Jobs/Appointments
Flutterwave Co-Founder Resigns for Family Reasons
By Modupe Gbadeyanka
One of the founders of foremost payments technology company, Flutterwave, Mr Iyinoluwa Aboyeji, has resigned from his position as chief executive officer.
With his exit from the firm, co-founder of Flutterwave, Mr Olugbenga Agboola, will replace him as the new CEO of the company.
In his farewell message, Mr Aboyeji explained that he was leaving the firm based on family reasons.
He specifically said his decision to quit as CEO of Flutterwave was mainly to pursue his family goals, thanking the team at Flutterwave for the cooperation given to him while he led the firm.
“Today will be my last day at Flutterwave. After much thought and prayer I decided to step down from my role as CEO and focus on giving back to the startup community I owe so much of my success to.
“Just a little over 2 years ago in May of 2016, myself and my co-founders at Flutterwave started on this unlikely and amazing journey to build payments technology and infrastructure that could connect Africa to the global economy and usher in a new wave of prosperity across Africa. We knew it would be an incredibly difficult and intriguing mission but we never imagined we would have the kind of impact we did so quickly.
“Two years later, the team at Flutterwave has built one of the world fastest growing payments business of all time from Africa, processing over N700 billion in payments across over 50 million transactions generating revenues in the billions of naira.
“Beyond its scale, its human impact has been profound, from connecting thousands of riders and drivers to daily enabling thousands of families in diaspora share prosperity with their love ones at home. It has been an incredible privilege to lead the team through an era of incredible growth and impact. I wouldn’t trade this experience for the world.
“This would have been impossible without the hard work and genius of the talented team of young people who are Flutterwave, the incredible support of our investors and advisors and the good will of so many who have been our biggest champions and advocates.
”Over the next few months, as I figure out what is next, I’ll be catching up on sleep, spending time with my family and supporting and advising start-ups in our community (more to come on that).
“Everyone who knows me well knows what matters most to me is my lifelong commitment to building the future of our country and our continent. As I take some time to rest and reflect on the incredible experiences I have had building two world class African success stories at Andela and Flutterwave – I am excited about the opportunities the future of our continent holds and I remain dedicated to supporting the next generation of entrepreneurs who will go on to build the next Andela’s and Flutterwave’s.
“Thank you for your love and support on this journey,” a statement issued by Mr Aboyeji said.
Reacting, the new CEO of Flutterwave, Mr Olugbenga Agboola, said, “On behalf of the entire Flutterwave team, we wish Iyin (Aboyeji) luck in his future endeavours.
“Moving forward, the entire Flutterwave team and I are excited for Flutterwave’s future and look forward to growing the company.”
Flutterwave is building modern payments technology and infrastructure for Africa with its solutions enabling banks and merchants to replace multiple payment integrations with one simple API, which enables processing of any form of payment anywhere in Africa.
Since its founding in May 2016, Flutterwave has processed over $2.3 billion in payments across 60 million transactions and partnered with Standard Bank, First Bank, Guaranty Trust Bank, Zenith Bank, Access Bank, United Bank for Africa, and Ecobank.
Flutterwave clients include Transferwise, Flywire, Booking.com, JumiaPay, and Uber, amongst others.
Few days ago, the firm announced that it had completed its Series A Extension round of financing, which included investments from MasterCard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others.
This made the total amount it has raised till date to over $20 million.
As part of the financing, current Green Visor Capital Chairman & General Partner and former Chairman and CEO of Visa, Mr Joe Saunders, joined the Flutterwave Board of Directors.
By Modupe Gbadeyanka
The former Governor of Ekiti State, Mr Ayodele Fayose, has been appointed by President Bola Tinubu as the chairman of the Rural Electrification Agency (REA), with immediate effect.
A statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Monday night said Mr Tinubu also made 25 other new appointments into 10 federal government agencies and commissions.
Also appointed was Major General Junaid Bindawa as chairman of the National Salary and Wages Commission.
On the board of REA are Mr Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta as members and non-executive directors. The incumbent DG of the agency, Abba Abubakar Aliyu, and three executive directors previously appointed make up the remaining board members.
President Tinubu made eight other appointments to the Wages Commission, along with Mr Bindawa. Former member of the House of Representatives from Lagos, Olajumoke Okoya-Thomas, is the new secretary of the commission. Dr Ogbole Ene Lilian, Oladele Olatubosun, and Yakubu Umar Barde, representing Benue, Oyo and Kaduna, were appointed as commissioners.
Dr Mai Adamu Yau, from Borno, Ginika Florence Tor (Enugu), Engineer Lawrence Okoh (Edo) and Bello Morenike Iyabode (Kogi) were appointed as members of the commission.
Tosin Johnson Adeyanju, who was previously appointed as the Executive Secretary of the National Lottery Trust Fund (NLTF), has now been moved to the Revenue Mobilisation and Fiscal Commission as Secretary.
