Dr. Ernest Ndukwe, Chairman of MTN Nigeria, has celebrated the global expansion of Flutterwave, describing the payments firm as proof of how far Nigeria’s digital economy has evolved.
Speaking at Flutterwave’s 10th anniversary gala night held at The Delborough Lagos, Ndukwe traced Nigeria’s transformation from the era of long queues at the former state telecom monopoly to today’s globally competitive fintech landscape.
Reflecting on his tenure as Executive Vice Chairman of the Nigerian Communications Commission under former President Olusegun Obasanjo, Ndukwe said the telecom liberalisation of the early 2000s dismantled systemic inefficiencies and unlocked private-sector innovation.
Before reforms began in 2001, he recalled, Nigerians often endured long waits just to place international calls, a reality that disappeared after the telecom revolution took hold.
According to him, that policy shift laid the foundation for Nigeria’s modern digital economy, enabling homegrown companies like Flutterwave to emerge and compete globally.
He described the fintech as “an international company made in Nigeria,” noting that its ability to meet global standards demonstrates what local enterprises can achieve when supported by the right regulatory environment.
While praising Flutterwave’s achievements over the past decade, Ndukwe cautioned that sustaining rapid expansion would require strong institutional discipline.
“Corporate governance is very important. Success can go two ways, it can either make you lose your head or make you concentrate more,” he said, urging the company’s leadership to remain focused as it scales across markets.
He added that excellence demands continuity, reminding the audience that “the reward for hard work is more work.”
Ndukwe also acknowledged earlier pioneers in Nigeria’s digital payments ecosystem, including John Obaro, founder of SystemSpecs and creator of Remita, the platform widely used by the Federal Government for revenue collection.
He described such innovators as foundational figures whose early investments in digital infrastructure strengthened Nigeria’s broader fintech ecosystem.
The MTN Nigeria board chairman expressed confidence in Flutterwave’s trajectory, assuring the company of continued industry support as it deepens its footprint across Africa and beyond.
His remarks underscore a broader narrative: that Nigeria’s telecom reforms two decades ago did more than improve connectivity, they created the conditions for a thriving digital economy now producing globally recognised technology firms.
