Fifty years ago, a star was born – a visionary, a trailblazer, a man whose name would become synonymous with innovation in West Africa’s digital banking and financial technology landscape.
Tope Dare, a name that echoes through the corridors of digital banking and payment, has not only mastered the art of transformation but has also rewritten the rules of financial inclusion.
As he turns 50 on April 2nd, we celebrate a thought leader whose journey has been one of audacity, ingenuity, and unwavering impact.
From his formative years, Tope was destined for greatness. Though his late father wanted him to don the white coat of a medical doctor, fate had other plans. Engineering called out to him, and he answered with a fiery passion, enrolling at the Federal University of Technology, Akure, before continuing at the prestigious Obafemi Awolowo University. This shift was not just academic; it was the spark that would ignite an illustrious career in technology and banking.
Tope’s foray into the world of banking began in 1999 at Chartered Bank (now Stanbic IBTC) during his National Youth Service Corps (NYSC). Though assigned to the project management unit of the bank, his heart belonged to technology, and he swiftly maneuvered his way into the IT department, then under the leadership of Ademola Adebise, the former MD/CEO of Wema Bank. This was the first of many strategic pivots that would define his career.
His true calling emerged in 2000 when he joined Oceanic Bank (now Ecobank) as a Graduate Trainee. It was here that he first laid hands on the future of digital baking – Internet and Mobile Banking, PoS and ATMs. As the lead for the bank’s ATM deployment project, Tope found his niche, embarking on a journey that would see him become the highest seller and promoter of ATMs in Africa.
A relentless seeker of knowledge, Tope took a bold step in 2008, self-funding ATM technical training in Germany at Wincor Nixdorf ATM plant. His brilliance did not go unnoticed—Oceanic Bank’s leadership under Dr. (Mrs) Cecelia Ibru as the GMD/CEO reimbursed his expenses, acknowledging his dedication to acquisition of knowledge. This expertise propelled him beyond technical mastery into the world of technology sales.
By 2010, he joined NCR to transition into sales and marketing from Information Technology, and he quickly established himself as an industry powerhouse. At NCR, he redefined the Nigerian ATM market, boosting the company’s market share to 48% and earning accolades for surpassing sales targets. His name became a force to reckon with—he was not just selling ATMs; he was revolutionizing access to cash in an economy that still heavily relied on physical transactions.
In 2013, he took yet another leap, joining Inlaks, a company then unfamiliar in the ATM business in Nigeria with 2% market share. Armed with vision and strategy as an Executive Director, Tope transformed Inlaks to becoming the ATM market leader attaining 52% market share having sold more than 12,500 Hyoung ATMs to all the banks in Nigeria, crafting sales structures, attracting top-tier talents, and ensuring that every Hyosung ATM deployed bore the hallmark of efficiency and reliability.
Tope Dare’s academic odyssey is as stellar as his professional voyage. An Electronic and Electrical Engineering graduate from Obafemi Awolowo University in 1998, he later honed his expertise with an Action Learning MBA at Business School Netherlands in 2016, graduating with distinction. His thirst for knowledge carried him across the hallowed halls of Harvard Business School, Wharton Business School, INSEAD, Said Business School (Oxford University), and Judge Business School (University of Cambridge), earning many certifications in FinTech, Business Analytics, Data Analytics and Digital Transformation. With each lesson, he fortified his arsenal, becoming an unassailable thought leader in the industry.
Yet, Tope Dare is not just an ATM mogul; he is a voice of reason in the evolving financial ecosystem. His recent thought-provoking discussions on the removal of ATM charges have shaken the industry to its core, capturing the attention of Nigeria’s House of Representatives. His stance on the unintended consequences of the cashless policy—where Point-of-Sale (POS) agents have created a parallel market for cash—has sparked national conversations. “The war between ATMs and POS agents is real,” he declared at a recent public lecture. “The cashless policy was meant to drive financial inclusion, yet it has birthed an exploitative system where customers are charged exorbitantly to access their own money. Something must be done.”
His advocacy has resonated across boardrooms and legislative chambers, forcing regulators to reassess policies that burden everyday Nigerians. As an entrepreneur in Technology and digital Infrastructure, Tope remains at the forefront of driving change, championing policies that balance digital transformation with economic realities.
At global conferences, workshops, and symposiums, Tope Dare is a voice of reason, a guidepost for the future. Whether dissecting the digital transformation landscape or illuminating the intersections of ATM technology and branch innovation, his words resonate across continents. His accolades are many, but among them, the title of “FinTech Salesman of the Year 2022” stands out, a testament to his groundbreaking contributions to financial technology in Africa while being instrumental in advancing ATM deployment in many African countries and digital banking innovations across the globe. Between 2010 and 2023, Tope sold more than 15,000 ATMs representing 70% of ATMs in Nigeria.
His contributions to the industry have been widely acknowledged, and his recent induction as a Honourary Senior Member of the Chartered Institute of Bankers Nigeria (CIBN) and Fellow of the National Institute of Credit Administration (NICA) underscore his influence in Nigeria’s financial landscape. As a Techpreneur and strategist, he seats on the Board of CitiData Center and some other technology companies.
The golden boy is happily married to Adedoyin and blessed with three lovely girls exceling in their chosen careers and sports.
At 50, Tope Dare stands at the pinnacle of his journey, yet his gaze is fixed firmly on the future. There are more barriers to break, more paradigms to shift, more innovations to birth. His legacy is not just one of past triumphs, but of the boundless possibilities yet to come.
So, we raise our glasses to a man of vision, a leader of impact, a voice of change. Tope Dare at 50 is not just a celebration of years, but of a journey that has shaped an industry, influenced policies, and inspired a generation. Here’s to the next 50 years of brilliance, disruption, and transformation.
As he celebrates his Golden Jubilee on this day, Wednesday, 2nd April 2025, his commitment to driving change and empowering communities would continue through the Tope Dare Foundation with dedication and commitment to education and health care, uplifting the less privileged in our society.
Happy Golden Jubilee, Tope Dare—the African King of ATMs and thought leader who redefines the future of digital banking.
