Founder of Moniepoint, Tosin Eniolorunda, has sparked conversation online after opening up about the company’s struggle to find qualified Nigerian talent despite hundreds of job openings. Speaking candidly, Eniolorunda revealed that the fintech made a bold move in 2024 to hire only Nigerians, but the outcome has been tough.
“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, the company currently has about 500 vacancies but is struggling to fill them.
“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. The tech boss stressed that the challenge goes beyond local competition, noting: “I’m competing globally, my biggest competition, they are from China.”
Eniolorunda didn’t hold back in pointing fingers at systemic issues, particularly Nigeria’s education system and shifting 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, expressing deep concern.
He also blamed rising social media influence and trends like “Yahoo Yahoo” and “h@okup culture” for shaping the mindset of young people. “The level that people are reasoning in this country is not as high as it used to be,” he lamented.
Despite the criticism, Eniolorunda maintained that Nigerians still have potential, urging a reset in values and investment in human capital. “We have it in us, all we just need to do is develop our human capital and change this mentality,” he said, while also pointing to brain drain as a major challenge.