A Nigerian fintech company, Moniepoint, recently secured $110 million in funding at a billion-dollar valuation and has appointed Bayo Olujobi as the Chief Financial Officer (CFO) of Moniepoint MFB, a subsidiary. Olujobi, with 20 years of finance experience, previously served as CFO at Stanbic IBTC Bank and as a non-executive director at Stanbic IBTC Capital.
Olujobi’s appointment as CFO follows the MFB’s collaboration with the country’s Corporate Affairs Commission (CAC) to digitalize operations for 2 million small and medium businesses. He will play a crucial role in the company’s ambition to onboard 30 million businesses in the next five years and expand its digital financial services across Africa.
In a press release, Olujobi expressed his enthusiasm about joining Moniepoint and highlighted the company’s dedication to providing secure and convenient financial solutions. His appointment reflects a trend of fintech startups attracting talent from banks and other fintech firms.
Editor’s note: An earlier version of this article erroneously stated that Olujobi was a non-executive director at Stanbic IBTC bank.