Oluwatobi Boshoro Resigns as CEO of Nigeri’s Top Fintech Company, Renmoney

Exactly ten months after her appointment, Oluwatobi Boshoro has resigned from her position as the Managing Director/ Chief Executive Officer (CEO) of Renmoney Microfinance Bank Limited.

Renmoney MFB disclosed her resignation in a statement signed by the Company Secretary, Igbiwi, on July 29, 2019. According to the statement, the resignation follows a decision to step away while she attends to personal matters.

In the meantime, the statement also claims that Mr Kieran Donnelly would renounce his position as the Chairman of the Board of Directors, and will lead as the Acting Chief Executive Officer, until a permanent CEO is appointed.

Renmoney is a fintech lending company which operates under a microfinance banking license in Lagos, Nigeria. It provides loans to small businesses and individuals through its contact centre, website, branches and agent network.

It also offers market-leading rates on savings accounts and fixed deposits. It is regulated by Central Bank of Nigeria (CBN), and is insured by the Nigeria Deposit Insurance Corporation.

Boshoro worked with the Renmoney team to move the company forward by leaps and bounds while she served as the CEO. Under her leadership, the company recorded profit which resulted in their relocation to a bigger office space. It also grew to be known as one of the most popular non-banking lenders in Nigeria.

Renmoney also established mobile experience centres across Lagos state to make its services and operations available to more people. The company has about N170 billion in fixed deposit inflows, and has provided over 200,000 loans to small businesses and individuals in Nigeria.