The backdrop of this situation is troubling. Nigeria, with a population exceeding 200 million people, should ideally have a wealth of skilled professionals. However, Eniolorunda pointed out that the quality of candidates does not meet global standards. He attributes this talent gap to structural issues within Nigeria’s education system and shifting societal values that often prioritize quick financial gains over long-term career development.

That context matters because it sheds light on why many young Nigerians are drawn to alternatives like internet fraud—an appealing option for those seeking immediate financial success. “In a country of over 200 million people, there are many alternatives to becoming a ‘big boy’ or chasing quick money,” Eniolorunda remarked, emphasizing how these societal pressures can divert attention from legitimate career paths.

Moreover, the phenomenon known as “japa,” referring to the migration of skilled professionals seeking better opportunities abroad, exacerbates the situation. This trend not only drains Nigeria of its human capital but also leaves companies like Moniepoint scrambling for talent that is both competent and available.

Eniolorunda expressed his concerns during an event called The Platform Nigeria, where he underscored the urgent need for investment in human capital development. Without addressing these underlying issues within the education system and societal values, local hiring efforts will continue to falter.

The path forward is clear yet challenging. As Nigeria grapples with these systemic problems, companies must find innovative ways to cultivate homegrown talent while fostering an environment that encourages young people to pursue meaningful careers rather than quick fixes. The future of Nigeria’s workforce depends on it.

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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.

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