Nigeria’s fintech industry is booming, with over 200 startups emerging by the end of 2023. These companies are using technology to provide financial services to underserved populations and small businesses. As the sector grows, Chief Technology Officers (CTOs) play a crucial role in shaping its future.
CTOs are responsible for overseeing the technological aspects of fintech companies. They develop and implement strategies to create user-friendly apps, secure payment systems, and innovative financial products. Their work is essential in a country where increasing internet and smartphone use is making digital financial services more accessible.
However, the job isn’t without challenges. CTOs must navigate issues like poor infrastructure and cybersecurity threats. They also need to ensure their companies comply with complex regulations, including the Central Bank of Nigeria’s goal to achieve 95% financial inclusion by 2024.
Here are some of the top CTOs driving Nigeria’s fintech revolution:
Gurbhej Dhillon (Flutterwave): With 20 years of experience, Dhillon oversees technology at one of Africa’s leading payment companies. He previously worked at Goldman Sachs, bringing valuable expertise from the global financial sector.
Babafemi Ogungbamila (Interswitch): Ogungbamila has over 21 years of experience in IT and software development. At Interswitch, he leads a large team of engineers working on payment infrastructure and digital transformation projects.
Dotun Daniel (OPay): As both COO and CTO, Daniel manages operations and technology at OPay. His background includes leadership roles at other major fintechs like Flutterwave.
Musty Mustapha (Kuda): Mustapha co-founded Kuda, Nigeria’s first full-service digital bank. He oversees the development of their mobile banking platform, drawing on his previous experience in traditional banking and fintech startups.
Felix Ike (Moniepoint): Ike leads technology strategy at Moniepoint, focusing on solutions that bring financial services to individuals and businesses across Nigeria. He has nine years of experience with the company.
Edward Popoola (Cowrywise): As CTO and co-founder of Cowrywise, Popoola develops technology to make savings and investments more accessible to underserved communities. He has a background in telecoms and mobile money services.
Opeyemi Olanipekun (Trove Finance): Olanipekun co-founded Trove Finance and leads their technology efforts to make investing more accessible in Nigeria. He has experience developing various software applications and platforms.
Eric Chijioke (Paga Group): Chijioke has been with Paga since 2011, helping to build their digital payments platform. He has a background in developing financial management systems and risk management software.
These CTOs come from diverse backgrounds, bringing experience from sectors like banking, telecommunications, and global tech companies. Their expertise is crucial in developing fintech solutions that work for Nigeria’s unique market and regulatory environment.
As Nigeria’s fintech sector continues to grow, these technology leaders will play a key role in shaping the future of digital financial services in the country. Their innovations have the potential to improve financial inclusion and drive economic growth by making it easier for people and businesses to access and manage their money.
