Flutterwave, currently Africa’s most valuable startup, has announced the appointment of Dipo Fatokun, a former director of the Central Bank of Nigeria (CBN), as its new chairman of the board. This move is in line with Flutterwave’s mission to maintain high standards of regulation, compliance, and governance.
Fatokun has considerable experience serving on boards and chairing them, with involvement in more than five boards over the past ten years. He is currently the chair of the audit and governance board at United Capital.
In his previous role at CBN, Fatokun spearheaded several significant initiatives such as the Cashless Nigeria Initiative, the Bank Verification Number (BVN) project, and the Treasury Single Account (TSA) for the Federal Government. His other contributions include leading automation efforts for foreign currency payments for the Central Bank’s customers, both internal and external.
Flutterwave has further strengthened its board by appointing Tosin Faniro-Dada as an independent non-executive director. Faniro-Dada is currently a partner at Breega, a venture capital fund that invests in early-stage companies in Europe and Africa.
Flutterwave’s CEO and Founder, Olugbenga Agboola, stated that despite various organisational changes throughout their evolution, the company’s commitment to upholding the highest standards of regulation and operation remains unwavering.
This announcement comes on the heels of Flutterwave appointing five new executives in its risk, compliance, and expansion departments three months ago. Additionally, the company included renowned Nigerian architect Olajumoke Adenowo to its board two weeks ago, as part of its international expansion strategy.
Reiterating his enthusiasm to support Flutterwave in advancing payment innovations, while also maintaining high standards of regulation and compliance, Dipo Fatokun said, “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”.
