The Chief Executive Officer of Moniepoint, Tosin Eniolorunda, has sounded a stark warning over what he describes as a deepening talent crisis in Nigeria, revealing that the company is struggling to fill about 500 vacant roles due to a shortage of qualified candidates.
Speaking at an event in Lagos on May 1, Eniolorunda said the fintech firm’s deliberate shift to hiring exclusively within Nigeria has exposed significant gaps in both the quality and quantity of available talent.
“We made a decision that we will no longer hire from any other place than Nigeria. If you go to Moniepoint career website, we have maybe 500 vacancies and we are struggling to find people to fill those roles,” he said.
He stressed that the challenge goes beyond the number of applicants, noting that many candidates fall short of the company’s expectations.
“Not only could we not find people at the quality and the quantity we needed, the few people that we found were not up to the global standards that we need,” he added.
Eniolorunda explained that as a company operating in a highly competitive global market, Moniepoint requires top-tier professionals to remain relevant and innovative.
“We are not competing with just local players. I’m competing globally. I need to make sure that I have world-class people working in the organisation,” he said.
The CEO attributed the widening talent gap to structural challenges, particularly weaknesses in Nigeria’s education system, as well as shifting societal values among young people.
“I used to feel like Nigerians are really, really bright, but I’m beginning to feel like we need to do something,” he said, pointing to environmental and social influences shaping attitudes and career aspirations.
He also raised concerns about the growing attraction to internet fraud and quick-money culture, warning that it is undermining long-term professional development.
“The level that people are reasoning in this country is not as high as it used to be,” he said.
Eniolorunda further identified the continued migration of skilled professionals—popularly known as “japa”—as a major contributor to the talent shortage, draining the country of experienced and capable workers.
He called for urgent and deliberate investment in human capital development, urging stakeholders to promote sustainable career paths and provide stronger role models for young Nigerians.
“In a country of over 200 million people, there are many alternatives to becoming a ‘big boy’ or chasing quick money,” he said.
His remarks add to growing concerns among business leaders about Nigeria’s workforce readiness, as companies grapple with balancing rapid growth ambitions against a shrinking pool of qualified talent.
