Bode Abifarin, has recently announced her resignation as the chief operating officer (COO) of Flutterwave, a fintech company, following the departure of three other finance executives four months prior. Abifarin, who has been a crucial part of Flutterwave for the past six years, has decided to shift her focus towards empowering future generations of entrepreneurs, a cause she passionately believes in.
Prior to joining Flutterwave, Abifarin had spent over 15 years with KPMG Nigeria before taking a courageous leap in 2018 to join the fintech startup as its chief operating officer. During her tenure, she played a pivotal role in guiding the company on its transformative journey. A noteworthy achievement during her time with the company was in March 2021, when Flutterwave garnered attention by raising $170 million in a Series C funding round, pushing its valuation over the billion-dollar mark.
Abifarin’s decision to step down marks the start of a new milestone in her professional journey, where she is driven by the purpose of promoting the future of entrepreneurship on a global scale. Her reason to leave the company roots from her aim to concentrate on educating, inspiring, and mentoring upcoming business leaders.
Bode Abifarin, a seasoned professional with a rich background, has shared her plans on LinkedIn regarding her intention to use her expertise, voice, and writing skills to empower others. She aims to facilitate the growth of startups through education and mentoring.
This development comes after a string of resignations at Flutterwave. Oneal Bhambani, the company’s former CFO, announced his departure from the company on LinkedIn in November 2023, alongside Oscar Lan, the previous Global Head of Strategic Finance and FP&A, and Rebecca Mendel, Controller, who had been with the company for a year and a half.
Their exit came just weeks after investigative journalist David Hundeyin disclosed documents revealing that Flutterwave’s founders had been the focus of a fraud investigation in 2017.
In May 2022, the company appointed Bhambani, a former CFO at American Express, as Flutterwave’s CFO. This occurred a month after the African fintech company face accusations of insider trading and fraud.
Two months following these allegations, Flutterwave was then accused of money laundering in Kenya. The Kenyan court granted permission to the Assets Recovery Agency (ARA) to freeze more than $40 million worth of Flutterwave’s accounts in response to these charges.
Following the accusations of money laundering, in July 2023, the Kenyan court denied the request of the anti-money laundering agency to withdraw the lawsuit against Flutterwave, the Nigerian fintech company. However, in a turnaround of events in November 2023, the Kenyan High Court granted the request of the Assets Recovery Agency (ARA) to dismiss the final lawsuit standing against Flutterwave.
