Moniepoint Microfinance Bank, recognized by The Financial Times as Africa’s fastest-growing financial institution, has appointed Mr. Bayo Olujobi as Chief Financial Officer (CFO). This strategic hire aligns with Moniepoint’s ongoing mission to drive financial inclusion across Africa, particularly for small and medium-sized businesses.
Bayo Olujobi, who joins from Stanbic IBTC Bank, brings close to two decades of experience in financial management, including expertise in regulatory compliance, budgeting, strategy formulation, and treasury management. His accomplishments include serving as CFO and Non-Executive Director at Stanbic IBTC Capital, where he played a critical role in business development and operational efficiency. Olujobi is also a Certified Treasury Professional (CTP), a designation that signals high competency in corporate treasury and financial risk management.
Moniepoint, buoyed by a recent Series C funding round of $110 million led by Development Partners International with participation from Google’s Africa Investment Fund, Verod Capital, and Lightrock, continues to solidify its leadership in providing comprehensive banking solutions for SMEs. In 2024, Moniepoint and Nigeria’s Corporate Affairs Commission (CAC) embarked on a nationwide initiative to help over 2 million SMEs formalize operations and access capital. Since entering the personal banking market in 2023, Moniepoint has seen a 2,000% growth in personal finance customers, reflecting a robust demand for its innovative services.
Tosin Eniolorunda, CEO of Moniepoint Inc., commented,
“We are delighted to welcome an accomplished professional like Bayo to the Moniepoint family. His blend of traditional banking experience and strategic foresight will be invaluable as we continue to innovate and strengthen our market leadership.”
Bayo Olujobi expressed his enthusiasm about joining Moniepoint, noting,
“The bank has developed an unparalleled customer proposition across both business and personal banking. I am excited to contribute to an institution that is truly at the forefront of digital financial services.”
Babatunde Olofin, Managing Director of Moniepoint MFB, added,
“Bayo’s track record in delivering value in high-growth environments makes him an exceptional fit. I look forward to working together to drive our next phase of growth.”
With a Master of Business Administration from Cranfield School of Management, UK, and a Bachelor’s in Economics from Lagos State University, where he was awarded Best Graduating Student, Bayo Olujobi’s addition to the Moniepoint leadership team is expected to further reinforce the bank’s dedication to financial innovation and operational excellence across Africa.
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