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AfricaMay 30 2022

Flutterwave controversy a wake-up call for Nigerian fintech governance

Reports are growing of toxic work cultures across Nigeria’s fast-growing fintech sector.
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Flutterwave controversy a wake-up call for Nigerian fintech governance

Read our interview with Flutterwave founder and CEO Olugbenga Agboola from September 2023, or watch our video interview with Mr Agboola from October 2023.

The past three years have seen the dramatic growth of fintech investment hubs across Africa, as a new generation of start-ups operating in comparatively underdeveloped markets attract ever larger amounts of capital from regional and, increasingly, international investors. As the continent’s most populous country and second largest economy, Nigeria stands out among Africa’s hubs, adding three fintech unicorns in 2021 alone.

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John Everington is the Middle East and Africa editor. Prior to joining The Banker, John was the deputy business editor of The National in the UAE, and has also worked for Dealreporter, Arab News and The Telegraph. He has also covered the telecom sector in Africa and the Middle East, living and working in Qatar and the UK. John has a BA in Arabic and History and an MA in Middle Eastern Studies from the School of Oriental and African Studies (SOAS) in London.
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