Moniepoint recruits Stanbic IBTC CFO

Moniepoint, the Nigerian fintech company valued at over $1bn, has appointed Bayo Olujobi as Chief Financial Officer of its microfinance banking subsidiary, Moniepoint MFB.

The nine-year-old startup made this disclosure in a statement shared with The PUNCH recently.

Olujobi, who brings nearly 20 years of financial experience to the role, joins Moniepoint from Stanbic IBTC Bank, where he served as CFO and non-executive director.

The appointment follows Moniepoint’s recent $110m funding round, which will support its aggressive expansion plans.

The unicorn stated that Olujobi will be instrumental in driving the company’s growth strategy, which includes expanding digital payments, banking solutions, foreign exchange, credit, and business management tools across Africa.

Moniepoint aims to digitise operations for millions of small and medium-sized businesses across the continent, with a long-term target of onboarding 30 million businesses over the next five years.

The Group CEO, Moniepont Inc., Tosin Eniolorunda, stated, “We are delighted to welcome an accomplished and business savvy professional like Bayo to the Moniepoint family.

“His extensive experience in traditional banking and strategic insight as an innovative thought leader will be invaluable as we continue to grow, innovate and consolidate our market leadership in the financial services industry.

Olujobi’s leadership will undoubtedly strengthen our financial operations and support our long-term goals.”

He holds a Master of Business Administration, MBA, from the Cranfield School of Management, UK, as well as a Bachelor’s of Science Degree in Economics from the Lagos State University, where he finished as the best graduating student.

“I am really excited to have the opportunity to join Moniepoint at this time.

The bank has developed an unparalleled customer proposition across the business and personal banking segments and I believe it is on the cutting edge of delivering what the consumer craves—a secure, convenient and easy platform to manage their financial lives—Moniepoint is right at the forefront of this movement,” Olujobi said.