Williams Fatayo, co-founder and CEO of Nigerian logistics startup truQ, has resigned following a serious internal crisis at the company.
Williams announced his resignation on X (formerly Twitter), citing deep internal conflicts involving financial transparency, leadership struggles, and administrative breakdowns. He co-founded truQ in 2020 with Foluso Ojo to improve mid-mile logistics across Africa. The startup gained recognition in 2023 after winning the TC Startup Battlefield competition with a ₦2.5 million prize.
According to Williams, tensions rose when he confronted Foluso about debts nearing ₦100 million. He proposed changing her role or bringing in a logistics expert to strengthen the business. However, he alleges Foluso responded with sabotage, including shutting down his work email and calling a questionable shareholder meeting to remove him as CEO. Legal frameworks in the US and Nigeria protected his position, as Foluso’s vote alone was insufficient for his removal.
Efforts to resolve the conflict through mediation failed, prompting Williams to choose resignation over prolonged litigation. He said walking away was necessary to protect the company and their relationship. Williams will remain involved as an advisory board member and investor, while Foluso will resume as CEO.
Since launching in 2022, truQ has powered thousands of logistics operators and facilitated millions in transactions, making it a promising player in Nigeria’s tech-driven logistics sector.
