Moniepoint CEO advocates cash flow lending as Nigerian credit access rises

Moniepoint Group CEO Tosin Eniolorunda is advocating for cash flow-based lending in Nigeria, suggesting that lenders should prioritize transaction records and business income patterns over traditional collateral. This approach aims to assist businesses that lack physical assets but maintain reliable income streams.

According to the 2026 Access to Financial Services in Nigeria (A2F) survey conducted by EFInA and the National Bureau of Statistics, formal credit use among Nigerian adults rose to 10 per cent, up from six per cent in 2023. The survey, which interviewed over 18,600 adults, also reported that formal financial inclusion has reached 73 per cent, covering approximately 87.2 million people.

While inclusion is rising, the data highlights challenges. Formal borrowing for consumption and coping purposes increased to 40.8 per cent in 2026, surpassing productive enterprise borrowing, which stood at 34.3 per cent. Additionally, approximately 45.8 per cent of formal credit users reported experiencing repayment stress. The survey noted specific progress among women, with formal inclusion for women business owners rising to 76.3 per cent and women farmers reaching 53.6 per cent.