Moniepoint Microfinance Bank has denied allegations circulating on social media that it was responsible for the arrest or detention of a customer who criticised its services, stating that the matter is unrelated to the fintech company.
The clarification follows online reports involving Adebayo Oluwafemi, a Lagos-based digital marketer, who alleged that he was arrested by officers of the Nigeria Police Force on February 18 over issues linked to discussions about the fintech firm online.
In a statement issued by its management, Moniepoint said it had become aware of public concerns and social media discussions suggesting that the bank caused the arrest or detention of an individual for expressing criticism about its services.
The digital financial services provider alleged that the claims were inaccurate and stressed that it had no role in any arrest related to commentary about its operations or policies.
“We want to state clearly and unequivocally: Moniepoint Microfinance Bank did not arrest, detain, or request the arrest of any individual for expressing opinions or criticism about our services, tax policy, or any public issue,” the company said.
Moniepoint controversy linked to VAT charge
The incident emerged amid public debate earlier this year over the application of a 7.5% Value Added Tax (VAT) on certain services offered through the Moniepoint platform.
The charge applies to selected digital banking services including electronic banking fees, point-of-sale (POS) transactions, USSD services and card issuance.
The announcement triggered discussions on social media platforms, with some customers expressing concerns about the additional charges.
According to Moniepoint, reports linking the company to the arrest appear to stem from an independent investigation being conducted by the Nigeria Police Force.
The bank claimed the authorities acted within the scope of their own inquiry, which it said is unrelated to criticism of Moniepoint or public commentary about the VAT policy.
“Recent reports appear to relate to an ongoing investigation being conducted independently by the Nigeria Police Force concerning suspected cybercrime activities,” the company’s statement added.
Moniepoint further claimed that the investigation referenced in the reports is not connected to feedback or criticism directed at the fintech firm.
The bank also emphasised that it supports open public discussion about financial services and encourages customers to share feedback about its products and operations.
According to the company, user feedback collected through surveys and comment channels has historically helped it refine services and improve customer experience.
“We encourage open dialogue as, over time, we have utilised feedback from customers through surveys and comment sections to improve our products and customer services,” the bank said.
Moniepoint added that customer input remains important in ensuring that the platform continues delivering reliable financial services to the communities it serves.
The company reiterated that it will continue operating within Nigeria’s regulatory framework while maintaining the trust of millions of customers who rely on its digital financial services platform.
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