Iyinoluwa Aboyeji, Ex-Flutterwave CEO, has again reacted to an investigative report by independent journalist, David Hundeyin titled, “Flutter wave: The African Unicorn Built On Quicksand.”
Aboyeji made this know on his Twitter handle on Sunday. Describing the report as an attack on his reputation and livelihood, he stressed that the article does not in any way implicate him but was written to damage his reputation.
He also denied knowing about the unethical conduct and sexual harassment levied against Gbenga Agboola, co-founder and current CEO of the company.
What Aboyeji is saying
He said, “The attack on my reputation and my livelihood by purveyor of yellow journalism pursuing a mission of personal vendetta is surprising and regrettable but not unexpected. Success does have its price. As the author has subsequently admitted – this article does not implicate me in any wrongdoing but he only maliciously slandered me because according to him, we don’t like each other.
“Flutterwave is an amazing testament to what is possible when a community comes together to turn its biggest challenge into global opportunities. I remain proud to have played a small role in the effort and thankful to the institutions, advisors and mentors whose vision and foresight made it possible. I am as scandalized as everyone else about the allegation of unethical conduct and sexual harassment levied against my former colleague and co-founder Gbenga Agboola. As I have mentioned severally, I have no knowledge and hold no brief for any action taken beyond my time at Flutterwave. I trust the Flutterwave board to take appropriate step where necessary following a thorough investigation.
“In the end, context is everything and I hope I have provided enough context to demonstrate to fair-minded people the high standard of corporate governance and disclosure Flutterwave operated with during my time at its helm. In particular, the libellous suggestion that I had committed pejury – a criminal offense with stiff penalties including jail time – is patently false and deeply unfair. I am grateful for the opportunity to clear my name from such a grave accusation. As promised, I will be following up with necessary steps on appropriate legal action against the libellous publication and its enabler. I want to thank everyone who sent word of encouragement in the face of these attacks on my reputation. I am grateful for your goodwill.”
What you should know
- An investigative report has accused Flutterwave, one of Nigeria’s largest tech unicorns, of allegations bothering “insider trading, fraud, and perjury” occurring over a 4 year period.
- In one of the most damning accusations against one of Africa’s largest Tech Unicorns in Africa, the report largely accuses Olugbenga Agboola, Co-Founder of Flutterwave of engaging in impersonation, insider trading and inappropriate behaviours in the workplace.
- The writer, David Hundeyin accused Olugbenga, fondly called GB, of engaging in “insider trading” by offering to buy “stock options” from employees at a price “lower” than the “market price”.
- He also accused GB of impersonating and double-dealing by using his contact as a staff of Access Bank (Nigeria’s largest bank by asset base) to give deals to Flutterwave unbeknownst to unsuspecting clients and Access Bank. GB was also working for Access Bank at the time.
- He also accused Flutterwave of engaging in “fraudulent” activities by dealing Arik Air without “paperwork” thus facilitating transactions without proper documentation.
With the amount of receipts in that write-up, I really doubt Hundeyin’s story was fake. However, I understand why Aboyeji would seek legal actions. One can’t be seen to contribute to tearing down a house one helped built.