As Nigeria’s fintech sector experiences remarkable growth, the role of Chief Technology Officers (CTOs) has never been more crucial.
By the end of 2023, over 200 startups emerged, addressing the needs of underserved populations and small businesses.
This expansion is largely driven by increasing internet and smartphone penetration, positioning Nigeria as a key player in the e-payments landscape.
However, the fintech industry is not without its challenges. Infrastructure limitations and cybersecurity concerns pose significant hurdles. The Central Bank of Nigeria’s (CBN) National Financial Inclusion Strategy (NFIS) aims for a 95% financial inclusion rate by 2024, underscoring the importance of policies such as the cashless initiative.
Navigating the highly regulated fintech environment requires CTOs to manage a complex web of legal and regulatory requirements, making their roles increasingly multifaceted.
CTOs are tasked with overseeing technological infrastructure while innovating solutions that enhance financial accessibility and operational efficiency. Their expertise in software engineering, data analytics, and strategic technology implementation is essential for developing services that empower millions of Nigerians.
In this series, we will spotlight the CTOs of Nigeria’s leading fintechs, delving into their backgrounds and contributions. Their insights are vital for navigating the dynamic landscape, ensuring that technology continues to drive financial inclusion in the country.
Gurbhej Dhillon – CTO Flutterwave
Gurbhej Dhillon is the Chief Technology Officer at Flutterwave, a leading African fintech company, where he has served since May 2022. With about 20 years of experience, he oversees the technological infrastructure and product development that powers Flutterwave’s rapidly expanding payment solutions across global markets.
Before joining Flutterwave, Dhillon had a distinguished 17-year career at Goldman Sachs, where he rose to the position of Managing Director and Technology Fellow. As CTO and Head of Lending Engineering, he led a global team in developing the Marcus Lending platform. Dhillon’s earlier roles included CTO for Capital Markets Technology and Senior Architect for Investment Banking Technology.
Dhillon holds extensive experience in system architecture, platform development, and managing large-scale global teams. His earlier career also includes work as an Application Developer at JetBlue Airways.
Babafemi Ogungbamila-EVP, Operations and Technology, Interswitch
Babafemi Ogungbamila is a highly experienced technology leader with over 21 years of expertise in IT infrastructure, software development, and fintech. Currently serving as EVP of Operations and Technology at Interswitch, he has been instrumental in shaping the company’s payment infrastructure and digital transformation.
Since joining Interswitch in 2003, Ogungbamila has held various roles, including Chief Information Officer, where he led a team of over 200 engineers across multiple regions to drive cloud-native solutions and big data adoption. Prior to Interswitch, he worked as a Software Engineer at Neptune Software and gained early experience at Accenture.
He holds a degree in Computer Engineering from Obafemi Awolowo University and is an alumnus of the Lagos Business School’s Senior Management Program.
Dotun Daniel-Chief Operating Officer / Chief Technology Officer, OPay
Dotun Daniel is an accomplished executive with deep expertise in technology and operations management, particularly in fintech. Since July 2024, he has been Chief Operating Officer and Chief Technology Officer at OPay, where he oversees both strategic and day-to-day operations to ensure sustained growth and the seamless integration of innovative technologies.
Prior to his current role, Dotun served as Senior Vice President of Offline Payments at Flutterwave from 2022 to 2024, driving the company’s growth in key markets. His tenure at OPay dates back to 2019, during which he held several key roles, including Vice President and CTO for Nigeria, and Vice President of Product and Engineering.
Dotun is also the Founder and Chairman of CMYK Studios, a position he’s held since 2016.
He holds a Postgraduate Diploma in Artificial Intelligence and Machine Learning from Texas McCombs School of Business and an MBA from the University of Roehampton. He is also TOGAF 9 Certified.
Musty Mustapha-Co-Founder / Chief Technology Officer, Kuda
Musty Mustapha is a forward-thinking technologist and entrepreneur who has played a pivotal role in reshaping digital banking in Africa. As the Co-Founder and Chief Technology Officer of Kuda, Nigeria’s first full-service digital-only bank, Musty has spearheaded innovative solutions designed to meet the financial needs of the modern, mobile-first customer. Since 2018, he has overseen the development of Kuda’s smart banking platform.
Prior to co-founding Kuda, Musty built a robust career in the banking and fintech sectors. He was the Senior Software Development Engineer at Stanbic IBTC, where he led a team to execute the bank’s digital transformation strategy, focusing on cutting-edge technologies to enhance customer experience and operational efficiency.
He co-founded Kudimoney, Nigeria’s first online-only lending and savings platform, which served as a precursor to Kuda.
His journey began at First Bank of Nigeria Ltd and Keystone Bank Limited, where he worked as a Business Solutions Developer and Solutions Developer, respectively. He holds a Master of Science (MSc) in Computer Science from the prestigious University of Lagos, where he graduated with Distinction.Before this, he earned a Bachelor of Science (BSc) in Computer Science from the University of Ilorin, graduating with First Class Honors. During his time there, he founded De07, a group of programming enthusiasts dedicated to exploring innovative software solutions.
