The Co- founder and CEO of Flutterwave, Olugbenga Agboola, has responded to reports of financial and personal misconduct claims levelled against him and the company saying the company has no tolerance for sexual harassment and will continue to take action when necessary.
He also denied allegations of insider trading and abusing his position as Access Bank’s head of digital factory and innovation to profit Flutterwave.
However, the fintech founder did not admit any wrongdoing or apologize in an email to employees obtained by Techcrunch.
“I’m writing today because I want you to know how concerned I am about the impact that reading the false allegations against our company has had on you all,” Agboola wrote.
“The fact that the allegations of financial impropriety, conflict of interest and sexual harassment have been proved false or have already been reported, investigated and addressed by management matters less to me than the reality that these claims may have shaken your confidence in the company. As founder and CEO, it is my responsibility to address the concerns you may have, and this will be a priority for me moving forward.”
Agboola’s email comes days after Nigerian journalist David Hundeyin detailed how the company’s founder and CEO, Olugbenga Agboola, allegedly carried out multiple misconducts ranging from fraud and perjury to insider trading and sexual harassment.
In the email, the Agboola responded to some specific allegations but told employees, “the allegations about how I started the company are untrue. I shared with you during the retreat that a former boss helped us close one of our enterprise clients. I am thankful for the learning and mentorship I received at the numerous employers I worked at before starting Flutterwave.”
“We followed all legal processes and procedures, including obtaining board approval when needed, when approving the sale of shares,” he wrote. “In addition, we work closely with our outside law firms to comply with all applicable regulations.”
Agboola’s email to employees failed to address allegations of creating a fictitious co-founder and CTO identity called ‘Greg’ to allocate more shares to himself. The Flutterwave chief executive also failed to address accusations of Flutterwave performing fraudulent activities — with investors’ knowledge — against its clients.
Lastly, there were no statements on the ongoing court cases from ex-employees Clara Wanjiku Odero and another lady, who, according to the West African Weekly, is suing Flutterwave for not offering her stock options after almost three years working at the company in a senior role.
