Moniepoint Appoints Bayo Olujobi As Chief Financial Officer

Moniepoint Microfinance Bank has announced the appointment of Mr. Bayo Olujobi as its new Chief Financial Officer (CFO), a move that aligns with the bank’s commitment to broadening financial inclusion in Nigeria.

Mr. Olujobi, a seasoned financial executive, transitions to Moniepoint from Stanbic IBTC Bank (a subsidiary of Standard Bank Group), where he served as CFO and a Non-executive Director of Stanbic IBTC Capital.

According to Moniepoint, Mr. Olujobi’s arrival bolsters the bank’s leadership team with his extensive expertise in financial management, regulatory reporting, compliance, and capital strategy. His financial acumen, honed over nearly two decades, is expected to play a key role in Moniepoint’s mission to support small and medium-sized enterprises (SMEs) in Nigeria.

Mr. Olujobi is a Certified Treasury Professional (CTP), a designation recognised globally as a benchmark for excellence in corporate treasury. With previous leadership roles at Stanbic IBTC and Asset and Resource Management Company (ARM), he has consistently demonstrated his ability to drive financial performance and operational efficiency. His accomplishments in the industry include prestigious awards, such as Financial Services CFO of the Year (West Africa) and Most Innovative Financial Services CFO (Africa) at the Acquisition International Global CFO Excellence Awards in 2021 and 2022.

Also, Mr. Olujobi holds a Master of Business Administration (MBA) from Cranfield School of Management, UK, and a Bachelor’s degree in Economics from Lagos State University, where he graduated as the top student in his class.

Commenting on the appointment, Mr. Tosin Eniolorunda, Group Chief Executive Officer of Moniepoint Inc., expressed enthusiasm about having Mr. Olujobi join the executive team. “We are delighted to welcome an accomplished and business-savvy professional like Bayo to the Moniepoint family,” said Mr. Eniolorunda.

“His extensive experience in traditional banking and strategic insight as an innovative thought leader will be invaluable as we continue to grow, innovate, and consolidate our market leadership in the financial services industry.”

Mr. Olujobi also shared his excitement about the opportunity, noting: “I am thrilled to join Moniepoint at such a transformative time. The bank’s commitment to delivering secure, convenient, and accessible financial solutions places it at the forefront of meeting consumers’ needs across both business and personal banking.”

Moniepoint Inc. recently raised $110 million in a Series C funding round, solidifying its position as one of Africa’s fastest-growing financial services companies and potentially a new member of the continent’s unicorn club. The funding, led by Development Partners International with participation from Google’s Africa Investment Fund, Verod Capital, and Lightrock, is intended to fuel Moniepoint’s expansion across Africa, with a focus on building an integrated platform that serves the financial needs of African businesses.

With Mr. Olujobi’s appointment and additional capital, Moniepoint is well-positioned to expand its reach, support SMEs, and strengthen financial inclusion across Nigeria and beyond.