Moniepoint Agent Accused Of Fraud As Customer Cries Out For Justice
A Moniepoint customer, Princess Okushi Chioma, has alleged that she was defrauded and left heavily indebted by a company agent, raising fresh concerns about consumer protection and financial security within Nigeria’s fast-growing fintech space.
According to a petition by Quality TV, the agent, Mr Osugba Sylvester, allegedly used Princess Okushi’s Bank Verification Number (BVN) to fraudulently open 14 accounts without her knowledge or consent.
He is also accused of manipulating her Moniepoint account, pressuring her to make deposits under the guise of loan repayments, and then diverting the funds for personal use.
The alleged fraud has had a devastating effect on Princess’s livelihood, crippling her business and leaving her in debt. “My life has been turned upside down.
I trusted the system, but now I feel abandoned,” she said.
Although Moniepoint reportedly opened an investigation into the case in April 2025, no formal report has been released. Instead, the agent was said to have been dismissed.
However, Princess and other customers claim Sylvester continues to parade himself as a Moniepoint representative, raising fears of insider protection.
Consumer advocates argue that the case highlights gaps in accountability within financial service providers.
Princess has demanded a full investigation, recovery of her stolen funds, and assurances that customers’ BVNs are secure from internal abuse.
For now, she continues to wait for answers. “All I want is justice and the chance to rebuild my business without fear,” she appealed.
