of-sale terminals and digital transfers have become central to everyday commerce, from neighbourhood shops to open-air markets.

Founded in 2015, Moniepoint has evolved from a backend technology provider into Nigeria’s largest merchant acquirer, offering payments, banking, credit, foreign exchange and business management tools to more than 6 million active businesses.

The company said it expanded lending to small businesses that are often excluded from bank credit, disbursing more than N1 trillion in loans through its microfinance banking unit in the year under review.

“Our focus has been on building infrastructure that works for how businesses actually operate,” said Mr Tosin Eniolorunda, Moniepoint’s founder and chief executive, pointing to the prevalence of informal trade in Africa’s largest economy.

In 2025, Moniepoint became a unicorn after it raised more than $200 million in a Series C funding round backed by investors including Development Partners International, Google’s Africa Investment Fund, Visa, the International Finance Corporation and Verod Capital, providing capital to scale its payments and financial services operations.

Beyond acquiring, the company said its switching and processing subsidiary, TeamApt Ltd, secured licences from Mastercard and Visa to operate as a processor and acquirer, enabling it to handle international card payments and provide switching services to other businesses across Africa. Its web payments gateway, Monnify, processed N25 trillion in transactions during the year.

Recently, the Central Bank of Nigeria (CBN) upgraded Moniepoint’s microfinance bank to a national microfinance bank licence, allowing it to expand its footprint across the country and broaden the range of products that it can offer.

By Aduragbemi Omiyale

A $250 million financing facility to support the acquisition of about 40 per cent equity in ND Western Limited from Petrolin Trading Limited has been secured by Aradel Energy Limited, a wholly owned subsidiary of Aradel Holdings Plc.

The funding package was facility for the energy firm by Standard Bank, which comprises Stanbic IBTC Capital Limited, Stanbic IBTC Bank Limited, and the Standard Bank of South Africa Limited.

The facility, Business Post gathered, was structured to support Aradel Energy’s strategic growth agenda, the refinancing of existing loan facilities, and the funding of increased production from the company’s existing asset base.

Aradel Energy is the operator of the Ogbele and Omerelu onshore marginal fields, as well as OPL 227 in shallow water terrain.

Prior to the transaction, Aradel Energy held a 41.67 per cent equity interest in ND Western, and following the completion of the acquisition, its shareholding in ND Western has increased to 81.67 per cent.

ND Western holds a 45 per cent participating interest in OML 34 and a 50 per cent equity interest in Renaissance Africa Energy Company Limited, the operator of the Renaissance Joint Venture and a 30 per cent owner of one of Nigeria’s largest and most strategic energy portfolios.

As a result of the transaction, Aradel Energy’s indirect equity interest in Renaissance has increased to 53.3 per cent, significantly strengthening the company’s upstream position and long-term value creation potential.

Standard Bank acted as Global Coordinator and Bookrunner, leading the structuring, execution, and funding of the facility, affirming its deep sectoral expertise and reinforces its position as a leading financier in Africa’s energy industry.

This transaction reinforces Standard Bank Group’s commitment to providing strategic capital to clients as they execute on their transformative growth objectives.

By delivering tailored financing solutions that enable sustainable value creation, the Bank remains a trusted partner to leading corporations across Africa’s evolving energy landscape.

“As Aradel Energy consolidates its position as one of Nigeria’s leading oil and gas companies, Stanbic IBTC Bank is proud to serve as a trusted long-term partner supporting the company’s growth ambitions,” the Executive Director for Corporate and Transaction Banking at Stanbic IBTC Bank, Mr Eric Fajemisin, stated.

Also commenting, the Regional Head of Energy and Infrastructure Finance for West Africa at Standard Bank, Mr Cody Aduloju, said, “The transaction illustrates Standard Bank’s ability to deliver large-scale, tailored funding solutions and further demonstrates our support to the fast-growing indigenous companies of Nigeria’s oil and gas sector.”

The chief executive of Aradel Holdings, Mr Adegbite Falade, said, “The acquisition bolsters Aradel Energy’s competitive positioning across Nigeria’s oil and gas value chain and supports our commitment to strategic growth, asset optimisation, and enduring value creation. We are pleased to have partnered with Standard Bank, who supported us and delivered a fully funded solution under very tight timelines.”