Flutterwave Appoints Former Central Bank of Nigeria Director As Board Chair

Flutterwave has appointed Dipo Fatokun as the new Chairman of Flutterwave Technologies Solutions Limited. He brings a comprehensive regulatory understanding and supervisory experience to solidify Flutterwave’s dedication to upholding the highest regulatory, compliance, and governance standards.

Mr Fatokun’s over 30 years of experience covers multiple competencies in banking services, finance, strategy, advisory, leadership, and management in both the public and private sectors. As a Director at CBN, oversaw key initiatives such as the Cashless Nigeria Initiative, the Bank Verification Number project, and the  Treasury  Single  Account  (TSA) for the Federal Government and automating the foreign currency payments for the Central Bank’s internal and external customers. His expertise will enhance Flutterwave’s commitment to the ecosystem’s best practices as the company moves ahead on its next growth journey.

Also joining the board is Tosin Faniro-Dada,  a distinguished ecosystem builder and investor empowering tech founders across Africa, as an Independent Non-Executive Director. With more than 17 years of experience in finance, specializing in corporate banking and investment management, Tosin’s career started with auditing mutual and private equity funds at PwC in Boston. Now a Partner at Breega, one of the fastest-growing early-stage VC funds in Europe and Africa, she supports founders in solving significant economic and social challenges. Her wealth of knowledge, solid expertise, and passion for the ecosystem will contribute to Flutterwave’s unmatched role as an enabler for tech startups across Nigeria. 

Welcoming the new board chair, and the non-executive director, Olugbenga “GB” Agboola, CEO and Founder of Flutterwave, said: “As a company, we’ve gone through different organizational changes in our growth journey, but one thing remains steadfast – our commitment to maintaining the highest regulatory and operational standards. I am particularly excited to welcome Dipo Fatokun and Tosin Faniro-Dada to Flutterwave. Their combined experience and expertise will be invaluable as we continue supporting the creation of a well-regulated ecosystem and conducive environment for tech companies to thrive.”

Mr Fatokun has been a member and chairman on more than 5 boards in the last decade. Presently, he chairs the Board Audit and Governance Committee of United Capital Plc. Additionally, he serves as the managing partner at Jasfolim Consulting, contributing to transforming Nigeria’s payment system via advisory services for public and private companies.

Commenting on the appointment, Dipo Fatokun stated: “I am pleased to be appointed as the new Chairman of Flutterwave Technologies Solutions Limited. The company plays a vital role in the fintech ecosystem across Africa. I’m looking forward to supporting the company’s goal of being a model fintech company that advances payment innovations while upholding the highest  regulatory and compliance standards.”

Mr Fatokun has been a member and chairman on more than 5 boards in the last decade. Presently, he chairs the Board Audit and Governance Committee of United Capital Plc. Additionally, he serves as the managing director at Jasfolim Consulting, contributing to transforming Nigeria’s payment system via advisory services for public and private companies.

“I am thrilled to join the team at Flutterwave Technologies Solution Ltd as a member of the Board of Directors,” says Tosin Faniro-Dada.  “The company’s commitment to innovation and its dedication to transforming the financial landscape aligns perfectly with my own passion for driving positive change in Africa. I look forward to contributing to the company’s strategic initiatives and playing a role in shaping its future success, she added.

This appointment closely follows Flutterwave’s recent compliance, regulatory, and risk-focused hires. In December 2023, the company announced many world-class executives, including Amanda Ortega, a former regulator with the State of Wyoming’s Division of Banking, as Head of Compliance, US.

Flutterwave will maximize Mr Fatokun’s board leadership and wealth of experience, alongside the expertise of those recent hires, to reinforce its culture of transparency, integrity, and accountability.