TeamApt Ltd, a subsidiary of Moniepoint Inc., has partnered with Awabah, an accredited pension agent, to provide pension accessibility for millions of Nigerians in the informal economy.

The partnership addresses a critical gap in the informal sector, which represents the majority of Nigeria’s workforce, where most workers retire without any savings. Moniepoint’s 2025 Informal Economy Report showed that 65 per cent of informal businesses reported revenue growth.

Through this collaboration, TeamApt, a CBN-licensed switching and processing company, will enable seamless pension onboarding and contributions via point of sale (POS) terminals across Nigeria for Awabah users through its Direct Debit service.

Workers can also register for personal pensions with simple clicks, tokenise their cards for recurring contributions, and set up automatic periodic deductions.

According to both firms, this transforms pension savings from a complex, bureaucratic process into a simple, everyday transaction, allowing business owners to build long-term financial security beyond their active working years.

Chief Executive Officer of Awabah, Tunji Andrews, said the partnership aims to achieve its vision: “No African worker should be one mishap away from poverty.”

Andrews said TeamApt’s Direct Debit service and extensive POS network enable Awabah to meet informal workers where they are – at the market stall, the mechanic workshop, the roadside kiosk, among others.

“For only a small token per period, workers can now access personal pensions bundled with health insurance, accident cover, and life insurance, all through the same POS terminals they use every day,” he explained.

Chief Executive Officer, TeamApt, Dennis Ajalie, said this partnership with Awabah represents exactly the kind of transformative financial infrastructure the country needs.

He said both companies will ensure that every Nigerian worker, regardless of their employment status, can build a secure financial future.

Ajalie explained that the partnership leverages TeamApt’s comprehensive financial technology ecosystem that has powered banks, fintechs, and other financial institutions for over a decade.

He said their omni-channel Direct Debit service enables automated, recurring collections such as subscriptions, repayments, or instalments, directly from a customer’s bank accounts upon their consent.