In a remarkable achievement, Dr. Mohammed Olatunji, the youngest bank CEO in Nigeria, has been awarded the 2025 Legit Business Award.
At just 35 years old, he has made significant strides in the fintech industry with his innovative bank, Moremonee, which has quickly become a leader in providing accessible financial services to Nigerians.
Key Takeaways
- Dr. Mohammed Olatunji, known as Dr. MO, became the youngest bank CEO in Nigeria at age 35.
- His bank, Moremonee, launched in 2023, has disrupted the microfinance sector with tech-driven solutions.
- Dr. MO received the 2025 Legit Business Award for his impactful leadership and the rapid growth of Moremonee.
A Journey of Innovation
Dr. Olatunji’s journey began in Kwara State, Nigeria, where he displayed an early aptitude for technology. By the age of 12, he was designing graphics, and by 18, he had taught himself coding.
After completing his education at the University of Ilorin and his National Youth Service Corps (NYSC), he founded Moremonee, a digital-first bank aimed at simplifying access to financial services.
His credentials are impressive, including being a Chartered Fellow of Financial Management and a cybersecurity expert. He has received numerous accolades, including the Nelson Mandela Leadership and Integrity Award and the Nigeria Most Respected CEO Award in 2021.
Moremonee’s Rapid Growth
Since its inception, Moremonee has become the fastest-growing microfinance institution in Nigeria. The bank’s app-based platform offers a variety of services designed to enhance user experience and accessibility:
- Money Transfers: Seamless and instant transactions.
- Savings: High-interest savings options through FutureBox.
- Bill Payments: Easy management of utility bills.
- Online Shopping: Integrated e-commerce solutions for users.
- Business Tools: MoreBiz allows entrepreneurs to set up digital shops.
In 2024, Moremonee achieved several milestones that set it apart:
- Strategic Alliances: Collaborated with NIBSS and CBN to launch Nigeria’s first domestic debit card.
- High Ratings: Achieved a 5-star rating on the Google Play Store, the first Nigerian financial app to do so.
- USSD Code Approval: Gained approval for a USSD short code to extend services to rural areas without internet access.
Looking Ahead: Ambitious Plans for 2025
As 2025 unfolds, Dr. Olatunji and his team are setting ambitious goals to further enhance customer satisfaction and social impact. Key initiatives include:
- Operation Feed the Nation: Aiming to tackle food insecurity across Nigeria.
- Expansion Plans: Targeting growth into other African markets where digital banking is still developing.
- Enhanced Services: Focusing on personalized banking tools to improve user experience.
Dr. Olatunji emphasizes the importance of creating value and adapting to challenges, stating, “We’re not just building a financial app—we’re building a financial revolution that works for every Nigerian, no matter their location or income level.”
With his visionary leadership and commitment to ethical entrepreneurship, Dr. Mohammed Olatunji is poised to continue making waves in the fintech industry, inspiring a new generation of entrepreneurs in Nigeria and beyond.
