TeamApt Ltd. in partnership with digital pension platform Awabah, has unveiled an initiative to boost informal workers’ pension enrollment by expanding micro-pension access through Point-of-Sale (POS) terminals nationwide.
themomentng reports that the initiative ‘Pension Direct’ was unveiled on Wednesday in Lagos.
The Managing Director of TeamApt, Mr Dennis Ajalie, said that the partnership would leverage TeamApt’s Direct Debit infrastructure to automate recurring pension contributions, thereby expanding retirement savings access beyond Nigeria’s formal workforce.
Ajalie said that under the arrangement, users could register for personal pension plans at participating POS terminals, tokenise their bank cards and authorise daily, weekly or monthly automated contributions without visiting banking halls.
According to him, Moniepoint Microfinance Bank is the first distribution network to deploy the service through its nationwide POS network across the 774 local government areas, with plans to expand to other agent networks.
He said that the initiative addressed longstanding barriers preventing informal sector workers from building retirement savings.
Ajalie said that TeamApt’s Direct Debit infrastructure supported secure card tokenisation and recurring payment mandates, making pension contributions seamless for artisans, traders and other self-employed Nigerians.
“Financial inclusion goes beyond access to payments. It must also provide access to financial tools that guarantee long-term financial security,” he said.
Ajalie said the infrastructure would also support recurring payments for insurance, investments, and other long-term financial services, helping businesses expand access to essential financial products.
He expressed optimism that the partnership would deepen pension penetration among millions of underserved Nigerians, improve financial inclusion, and strengthen long-term savings across the informal economy.
