Abuja court joins Moniepoint in N21B fraud case linked to Providus Bank POS glitch, EFCC, and merchants.
The Federal High Court in Abuja has added Nigerian fintech Moniepoint as a party in a N21 billion fraud case involving the Economic and Financial Crimes Commission (EFCC) and two POS merchants.
The dispute stems from an alleged glitch on Providus Bank POS terminals that led to unauthorized double payments worth N21.4 billion. Court documents claim several POS merchants, including Ishola Maruf Ademola and Ilesanmi Saheed Adeniyi, benefited from the duplicate settlements.
Justice Emeka Nwite ruled on August 12, 2025, that Moniepoint must be joined as a co-respondent since the case cannot be resolved without its input. Neither the EFCC nor the merchants’ lawyers opposed the move.
Moniepoint had petitioned both the police and the EFCC, alleging the merchants admitted to receiving billions in duplicate payments and using them to acquire properties. The case remains pending in court.
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