Nigerian Startup TruQ Co-founder Williams Fatayo Steps Down as CEO

Nigerian logistics startup TruQ has announced a major leadership change as TruQ co-founder Williams Fatayo steps down as CEO after five years at the helm. Fatayo revealed his decision in a detailed Medium post on July 12, 2025, although company records indicate he actually left the CEO role in February 2025. This move marks the end of an era for the startup he helped build from the ground up in 2020.

Williams Fatayo, along with Folusho Ojo and Isaac Chikutukutu, co-founded TruQ to solve short-haul logistics challenges by automating truck and cargo transport. The company initially targeted individual consumers but later shifted focus to business clients, which now make up about 90% of its trips and 65% of its revenue. TruQ has attracted investment from notable backers such as Google for Startups, Techstars, and Ajim Capital, reflecting its potential in the logistics sector.

The reason behind Williams Fatayo stepping down as CEO stems from ongoing conflicts with co-founder and Chief Operating Officer Folusho Ojo. Fatayo cited disagreements over leadership and operational issues, particularly concerning Ojo’s performance. He mentioned that tensions escalated after he suggested bringing in a more experienced logistics professional to replace Ojo in her role. In response, Ojo organized a shareholders’ meeting to vote on Fatayo’s removal as CEO. However, no final decision was reached because one shareholder abstained from voting, and the company lacks a formal board to mediate such disputes.

Fatayo emphasized that despite this recent fallout, he and Ojo had a strong working relationship in the past. He credited Ojo for her crucial role in managing early operations when the startup was still run on basic tools like Excel sheets. He acknowledged her instrumental contribution to TruQ’s growth but explained that the differences had become irreconcilable.

Following his resignation, TruQ co-founder Williams Fatayo steps down as CEO but will remain involved with the company by retaining a board seat and holding some shares, although he plans to sell part of his equity in the coming weeks. Fatayo expressed confidence in Ojo’s ability to lead the company forward and stated he was ready to step aside once TruQ reached product-market fit. He also mentioned seeking spiritual guidance before making this difficult decision.

In a public statement, TruQ responded to Fatayo’s Medium post by addressing inaccuracies and highlighting that the leadership transition began in February 2025 due to serious concerns about financial accountability and governance. The company said it has since strengthened internal controls and oversight. Ojo, now the CEO, declined to comment directly but referred inquiries to this official statement.

The departure of a founding CEO like Williams Fatayo naturally raises questions about the future stability and direction of TruQ. Investors, employees, and industry watchers will be closely monitoring how the company navigates this leadership shift. Despite the internal challenges, TruQ remains a promising player in Nigeria’s logistics technology space, having evolved through several phases, from a simple platform connecting truck operators to a super-app offering advanced logistics and financial services for commercial fleets.

TruQ co-founder Williams Fatayo steps down as CEO amid leadership disagreements with co-founder Folusho Ojo. Fatayo’s exit follows unresolved conflicts and a shareholders’ meeting that failed to resolve the dispute. While he steps back from daily operations, Fatayo will keep a board role and some ownership, trusting Ojo to guide TruQ’s next chapter. The company has acknowledged governance concerns but is working to improve its internal processes as it moves forward under new leadership.

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