Moniepoint Microfinance Bank has announced the appointment of Bayo Olujobi as its Chief Financial Officer (CFO) to complement the bank’s visionary commitment to powering financial inclusion.
Bayo Olujobi joins Moniepoint MFB from Stanbic IBTC Bank (a member of Standard Bank Group), where he served as the Chief Financial Officer and also as a Non-Executive Director, Stanbic IBTC Capital.
According to the company, Bayo brings a wealth of experience and a proven track record in financial management, including financial and regulatory reporting, management accounting, compliance and capital management, and budgeting and strategy formulation as well as strategic leadership to the bank’s executive team.
Buoyed by the recent announcement of a Series C round, where its holding company, Moniepoint Inc successfully raised $110, Moniepoint MfB is solidifying its team to consolidate its position as a bank for small and medium-sized businesses in Nigeria.
Olujobi’s profile
With close to twenty years of experience in the financial sector, Bayo, who is a Certified Treasury Professional (CTP) has held various senior roles, demonstrating exceptional expertise in finance, business development & strategy and treasury management.
- His strategic vision and leadership have been instrumental in driving financial performance and operational efficiency at both Stanbic IBTC and Asset and Resource Management Company (ARM) where he previously worked.
- The CTP designation is the gold standard for competency in the finance profession and is recognized as the leading credential in corporate treasury worldwide which signposts that the individual can effectively execute critical functions related to corporate liquidity, capital and risk management.
- Bayo holds a Master of Business Administration, MBA from the Cranfield School of Management, UK as well as a Bachelor’s of Science Degree in Economics from the Lagos State University, where he finished as Best graduating student.
Olujobi’s financial expertise has also been globally acknowledged as the recipient of the 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 respectively.
What they are saying
Commenting on the appointment, the Group CEO of Moniepont Inc., Tosin Eniolorunda, said:
“We are delighted to welcome an accomplished and business-savvy professional like Bayo to the Moniepoint family.
“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. Bayo’s leadership will undoubtedly strengthen our financial operations and support our long-term goals.”
Bayo Olujobi also reacted to his appointment stating, “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.”
What you should know
Moniepoint Inc. recently raised $110 million in Series C funding, which many believe has now made the company one of Africa’s unicorns.
The finding was led by Development Partners International, with other investors like Google’s Africa Investment Fund, Verod Capital, and Lightrock,
According to the company, the capital raised would be used to accelerate Moniepoint’s growth across Africa, building an all-in-one, seamlessly integrated platform for African businesses.
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