flutterwave scandal for Dummies
flutterwave scandal for Dummies
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Flutterwave expressed relief to move on from the dispute. Nevertheless, a nagging $three million asset freeze connected to Flutterwave continues to be Lively in Kenya as a different case. The business is still entangled in lingering investigations.
I believe Olugbenga Agboola will go. These allegations are only far too damning never to force a modify in administration. My prediction would be that the new owners will deliver a whole new CEO to deal with the rebranded enterprise. And perhaps if the current owners are unsuccessful to promote, they should still really need to question Agboola to move down.
Evidently, Odero’s searing account of functions – which arrived in response to an post released a lot less than 24 hours before that some say reads partially just like a “pre-emptive PR” story for Flutterwave – will be topped per week afterwards by a fuller story released by award-successful Nigerian investigative journalist, David Hundeyin, detailing attainable fraud, perjury, insider investing, and sexual misconduct at the center of Flutterwave.
I'm Unwell of it, for being genuine. It's been almost 5 a long time of consistent bullying, looking to malign my title and just make my everyday living more difficult. All of it stems from me choosing to depart, request what is relatively mine AND check with for being compensated for Flutterwave’s negligence.
Addressing troubles linked to the U.S. Securities and Exchange Fee, Agboola even further backed the account supplied by Aboyeji to TechCabal about the make any difference, stating that in 2017, the SEC experienced an inquiry with which Flutterwave thoroughly complied, and he’s unaware of any ongoing SEC investigation into the corporate’s pursuits.
As fintechs extend in Africa, they need to prioritise transparent functions, sturdy inner controls, and collaboration with regulatory bodies. This circumstance reinforces that fintech cannot take a lax tactic if they want to fulfil their significant probable in driving fiscal inclusion across Africa.
Over the past yr, Agboola’s standing has stretched beyond his Management at Flutterwave owing to a spree of private investments in other African startups.
The West Africa Weekly’s report accused Agboola of creating a fictitious co-founder and CTO identity identified as “Greg” to allocate far more shares to himself (Although he was the most important shareholder) in the business’s early times.
Fluttewave alleged a witch hunt, stating that it's conducting its have investigations to uncover the motive.
S. in 2018 to answer for the SEC concerning this suspicious arrangement And maybe provided questionable testimony underneath oath, nevertheless this stays unproven specified the SEC’s refusal to release sure sensitive paperwork.
It touted plans to broaden throughout the continent and also go public inside a few many years. But soon, the business can be embroiled in A serious Flutterwave Scandal in one of its most critical markets.
Some had been worried about what this meant for Flutterwave and for other companies like it. Other folks ended up observing closely to determine what would occur subsequent. It’s similar to a significant discussion exactly where everyone seems to be offering their ideas.
However, sexual impropriety is a difficulty of abuse of electricity; utilizing the electrical power you have about your subordinates to receive sexual favours. Exactly the same ability Olugbenga Agboola continues to be working with to make my lifetime so incredibly tough for therefore really extensive simply because I stood up for myself.
Lipa Afterwards CEO, Eric Muli, on his appointment explained, “Olugbenga Agboola is among Africa’s major fintech gurus, and we've been important admirers in the do flutterwave scandal the job he has accomplished on the continent. It’s an honour plus a tribute to the operate we’re accomplishing right here at Lipa Later on to have GB on board.”