Moniepoint, the Nigerian fintech unicorn that recently raised $110 million, has named Bayo Olujobi as the Chief Financial Officer (CFO) of its subsidiary, Moniepoint Microfinance Bank (MFB). Olujobi joined the company in March 2024, as confirmed by sources close to the matter.
With 20 years of experience in finance, Olujobi previously served as CFO of Stanbic IBTC Bank and as a non-executive director at Stanbic IBTC Capital, the investment division of Stanbic IBTC Holdings. His appointment aligns with Moniepoint’s ambitious plans to digitize operations for 2 million small and medium-sized businesses and onboard 30 million businesses over the next five years.
This strategic hire follows the MFB’s collaboration with Nigeria’s Corporate Affairs Commission (CAC) to drive digital transformation for SMEs. Olujobi will also support Moniepoint’s efforts to scale its offerings across Africa, which include digital payments, banking, foreign exchange, credit, and business management tools.
Expressing enthusiasm for his new role, Olujobi said, “Moniepoint is right at the forefront of delivering a secure, convenient, and easy platform to manage financial lives. I am thrilled to join the bank at such a transformative time.”
This appointment continues a broader trend of fintechs attracting top talent from traditional banks and other fintech companies. Moniepoint, along with other fintech firms, has ramped up compliance and strategic hiring since April, further positioning itself as a leader in the evolving financial landscape.