Felix Ike-CTO Moniepoint Inc
Felix Ike is a seasoned technology leader and visionary, serving as the Chief Technology Officer of Moniepoint Inc., where he plays a pivotal role in building software solutions and leading innovation that brings financial empowerment to individuals and businesses across Nigeria.
As CTO, Felix leads the technological strategy of Moniepoint, where he has spent over nine years transforming financial operations through software.
Before assuming the CTO role, Felix worked as Lead Architect, where his expertise in software architecture, development, and team management came to the forefront. He was responsible for ensuring the delivery of robust solutions while also mentoring and managing a talented software development team.H
His earlier career includes his time as a Software Developer at Interswitch, where he was part of a specialized R&D team tasked with conceptualizing and developing software tools for the company’s internal and external use. Felix began his journey as the Lead Developer at Tiketmobil. He holds Felix holds a Bachelor of Science (BSc) degree in Computer Science from the University of Lagos, where he graduated with First Class Honours.
Edward Popoola-CTO and Co-founder, Cowrywise
Edward Popoola is the Chief Technology Officer and Co-founder of Cowrywise, one of Nigeria’s leading digital wealth management platforms.
Since its founding in 2017, Edward has spearheaded the technological innovations that underpin Cowrywise’s mission to democratize access to savings and investments for underserved communities.
Before co-founding Cowrywise, Edward served as Technical Director at African Advantage Telecoms West Africa Limited (AAT), where he managed both local and remote teams to deliver critical Value-Added Services (VAS) solutions across the continent.
Earlier in his career, Edward held various technical leadership roles within AAT, including Team Lead for Infrastructure Support and Integration. His experience here involved managing high-level accounts with MTN across multiple African countries, where he oversaw the support and integration of mobile money services and USSD gateways that served over 40 million subscribers. Notably, he led the installation of MTN’s outbound voice campaign platform, which handled over 2.3 million customer calls per day, marking a significant milestone in the telecoms industry.
Edward has a B.Sc. in Computer Engineering from Obafemi Awolowo University, and earned an Innovation & Entrepreneurship Certificate from Stanford University’s Center for Professional Development.
Opeyemi Olanipekun-Co founder/CTO Trove Finance
Opeyemi Olanipekun is a distinguished technology leader with a wealth of experience in software development and innovation. As Co-Founder and CTO of Trove Finance since July 2018, he has played a pivotal role in driving the company’s technological vision, enabling accessible investment solutions in Nigeria. Prior to this, he was the Head of Technology at DropBuddies from January 2016 to June 2018, where he focused on developing mobile and web applications while ensuring robust software performance through rigorous testing and debugging.
His earlier career includes a position as a Senior Software Developer at Prepclass, where he built scalable services and developed the first Computer-Based Test (CBT) application. Opeyemi began his journey in tech at Supermart.ng, contributing significantly to the development of its web application and providing essential support for its operations.
Opeyemi holds a B.Sc. in Computer Engineering from the University of Lagos and an Advanced Diploma in Software Engineering from APTECH Nigeria, equipping him with the foundational knowledge and skills to excel in the tech industry. His commitment to technological advancement continues to drive innovation in the Nigerian fintech landscape.
Eric Chijioke- CTO Paga Group
Eric Chijioke is the Chief Technology Officer of Paga Group Ltd, a leading digital payments platform dedicated to enhancing financial inclusion across the country. Since joining Paga in February 2011, Eric has played a pivotal role in driving the company’s technological advancements, ensuring that users can conduct seamless transactions.
Before his tenure at Paga, Eric co-founded Apposit LLC in 2007, where he served as Managing Partner. Paga stated it processed transactions worth N14 trillion in the last 15 years. About 80% of the transactions have been recorded in the last five years.
Eric’s career began at Harvard University, where he was the Lead Software Architect for the DSA Project from January 2005 to November 2007. In this role, he spearheaded the design and development of an Integrated Financial Management Information System (IFMIS) for the Government of Ethiopia, a project that underscored his capability to manage complex, high-impact technological initiatives.
Prior to his work at Harvard, Eric served as a Senior Systems Analyst at ERisk from May 2000 to December 2004, focusing on risk management software solutions for financial institutions. This foundational experience equipped him with the skills and insights that have shaped his career trajectory.
Eric holds a Bachelor’s degree in Mechanical Engineering from Brown University, which he completed in 1998.
Note: The individuals featured in this compilation have been carefully selected by a distinguished panel of editors, experts, and analysts at Nairametrics. It is important to note that none of the individuals listed have solicited their inclusion. While this list aims to be comprehensive, it is by no means exhaustive; numerous other contributors have played significant roles in advancing the Fintech sector in Nigeria. This compilation is exclusive to Nairametrics and may be updated periodically to reflect changes and advancements in the field. Feedback will be appreciated.
