By Juliet Umeh

In a move aimed at deepening financial inclusion and improving retirement savings among Nigerians in the informal sector, TeamApt Limited has partnered with digital pension agent platform Awabah to launch Pension Direct, a micro-pension solution that enables self-employed workers to enrol in and contribute to pension schemes through Point of Sale, POS, terminals nationwide.

The partnership was unveiled in Lagos, with Moniepoint Microfinance Bank, MFB, announced as the first distribution network to offer the service through its extensive POS agent network.

The initiative leverages TeamApt’s Direct Debit infrastructure to automate recurring pension contributions, allowing users to enrol in a personal pension, tokenise their payment cards and schedule automatic contributions directly from POS terminals.

According to the companies, the solution is designed to eliminate barriers that have historically prevented workers outside the formal employment sector from participating in retirement savings.

Speaking at the launch, Managing Director and Chief Executive Officer of TeamApt, Dennis Ajalie, said the partnership reflects the company’s commitment to extending financial services beyond payments to long-term wealth and security.

He said: “Financial inclusion isn’t only about giving people access to payments; it’s about giving them access to the financial tools that help them build long-term security.

“For millions of Nigerians in the informal economy, contributing consistently to a pension has often been difficult because the underlying infrastructure wasn’t built for the way they earn and spend, unlike formal sector workers whose pension savings are made almost automatic through payroll deductions.”

Ajalie explained that TeamApt developed its Direct Debit service to address the challenge of recurring long-term payments through secure card tokenisation and payment mandates.

“We created our Direct Debit service to address exactly this, because we know long-term contributions need card tokenisation and recurring mandates that hold up over years.

“By combining this infrastructure with Awabah’s pension expertise, we are making long-term savings just as seamless for artisans, traders and other self-employed Nigerians,” he added.

TeamApt noted that its Direct Debit service powers Pension Direct by securely processing recurring contributions in the background while transforming neighbourhood agent locations into pension enrolment and payment centres.

The company said users can complete pension registration in a few steps at participating POS terminals, making retirement savings more accessible to millions of Nigerians who earn outside the formal payroll system.

With Moniepoint MFB serving as the first distribution partner, the service will leverage one of Nigeria’s largest agent banking networks, which spans all 774 local government areas across the country.

The partners also disclosed plans to extend Pension Direct to additional distribution networks in the future, broadening access to micro-pension products for underserved communities nationwide.

TeamApt further stated that the Direct Debit infrastructure is designed to support a broader range of recurring payment services beyond pensions, including insurance premiums, investment contributions and other long-term financial products.

According to the company, expanding the infrastructure across multiple sectors will help businesses deliver seamless payment experiences while increasing access to essential financial services for millions of Nigerians.