Flutterwave CEO Agboola address the misconducts claims

Flutterwave founder and chief executive officer (CEO) Olugbenga Agboola has come out to address personal and financial misconducts claims raised about him and the organisation. 

Agboola said, “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.”

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Flutterwave founder and chief executive officer (CEO) Olugbenga Agboola

“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,” he dads. 

Allegations about the funds he used to build the company and his previous employer Access Bank. 

“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” – Agboola. 

On allegations about his company being involved in insider trading by ex-employees. 

“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 stay in compliance with all applicable regulations” – Agboola. 

On alleged sexual relationship with female staff and harassment, Agboola said, 

“We have previously investigated employee sexual harassment allegations (including those made against me, and of which I was cleared) and terminated employees who have been inappropriate towards team members. We have had independent third party reviews which gave birth to the We Hear You and whistleblowing policies that you all know of today. We have always had a zero-tolerance policy [to] sexual harassment and we will continue to take action when necessary. No exceptions.” 

In closing, Agboola said, “I know this is a lot to take in! We will have more conversations to discuss all this in greater detail. I want to hear from you all and answer any questions you have.”

“I’ll end by saying that when we started the company in 2016, our mission was to simplify payments for endless possibilities for businesses, consumers, and especially our customers. That remains our mission, of which all of you are a crucial part in making a reality,” he adds. 

Flutterwave needs to salvage its image and keep it intact. The company’s founder and CEO Agboola should put his interest aside and step down and clear his name. In the interim, they needs to appoint a new or acting CEO to run the organisation. 

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