In Lagos, Nigeria, Moniepoint is grappling with a pressing issue: the company has 500 job openings it cannot fill due to a critical shortage of qualified talent. Tosin Eniolorunda, the CEO of Moniepoint, has voiced concerns about this talent gap and its implications for the company’s operations.
The situation began to intensify in early 2026. Eniolorunda noted that despite their efforts to hire locally, they found that many candidates did not meet the global standards required for the roles. “We made a decision that we will no longer hire from any other place than Nigeria,” he stated. This commitment underscores their desire to invest in local human capital development.
However, the challenge remains daunting. The quality of candidates available is lacking. Eniolorunda explained, “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.” This discrepancy raises questions about the effectiveness of Nigeria’s education system and its ability to prepare students for today’s job market.
That context matters because it reflects broader societal issues. The term “japa”—which refers to the trend of skilled professionals migrating from Nigeria—illustrates a growing concern about local talent retention. Many young professionals are seeking opportunities abroad rather than staying to develop their careers in Nigeria.
In addition to these challenges, incidents like Uchenna Akpa’s mistaken transfer of N1.67 million to a Moniepoint account highlight operational vulnerabilities within financial institutions in Nigeria. This particular error took 19 months to resolve, indicating potential inefficiencies that may deter both customers and prospective employees.
Eniolorunda pointed out that societal values are shifting as well. He remarked, “The level that people are reasoning in this country is not as high as it used to be.” In a country with over 200 million people, many alternatives exist for young individuals seeking quick financial success—often leading them away from traditional career paths and into avenues like internet fraud.
The implications of this talent shortage extend beyond Moniepoint. It affects various sectors across Nigeria’s economy and hampers overall growth potential. With a population rich in diversity and potential, addressing these educational and developmental gaps is crucial for fostering a robust workforce.
The road ahead will require concerted efforts from both the private sector and educational institutions in Nigeria. As Moniepoint continues its search for qualified talent, it serves as a bellwether for other companies facing similar challenges amidst an evolving economic landscape.