Moniepoint, the Nigerian fintech that not too long ago raised $110 million at a billion-dollar valuation, has appointed Bayo Olujobi because the Chief Monetary Officer (CFO) of Moniepoint MFB, certainly one of its subsidiaries. He joined the corporate in March 2024, based on two folks conversant in the matter.

Olujobi, who has about 20 years of expertise in finance, joined Moniepoint from Stanbic IBTC Financial institution, the place he was CFO. He was additionally a non-executive director at Stanbic IBTC Capital, the funding arm of Stanbic IBTC Holdings. 

Olujobi’s appointment as CFO comes eight months after the MFB partnered with the nation’s Company Affairs Fee (CAC) to digitise operations for two million small and medium companies.  He may also play a big position within the firm’s purpose to onboard 30 million companies over the subsequent 5 years. Moniepoint additionally plans to broaden its digital funds, banking, international alternate (FX), credit score, and enterprise administration instruments throughout Africa.

“I’m actually excited to have the chance to hitch Moniepoint right now. The financial institution has developed an unparalleled buyer proposition throughout the enterprise and private banking segments and I consider it’s on the reducing fringe of delivering what the buyer craves—a safe, handy and simple platform to handle their monetary lives. Moniepoint is true on the forefront of this motion,” Olujobi stated in a press launch seen by TechCabal.

His appointment continues a pattern of high fintech startups tapping up skills from banks and different fintechs. Since April, Moniepoint and different fintechs have ramped up compliance hiring, poaching high expertise from banks and different fintechs. 

Editor’s notice: An earlier model of this text erroneously acknowledged that Olujobi was a non-executive director at Stanbic IBTC financial institution.