Mr Tinubu also appointed Dr Abuh Mohammed as the DG of the National Population Commission, Dr Akinola Odeyemi as Managing Director of the Nigerian Bulk Electricity Trading (NBET), and Dr Anthony Inalegwu Godwin as chairman/CEO of the Nigeria Atomic Energy Commission. Engineer Julius Oloro, a former council chairman, is the new CEO of the Kwara-based National Centre for Agricultural Mechanisation (NCAM), replacing Dr A.R. Kamal, who died last January.
The President constituted the board of the Fiscal Responsibility Commission, with Dr Abdullahi Maikano Saidu as chairman. Members include Mohammed Asmau, Mohammed Aliyu Makama, Dr Suleiman Gidado, Louis O. Ndukwe, Amaechi Ugwele and Olaniyi Idowu Onikola.
Shuni Muhammad Dahiru is the new executive secretary of the National Commission for Mass Literacy, Adult and Non-Formal Education, replacing Professor Shu’aibu Shehu Aliyu, who was reassigned to the Petroleum Trust Development Fund (PTDF) in April.
To replace Mathias Byuan, the former executive director, finance of the Federal Housing Authority, who resigned to contest the governorship election in Benue, President Tinubu named Gisaor Vincent Iorja. The new occupier of the position is an economist, legal scholar, and academic currently serving as the secretary of the Benue State Independent Electoral Commission (BSIEC).
By Aduragbemi Omiyale
In line with the 12-year tenure prescribed for non-executive directors of banks by the Central Bank of Nigeria (CBN), Mr Tony Elumelu will on August 21, 2026, cease to be chairman of United Bank for Africa (UBA) Plc.
The board of the financial institution at its meeting on July 6, 2026, has elected Mr Emmanuel Nnorom as the new chairman.
In a notice to the Nigerian Exchange (NGX) Limited, the lender said Mr Elumelu’s successor, a non-executive director of the company, will assume the new role on August 21, 2026.
Mr Nnorom is a chartered accountant with over 40 years of experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.
“I look forward to working with my colleagues on the board, management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” Mr Nnorom stated.
Commenting on his retirement, Mr Elumelu said, “Serving United Bank for Africa has been one of the great privileges of my career.
“UBA has a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.
“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”
The board thanked him for his visionary leadership and exceptional contribution to the growth, transformation and institutional strength of the UBA Group.
By Adedapo Adesanya
WACT-APM Terminals Nigeria has announced the appointment of Mr Courage Obadagbonyi as Managing Director, effective July 1, 2026, succeeding Mr Jeethu Jose and becoming the first Nigerian to hold the post.
The appointment reflects the organisation’s continued focus on developing strong leadership from within its global talent pool while ensuring sustained growth and operational excellence.
A seasoned executive with more than two decades of international experience, Mr Obadagbonyi has held leadership roles across finance, operations and general management at leading global organisations, including APM Terminals, General Electric and Lafarge.
Prior to this appointment, he served as Chief Financial Officer (CFO) for the APM Terminals Nigeria cluster, with responsibility for financial strategy across Nigeria and San Pedro, Côte d’Ivoire.
He also served in an acting capacity as Managing Director of APM Terminals Apapa between 2025 and March 2026, further strengthening his operational leadership experience.
With experience spanning sectors such as oil and gas, power generation, logistics and healthcare, Mr Obadagbonyi brings deep expertise in financial management, risk optimisation and business performance.
Speaking on his appointment, he said, “I look forward to building on the strong foundation already in place at WACT. The terminal plays a critical role in connecting businesses in Eastern Nigeria to global markets, and we will continue to focus on safe, reliable and efficient operations.”
On his part, the Chief Executive Officer of APM Terminals Nigeria, Mr Frederik Klinke, noted that the appointment reflects the company’s commitment to leadership development and long-term growth.
“Across APM Terminals globally, we see strong collaboration and talent development across our teams. This appointment reflects the depth of experience within our organisation and our continued focus on building capabilities that support sustainable growth. Nigerians have continued to distinguish themselves through exceptional performance and leadership. Colleagues from our Apapa and Onne terminals have contributed their expertise internationally while also bringing back valuable best practices to strengthen operations in Nigeria.”
He added that Mr Obadagbonyi’s experience would support the next phase of operational excellence and value delivery at WACT.
The outgoing MD, Mr Jose, said, “It has been a privilege to lead WACT-APM Terminals Nigeria during a period of meaningful progress. The team has built a strong platform for the future, and I am confident in the continued success of the organisation.”
West Africa Container Terminal (WACT)-APM Terminals in Onne, Rivers State, is one of Nigeria’s leading container terminals, having commenced commercial operations in 2006.
The company has continued to invest in capacity expansion and modernisation, including a $115 million terminal upgrade project launched in 2020. The upgrade also includes the deployment of reefer racks with a 600-plug capacity, as well as the expansion of the existing yard, a new workshop, a new terminal auto gate, modernised offices and state-of-the-art technology. These investments have enhanced efficiency, strengthened service delivery and reinforced WACT’s role as an important gateway for trade beyond Lagos.
