The Chief Executive Officer of fintech firm Moniepoint, Tosin Eniolorunda, has sparked widespread outrage after claiming the company is struggling to fill over 500 job vacancies due to a shortage of suitably skilled Nigerian talent.
In a recent speech, Eniolorunda said Moniepoint, which operates in a highly competitive global fintech environment, requires workers who meet international standards but has found it difficult to source such talent locally.
He attributed the challenge to gaps in the education system, distraction from social media, and what he described as a growing “get-rich-quick” mentality among young Nigerians.
Eniolorunda also referenced concerns about internet fraud culture, popularly known as “Yahoo Yahoo,” and a preference for fast earnings over long-term professional development.
Despite the current challenges, Eniolorunda highlighted ongoing efforts by the private sector to address the deficit. He cited Moniepoint’s talent development initiatives, including the DreamDevs programme, which trains young engineering graduates, as well as collaborations with government programmes such as the 3 Million Technical Talent (3MTT) initiative.
The company has also partnered with innovation hubs, including NITHUB at the University of Lagos, and runs a Women in Tech internship programme aimed at expanding opportunities for female professionals in the technology sector. In addition, scholarship programmes targeting STEM students across Nigerian universities are being implemented to strengthen the future talent pipeline.
“We must tell ourselves the truth. Nigeria does not have enough highly skilled technical talent resident in the country to build companies that can scale globally,” he said.
The comments triggered strong backlash on social media, with many Nigerians rejecting the skills-gap narrative and pointing instead to poor salaries and working conditions.
“That you can’t find 500 people to fill roles is bullshit. He should just say he can’t find people who will take a mountain of work for shitty salaries,” one user reacted.
Another critic questioned the company’s recruitment approach: “Are they even targeting the right people? How does hookup and Yahoo lifestyle become the reason you can’t fill 500 vacancies?”
A third commenter argued that talent exists and can be trained: “There’s nothing special in what your company is doing. Bring a school cert and train him, they will still deliver. Talk less of graduates.”
The controversy has ignited a broader debate about youth employability, the quality of Nigeria’s education system, and the tension between employers’ expectations and compensation in the private sector.
“No organisation can rise above the quality of its output. Execution is everything, and it depends on the strength of talent,” he said.
Moniepoint continues to expand its operations across Africa’s fintech space, but the CEO’s remarks have highlighted deep frustrations over unemployment and perceived unfair hiring practices among young Nigerians.
