Nigerian fintech giant Moniepoint, which recently raised $110 million at a billion-dollar valuation, has appointed Bayo Olujobi as the Chief Financial Officer (CFO) of its microfinance bank subsidiary, Moniepoint MFB.
Olujobi, who joined the company in March 2024, brings nearly 20 years of experience in finance, having previously served as CFO at Stanbic IBTC Bank and as a non-executive director at Stanbic IBTC Capital.
Olujobi’s appointment comes at a pivotal time for Moniepoint MFB, which is working to digitize services for Nigeria’s small and medium-sized businesses. Just eight months ago, the bank partnered with Nigeria’s Corporate Affairs Commission (CAC) to support digital transformation for 2 million SMEs.
As CFO, Olujobi will help Moniepoint reach its ambitious goal of onboarding 30 million businesses in the next five years. Moniepoint is also focused on expanding its offerings in digital payments, banking, FX, credit, and business management across Africa.
Olujobi said, “I am really excited to have the opportunity to join Moniepoint at this time. The bank has developed an unparalleled customer proposition across business and personal banking segments… a secure, convenient, and easy platform to manage their financial lives.”
Olujobi’s hire continues a trend of fintechs recruiting top talent from traditional banks. Since April, Moniepoint and other fintech companies have increased hiring in compliance and finance, drawing experienced professionals from banks and other financial institutions to fuel their rapid growth.
