The Alliance for Economic Research and Ethics has challenged claims by Moniepoint that it has over 500 vacancies with no qualified Nigerians to fill them, describing the statement as misleading and not backed by evidence.

In a statement on Monday reacting to comments by Moniepoint Chief Executive Officer (CEO) Tosin Eniolorunda, the group said the claim “demands a response grounded not in emotion, but in evidence, ethics, and economic reality.”

According to the group, the company’s own hiring data does not support the claim.

It noted that a review of Moniepoint’s careers portal showed only between 79 and 83 open roles globally, many of them based in Nigeria.

“If 500 roles truly exist, why are they not publicly listed? Transparency in hiring is not a corporate luxury; it is an ethical obligation,” it stated.

The group argued that the issue is not a lack of talent in Nigeria but a gap in training and development.

It said the country has a fast-growing pool of software developers and has produced globally recognised fintech firms, showing that Nigerian professionals are capable.

“The question is not whether Nigerians are capable; it is whether the industry is willing to invest in cultivating that capability,” it added.

It also pointed to Moniepoint’s own example of training staff internally, noting that one of its customer support employees successfully transitioned into a software engineering role.

This, the group said, proves that “Nigerians can qualify when given the opportunity.”

While acknowledging that a skills gap exists, the group said it is a shared responsibility between government, schools, and companies.

It stressed that large firms like Moniepoint, which processes huge transaction volumes and serves millions of customers, should play a bigger role in building local talent rather than dismissing it.

“There is a profound ethical difference between stating, ‘We face a shortage of senior production engineers,’ and declaring, ‘There are no qualified Nigerians,’” the group said, warning that such statements damage the reputation of the country’s workforce.

The group called on Moniepoint to publish verifiable data to support its claims and to recommit to developing Nigerian talent.

It also urged the Central Bank of Nigeria (CBN) to enforce local content rules in the fintech sector and asked the government to strengthen training programmes.

It added that Nigeria’s tech talent “is not a myth” but a growing resource that needs investment, not dismissal.

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