Moniepoint, a leading Nigerian fintech with a strong foothold in agency banking, has appointed Bayo Olujobi, former Chief Financial Officer at Stanbic IBTC, as its new CFO. This strategic hire signals Moniepoint’s ambition to expand its financial services, potentially positioning itself for a transition from microfinance into full commercial banking in Nigeria.
With a valuation over $1 billion, Moniepoint has achieved “unicorn” status and processes over $150 billion in annual transactions. Olujobi's extensive background in traditional banking is expected to bolster Moniepoint’s regulatory expertise and financial management capabilities, critical for scaling its operations and pursuing a commercial banking license in the future.
Tosin Eniolorunda, CEO of Moniepoint, has emphasized the company’s commitment to advancing financial inclusion across Nigeria and Africa. Moniepoint is considering expansion into markets like Kenya, aiming to replicate its successful agency banking model in underserved regions with limited banking infrastructure.
By bringing on Olujobi, Moniepoint fortifies its leadership team and moves closer to becoming a comprehensive financial services provider, setting the stage for transformative growth within Nigeria and beyond.
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