Moniepoint Founder Raises Alarm Over Talent Shortage

By Babatunji Wusu

Moniepoint founder Tosin Eniolorunda has stirred debate after revealing the company’s struggle with the Nigerian talent shortage, despite hundreds of open roles. Speaking openly, he explained that the fintech firm made a bold decision in 2024 to hire only Nigerians, but the outcome proved difficult.

“In 2024, we made a decision that we will no longer hire from any other place than Nigeria. And we chopped the cane in 2025,” he said. According to him, moniepoint now has around 500 vacancies, yet filling them remains a major challenge. “Not only could we not find people at the quality and the quantity we needed them, the few people that we found were not up to the global standards,” he added.

Eniolorunda noted that the Nigerian talent shortage becomes more serious when placed in a global context. “I’m competing globally, my biggest competition, they are from China,” he said, stressing the pressure on local firms to match international standards.

He pointed to deeper structural issues, especially within the education system and changing social values. “I used to feel like Nigerians are really, really bright, but I am honestly beginning to feel like we need to do something to prevent the general IQ of this country from going lower,” he said. He also criticised the growing influence of social media and trends like “Yahoo Yahoo” and “h@okup culture”, adding, “The level that people are reasoning in this country is not as high as it used to be.”

Despite these concerns, he remains hopeful that addressing the Nigerian talent shortage through better investment in skills and mindset can unlock the country’s potential.

What practical steps can Nigeria take to bridge its growing talent gap?