Accion Microfinance Bank (MfB), a leading Nigerian microfinance institution, has launched AccionMonie, a new digital financial services app aimed at enhancing access to financial tools for individuals, micro, small and medium enterprises (MSMEs), and low-income households.
In a statement on Tuesday, the bank said AccionMonie is part of its “Always There to Lend You a Hand” campaign, reaffirming its commitment to financial inclusion and economic empowerment. The app provides users with instant access to savings, loans, capital, and other financial services.
Accion MfB’s CEO, Taiwo Joda, described the launch as a major milestone in the bank’s innovation journey. “We believe in the potential of every MSME to drive inclusive economic growth. AccionMonie is designed to provide the financial support needed to help them thrive,” he said.
MSMEs, which number over 37 million in Nigeria, account for 86% of employment and 48% of GDP. However, they continue to face barriers such as limited access to finance and infrastructure. AccionMonie aims to address these challenges by offering simplified, digital solutions.
Chief Commercial Officer, Stephen Olalere, noted that the app complements the bank’s existing network of over 74 branches across 12 states, helping to close the financial access gap for small businesses.
According to Chief Digital Officer, Paul Ehiagbonare, the app represents a bold step towards digital leadership. “We are not just offering finance, we are empowering customers with the tools to grow and succeed,” he said.
Among its standout features, AccionMonie offers Save2Loan, a savings-linked loan feature that allows users to save between ₦50,000 and ₦250,000 over 90 days to qualify for a loan worth twice their savings. It also supports direct funding via debit cards, locked savings for goals like rent and tuition, referral rewards, and account management tools such as bank statements, transfer limit settings, and account upgrades.
The app is now available for download on the Apple App Store, Google Play Store, and through this link.
With over 16 years of operations, Accion MfB is backed by major shareholders including Ecobank, Zenith Bank, Citibank, the International Finance Corporation, and Accion Investments, reinforcing its capacity to deliver innovative financial services to underserved populations.
