Tosin Eniolorunda, the Chief Executive Officer of Moniepoint, has come under intense criticism following remarks suggesting that Nigeria lacks sufficient qualified talent to meet the company’s hiring needs.
- +Moniepoint CEO faces backlash over claim on Nigerian talent shortage
Eniolorunda had disclosed that the fintech firm, which made a strategic decision in 2024 to recruit only Nigerians, has struggled to fill hundreds of roles.
Eniolorunda had disclosed that the fintech firm, which made a strategic decision in 2024 to recruit only Nigerians, has struggled to fill hundreds of roles. According to him, despite an estimated 500 vacancies, the company has been unable to find candidates that meet its required quality and quantity.
“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, adding that even the few candidates identified were “not up to global standards.”
The comments have since sparked widespread debate with many industry stakeholders questioning both the accuracy and implications of the claims.
Leading the pushback is the Alliance for Economic Research and Ethics LTD/GTE, which challenged the assertion that qualified Nigerians are unavailable.
In a statement signed by its chairman, Dele Kelvin Oye, the group described the claim as inconsistent with available data and potentially damaging to the country’s workforce reputation.
According to the organisation, a review of Moniepoint’s publicly listed openings shows significantly fewer roles than the 500 cited by the CEO, raising concerns about transparency in the company’s hiring narrative.
“We approach this discourse with three fundamental obligations: to the truth, to the millions of young Nigerians whose dignity and professional competence are implicated, and to the ethical standards that must govern corporate narratives in our economy,” Oue said in the statement.
“Transparency in hiring is not a corporate luxury; it is an ethical obligation. For a firm licensed by the Central Bank of Nigeria (CBN) and entrusted with the financial data of millions, opaque recruitment narratives undermine public trust.”
The group argued that Nigeria’s challenge lies not in a lack of talent, but in gaps within the talent development pipeline.
It pointed to the country’s growing pool of software developers and the global success of Nigerian-founded fintech firms as evidence of existing capacity, while acknowledging that a shortage of senior, industry-ready professionals persists.
The group attributed this gap to systemic issues including limited internship opportunities, inadequate mentorship structures, and the continued migration of skilled professionals abroad.
Eniolorunda, in his remarks, had also highlighted broader societal concerns, linking declining talent quality to weaknesses in the education system and shifting social values.
He expressed worry over the influence of social media trends and illicit income pursuits on young Nigerians’ mindset.
“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.
However, the Alliance cautioned against framing the issue as a national deficiency, stressing that such generalisations risk discouraging young professionals and undermining confidence in Nigeria’s tech ecosystem.
Instead, it called on Moniepoint to take a more active role in talent development by expanding internal training programmes, strengthening partnerships with academic institutions, and creating structured pathways for entry-level professionals to gain industry experience.
The organisation also urged the Central Bank of Nigeria to ensure fintech firms uphold local content obligations, while calling on the Federal Government to accelerate initiatives such as digital skills development and industry-academia collaboration.
Eniolorunda’s remarks also triggered strong reactions across social media, particularly on X, where users have shared contrasting experiences about Moniepoint’s recruitment process and Nigerian tech talent.
“This isn’t a talent problem. It’s a hiring process problem,” he stated.
Another user pushed back on that position, arguing that while Nigerian talent exists, it is not yet available at scale in highly specialized areas. The user noted that certain advanced production environments, such as large-scale live event engineering, are still limited in Nigeria compared to countries like the United Kingdom.
“The reality is Nigeria does not have enough high-level talent at scale,” the user wrote, adding that the gap is largely driven by environmental and systemic constraints rather than individual ability.
A third user, identified as Mayson Taylor, shared a personal experience, saying their interview experience with Moniepoint was discouraging. They claimed that after being rejected, they went on to work at a top bank as a Solutions Architect, later resigning for another role in a leading tech firm.
“After I did an interview with them, I was down and I promised never to apply again,” the user said.
