Nigeria’s transformation from an era of long queues at NITEL offices to a thriving digital economy took centre stage as the Board Chairman of MTN Nigeria, Dr. Ernest Ndukwe, celebrated the 10th anniversary of Flutterwave, describing the fintech firm as a product of visionary reforms and resilient local enterprise.
The milestone Gala Night, hosted at The Delborough Lagos, provided an opportunity to reflect on two decades of technological advancement that have reshaped Africa’s largest economy. Ndukwe traced the roots of today’s vibrant fintech ecosystem to the sweeping telecommunications reforms of the early 2000s under former President Olusegun Obasanjo.
Drawing from his tenure at the Nigerian Communications Commission, Ndukwe recalled a time when Nigerians endured prolonged waits at NITEL offices to place international calls—an experience emblematic of systemic inefficiencies that defined the pre-liberalisation era. According to him, the telecom revolution that began in 2001 dismantled those bottlenecks, expanded access, and unlocked private-sector participation on an unprecedented scale.
That foundational shift, he noted, created the enabling environment that has allowed companies like Flutterwave to emerge as global contenders in digital payments. He described the firm as “an international company made in Nigeria,” arguing that its ability to meet global standards underscores the strength and competitiveness of indigenous enterprise when supported by sound policy frameworks.
Reflecting on Flutterwave’s decade-long journey, Ndukwe said its rapid growth and expanding international footprint were remarkable achievements within a relatively short period. However, he cautioned that sustaining such momentum would require strong institutional discipline and adherence to corporate governance principles.
He further emphasised that excellence demands continuity, reminding stakeholders that “the reward for hard work is more work,” a principle he said must guide innovation and long-term strategy in an increasingly competitive global ecosystem.
Ndukwe also paid tribute to earlier pioneers of Nigeria’s digital payment infrastructure, including John Obaro, founder of SystemSpecs and creator of Remita, the platform used by the Federal Government for revenue collection. He described such innovators as foundational figures whose contributions strengthened the broader financial technology landscape.
Concluding his remarks, the MTN Nigeria chairman expressed confidence in Flutterwave’s trajectory, assuring the company of continued industry backing as it deepens its presence across Africa and extends its reach within the global payments ecosystem.