Bayo Olujobi has been named Chief Financial Officer (CFO) of Moniepoint MFB, one of Moniepoint’s subsidiaries. Moniepoint is a Nigerian fintech company that recently raised $110 million in Series C funding at a billion-dollar value.
Olujobi, who has worked in the finance industry for almost 20 years, was the CFO at Stanbic IBTC Bank before joining Moniepoint. Additionally, he served as a non-executive director at Stanbic IBTC Holdings’ investment division, Stanbic IBTC Capital.
Eight months after the MFB teamed up with the nation’s Corporate Affairs Commission (CAC) to digitize operations for two million small and medium-sized enterprises, Olujobi was appointed CFO.
Additionally, he will be crucial to the company’s five-year plan to onboard 30 million firms. Additionally, Moniepoint intends to extend its company management, banking, foreign exchange (FX), credit, and digital payments services throughout Africa.
A statement from 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 the business and personal banking segments and I believe it is on the cutting edge of delivering what the consumer craves—a secure, convenient, and easy platform to manage their financial lives. Moniepoint is right at the forefront of this movement,”.
His hiring follows a pattern in which leading fintech companies hire people from other fintechs and banks. Top talent from banks and other fintechs has been stolen by Moniepoint and other fintechs as they have increased compliance hiring since April.
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