Former CBN director and ecosystem builder join Flutterwave's board

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March 14, 2024
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2 min read
Tosin Faniro-Dada and Dipo Fatokun
  • Flutterwave has appointed Dipo Fatokun, a former Director of the Central Bank of Nigeria (CBN), as its new Chairman.
  • The fintech has also named Tosin Faniro-Dada, an ecosystem developer and investor, as an independent non-executive director.
  • The news comes two weeks after the unicorn appointed Olajumoke Adenowo as its first independent non-executive board member. 

Fatokun, who has served on over five boards as a member and chair, brings over 30 years of experience in finance, advisory, leadership, and management in the public and private sectors to Flutterwave.

As a director at the CBN, he pioneered the Cashless Nigeria Initiative, the Bank Verification Number project, and other automation initiatives for CBN customers.

He is known to have a robust regulatory understanding and experience in supervising, which will help Flutterwave on its path to establishing the highest regulatory, compliance, and governance standards.

Following the appointment, Fatokun said, “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.”

Tosin, the newly appointed non-executive director, has over 17 years of finance experience, primarily in corporate banking and investment management, and has a portfolio extending beyond Nigeria.

Flutterwave intends to bolster its standing in Nigeria's tech startup scene by using her knowledge and experience to empower and assist tech founders.   

Following the appointment, Tosin expressed that Flutterwave's goals align with hers. “I look forward to contributing to the company’s strategic initiatives and playing a role in shaping its future success,” she said.

Commenting on the new appointments, Olugbenga “GB” Agboola, CEO and Founder of Flutterwave, acknowledged the firm is committed to maintaining the highest regulatory and operational standards, adding that “the combined experience and expertise of the new appointees will be invaluable as the firm continues to support the creation of a well-regulated ecosystem and conducive environment for tech companies to thrive.”

While Flutterwave ramps up its efforts to fill new leadership positions, executive members of the company are stepping down. Bode Abifarin, Flutterwave's former COO, recently left the company after six years. Meanwhile, she resigned four months after three other finance executives left the fintech.

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