Flutterwave Appoints Former CBN Director as New Board Chairman

In a strategic step to improve its management and enhance collaboration within the industry, Flutterwave, the top payments technology company in Africa, has named Dipo Fatokun, a former CBN Director, as its new Board Chairman.

Fatokun’s appointment shows Flutterwave’s strong dedication to maintaining high regulatory norms and promoting a strong financial environment in Africa.

With his vast experience in finance and demonstrated leadership skills, he is well-suited to lead Flutterwave in its future expansion.

A Vast Experience for an Energetic Position

The former CBN Director, Fatokun, has more than 30 years of experience in finance, advisory, and leadership roles in both public and private sectors.

He has a strong history of driving important initiatives and has been influential in shaping Nigeria’s financial sector.

While working at the CBN, Dipo Fatokun led several projects that changed the financial services industry.

He was particularly important in the Cashless Nigeria Initiative, which encouraged electronic payments.

He also helped establish the Bank Verification Number (BVN) system to fight financial fraud and improve customer security.

Strengthening Cooperation Between Industry and Regulations

The selection of Fatokun highlights Flutterwave’s dedication to nurturing close partnerships with regulatory authorities.

His profound grasp of the financial regulatory structure will play a crucial role in guaranteeing that Flutterwave’s activities harmonize effortlessly with set protocols.

This tactical decision places the organization in a favorable position to adeptly maneuver through the changing regulatory environment while upholding top-notch corporate governance principles.

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A Clear Message of Continued Growth

Commenting on the appointment, Olugbenga Agboola, Founder and CEO of Flutterwave, remarked, “We are thrilled to welcome Mr. Fatokun to the helm of our Board. His exceptional expertise and proven leadership will be instrumental in guiding Flutterwave through its next chapter of growth. We are confident that his insights and strategic vision will be invaluable as we continue to innovate and deliver secure, seamless payment solutions across Africa.”

Expanding on a Solid Base

Fatokun was appointed following several important decisions by Flutterwave to strengthen its leadership team and governance structure.

In December 2023, the company hired five new top executives for key roles like risk management, compliance, and global expansion.

Also, the appointment of Olajumoke Adenowo, a well-known architect and business leader, to the Board enhances the company’s emphasis on strategic growth and international expansion.

Looking Forward

With Fatokun leading and the new Board’s expertise, Flutterwave is in a good position to strengthen its role as a key player in influencing Africa’s digital payment environment.

The company’s strong focus on following regulations and efforts to promote financial access throughout the continent set the stage for a positive future.