In a surprising turn for Nigeria’s fast-growing logistics tech ecosystem, Williams Fatayo, co-founder and Chief Executive Officer of truQ, has officially stepped down from his executive role at the company. His exit follows unresolved leadership and personal disagreements with co-founder Foluso Ojo, prompting his transition to a non-executive board position.
The announcement was made public in a detailed Medium post published on Saturday, where Fatayo shared insights into the decision and the journey that led to it.
“I am leaving truQ, I’ve always imagined a 7–10 year journey building this startup before stepping aside or getting acquired. But this isn’t the path I envisioned,” he wrote.
The Birth and Growth of truQ
truQ (pronounced “truck”) was conceived in July 2019 when Fatayo and Ojo faced delays trying to move a wardrobe across Lagos. This sparked the idea for a tech-enabled logistics platform aimed at solving last-mile delivery challenges.
By the second half of 2019, before even launching a functional website, they had successfully completed over 180 logistics moves through informal social media networks. In February 2020, after meeting Zimbabwean entrepreneur Isaac Chikutukutu during the World Youth Forum Startup Lab in Egypt, truQ officially launched.
The startup’s asset-light model, connecting truck owners and logistics firms directly to customers via a digital platform, quickly gained traction. Within months, truQ had partnered with nine logistics firms and over 70 truck operators, enabling affordable and efficient services.
truQ’s Evolution: From 1.0 to Super App
Fatayo detailed truQ’s evolution in three strategic phases:
- truQ 1.0: A third-party logistics (3PL) platform designed to connect operators to demand.
- truQ 2.0 (Siju by truQ): A delivery optimization solution tailored for large-scale distribution and manufacturing companies.
- truQ 3.0: A super app integrating operational tools and innovative financial services for commercial logistics fleets.
“truQ 3.0 was built to solve the multi-faceted problems of logistics fleet operators with tools that improve efficiency and access to niche financial services,” Fatayo said.
Why Fatayo Resigned
While truQ 3.0 marked a major milestone, it also marked the beginning of internal rifts.
“My co-founder and I started having issues around how we run the business. Several personal and leadership disagreements followed,” he explained.
Despite efforts to resolve the issues, no common ground was found. Fatayo said he sought spiritual clarity before finalizing his decision, referencing Genesis 26:18–22 as a guiding scripture.
Eventually, he proposed a transition plan to the board and investors, stepping down as CEO while retaining a minority stake and a board seat.
New Leadership at truQ
With Fatayo stepping back, co-founder Foluso Ojo will now lead truQ as the new Chief Executive Officer.
“We are in the middle of transition plans… Foluso will now steer truQ as CEO,” Fatayo confirmed.
Reflecting on the journey, Fatayo described his time at truQ as transformative, praising the team, early adopters, and investors who believed in the vision. He also highlighted the startup’s success in processing millions of dollars in transaction volume and achieving strong revenue margins.
