Nigerian Logistics Startup TruQ Faces Leadership Turmoil After CEO Resignation

On July 12, 2025, Nigerian logistics tech startup truQ found itself at the center of a public storm following the resignation of its co-founder and former CEO, Williams Fatayo. His departure, announced via a poignant Medium post titled “TRUQ: FIRST WELL DOWN!” sparked intense discussion within Africa’s tech ecosystem.

Fatayo’s account and the company’s official response, however, paint starkly different pictures of the events leading to this leadership shakeup, raising questions about governance, transparency, and the future of a company once hailed as a rising star in logistics innovation.

In his Medium post, Fatayo reflects on his five-year journey leading the company, which he co-founded with Foluso Ojo and Isaac Chikutukutu in 2020, to streamline mid-mile logistics across Africa. He describes the logistics startup’s evolution from truQ 1.0, a third-party logistics (3PL) platform that enabled thousands of operators to execute tens of thousands of fulfillments, to truQ 2.0 (Siju by truQ), which optimized delivery planning for major manufacturing and distribution clients.

The latest iteration, truQ 3.0, aimed to be a “super app” addressing multifaceted challenges for commercial fleet operators with innovative financial services. Fatayo proudly notes that the company served thousands of operators, processed millions in transaction volume, and secured top-tier investors like Google for Startups and Techstars.

However, Fatayo’s narrative takes a sombre turn as he details a falling-out with co-founder Foluso Ojo. He cites “issues around how we run the business and several other personal differences” that began as truQ embarked on its 3.0 journey. Despite attempts to resolve these conflicts, Fatayo claims they reached an impasse, leaving two choices: let the disputes “frustrate our work and kill the company” or part ways. He portrays his decision to step down as a selfless act to preserve the company’s mission, guided by spiritual reflection and a biblical reference (Genesis 26:18–22).

Fatayo alleges that Ojo engaged in a “vendetta campaign,” including erratic actions, sabotaging the company’s direction, and attempting to oust him by disabling his work email and convening a “kangaroo” shareholder meeting with herself and two former employees. He claims this move failed under truQ’s US entity bylaws and Nigeria’s CAMA laws, as Ojo’s vote alone was insufficient.

In contrast, truQ’s official statement strikes a measured but firm tone, acknowledging his announcement while challenging its accuracy. The company states, “While individuals are entitled to share their perspectives, we believe the post contains significant inaccuracies and key omissions that do not reflect the full picture.” Out of respect for its team, customers, investors, and partners, the company opted not to engage in a “public back-and-forth” but clarifies key points. It reveals that a leadership transition occurred in February 2025, months before Fatayo’s July announcement, due to “serious internal concerns related to financial accountability and corporate governance.”

Since then, truQ claims to have strengthened internal controls and oversight to restore trust. The statement confirms that Foluso Ojo, previously the COO, assumed the CEO role in February 2025, a detail that aligns with the user’s mention of Ojo’s LinkedIn profile but contradicts earlier sources listing Fatayo as CEO until July. truQ emphasizes Ojo’s commitment to “building a culture rooted in transparency, accountability, and long-term impact” and notes that the company has “executed remedies in line with the company’s bylaws” while cooperating with relevant authorities. This suggests a formal process, possibly involving legal or regulatory oversight, though specifics remain undisclosed.

The contrasting narratives show a deep rift. Fatayo’s post frames his exit as a reluctant but principled decision driven by irreconcilable differences with Ojo, while truQ’s statement implies his departure stemmed from governance issues predating his announcement. The mention of a February 2025 transition raises questions about why Fatayo’s public statement came months later, and what “inaccuracies” the company believes his post contains. Neither side provides granular details.

Notwithstanding the turbulence, truQ and its CEO, Foluso Ojo, are looking forward with optimism. The company’s statement underscores a “new chapter” focused on its core mission: “transforming logistics across Africa and equipping small-scale transporters with the tools, access, and infrastructure they need to grow and thrive.” This vision builds on truQ’s track record of innovation, from its early days managing logistics via Excel sheets to securing $50,000 from V8 Capital in 2020 and participating in prestigious accelerators.

In a direct communication, Ojo elaborated on the company’s path forward, emphasizing a renewed commitment to small-scale transporters. “At truQ, our mission remains clear: to transform logistics for small-scale transporters across Africa,” she said. “We’re building a platform that gives these transporters the financial infrastructure, operational tools, and earning opportunities they need to thrive in an increasingly digital economy.” Ojo highlighted plans for “expanded product offerings, deeper market penetration, and stronger partnerships” in the coming months, aiming to deliver “real impact at scale.” She also stressed empowering often-overlooked transporters with access to capital and support to build sustainable businesses.