Moniepoint, a Nigerian fintech company that recently raised $110 million at a $1 billion valuation, has appointed Bayo Olujobi as Chief Financial Officer (CFO) of one of its subsidiaries, Moniepoint MFB. Olujobi, who has about 20 years of experience in the financial sector, joins Moniepoint from Stanbic IBTC Bank where he served as CFO and non-executive director.
Olujobi’s appointment as CFO comes eight months after the MFB partnered with the country’s Corporate Affairs Commission (CAC) to digitize the operations of 2 million small and medium-sized enterprises. He will also play a key role in the company’s goal of onboarding 30 million businesses over the next five years. Moniepoint also plans to expand its digital payments, banking, foreign exchange (FX), lending and business management tools across Africa.
“I am thrilled for the opportunity to join Moniepoint. The bank has developed unparalleled customer service across business and retail banking and I believe it is a leader in giving customers what they want – a secure, convenient and simple platform to manage their finances. Moniepoint is at the forefront,” Olujobi said in a press release obtained by TechCabal.
His appointment continues a trend of top fintech startups poaching talent from banks and other fintechs. Since April, Moniepoint and other fintechs have ramped up compliance hiring, poaching top talent from banks and other fintechs.
