Nigeria’s leading microfinance institution, Accion Microfinance Bank (MfB) has launched AccionMonie, a transformative digital financial services platform designed to empower individuals, micro, small and medium enterprises (MSMEs) and low-income households.
A statement on Tuesday, 15 July, 2025, said through AccionMonie, the microfinance bank is expanding digital capabilities for financial access and empowerment across the spectrum of underserved individuals and businesses. The user-friendly platform offers instant access to essential services, including loans, savings, capital, and other forms of support.
It started that the launch of AccionMonie is a key part of the bank’s “Always there to lend you a hand” campaign, which reinforces its long-standing commitment to small business growth and the welfare of low-income households. The campaign positions Accion MFB not just as a financial provider but as a trusted partner in its customers’ journey towards business success and economic empowerment.
In Nigeria, micro, small and medium enterprises (MSMEs) are one of the key growth drivers of the economy. Estimated at about 37 million, MSMEs currently account for 86 per cent of employment and 48 per cent of Gross Domestic Product (GDP).
However, despite their strong
potential, the MSMEs continue to be impacted by existential challenges, notably access to capital and finance, infrastructure and an enabling business environment.
Chief Executive Officer (CEO) of Accion MfB, Taiwo Joda, described the launch of AccionMonie as an important milestone and a testament to the bank’s culture of innovation; one that ensures its products and offerings continue to reflect the evolving needs of its customers.
He said: “At Accion Microfinance Bank, we believe in the potential of every MSME to drive inclusive economic growth. That is why we are committed to empowering them with the financial support they need to grow, innovate, and make a lasting impact in their communities and beyond.”
On his part, the Chief Commercial Officer (CCO) of the bank, Stephen Olalere, stated that AccionMonie and the combination of the bank’s extensive network of over 74 branches in 12 states will address the persistent challenge of limited access to financial services faced by many small businesses in Nigeria. He added that the platform’s user-friendly features will simplify payments and offer much-needed support for both businesses and individuals.
The Chief Digital Officer of the bank,
Paul Ehiagbonare, said this is a bold move towards digital leadership, maturity and excellence. He stated that: “For us, AccionMonie is a reflection of the much needed customer empowerment through digital tools and technologies. We are not only providing access to finance but standing beside our customers as partners, supporting their ambitions when others
may not and doing so timely and more efficiently. Our goal is to be a reliable ally on their journey toward growth, stability, and long-term success.”
He stated that AccionMonie offers a range of customer-focused features designed to promote financial inclusion and empower users. One of its unique offerings is Save2Loan, which allows customers to save between N50,000 and N250,000 over 90 days and qualify for a loan worth twice their savings. He noted that this feature is expected to encourage a stronger culture of saving while expanding access to credit.
He explained that customers can also fund their AccionMonie accounts directly using any debit card, which is an easy, seamless process that eliminates the need for long queues at banking halls. Another key feature is the targeted saving option and locked savings, which helps users plan and save for long-term goals such as tuition, rent, or investment while earning competitive interest.
He noted that customers can also earn for referring others, adding that account management features include on demand bank statement, account upgrade features, secure access, transfer limit management amongst others.
The AccionMonie app is now available for download on the Apple App Store, Google Play Store, or directly via this link: https://onelink.to/57z27p.
Accion Microfinance Bank has been in operation for over 16 years and is a pioneer in Nigeria’s microfinance sector, providing innovative financial solutions. The bank’s long history of supporting entrepreneurs and small businesses has greatly contributed to economic growth and development.
The bank has solid shareholder investments from three major banks: Ecobank, Zenith Bank and Citi Bank – as well as International Finance Corporation, a World Bank member, and Accion Investments, all of which contribute to its strong financial base and allow it to serve an ever-increasing number of customers.
