The Greatest Guide To flutterwave scandal
The Greatest Guide To flutterwave scandal
Blog Article
Regardless of Kenya’s center on unlicensed functions, Flutterwave preserved it absolutely was in consistent talks with regulators to secure appropriate licensing. The business suggested the asset freeze resulted from a mix of political motivations in Kenya and unfair targeting of Nigerian businesses.
“The banking account operations of Flutterwave experienced suspicious things to do the place funds may be gained from particular overseas entities which lifted suspicion. The funds ended up then transferred to connected accounts in contrast to settlement to retailers,” the court docket papers study in part.
Our group instantly released a review (inline with our regular running process), which disclosed that some customers who experienced not activated a number of our suggested safety options might need been susceptible.
“It is important, nevertheless, to emphasise that our functions have normally been and will carry on to get conducted in rigorous compliance Using the regulation.
Numerous tweets regarding the alleged hack have also appear up above the weekend. Some supplied information about the hack, while some complained about frozen accounts That may be linked to the hack.
The chief government didn’t also respond to the accusations that Flutterwave executed fraudulent actions — with traders’ knowledge — versus its shoppers.
Flutterwave's CEO is in Kenya this week seeking to unfreeze Sh6.6 billion that were frozen on fears of money laundering.
The West Africa Weekly’s report accused Agboola of creating a fictitious co-founder and CTO id referred to as “Greg” to allocate more shares to himself (Regardless that he was the foremost shareholder) in the corporate’s early days.
The appointments were viewed with the African tech ecosystem being an try to stabilize the corporation’s operations, using a perspective to shifting toward an initial public presenting in 12 to eighteen months time, though that timeline is now considerably less particular with The present international economic downturn.
It claimed that Flutterwave’s financial institution accounts have been utilised as conduits for funds laundering underneath the guise of furnishing service provider providers, and that the fintech experienced no proof of retail transactions from prospects purchasing items and providers.
He's a seasoned entrepreneur who has produced two prosperous exits. As a result of his grasp’s diploma in details technology protection and behavioural engineering, he also retains an MBA Together with his software program engineer’s credentials.
The Flutterwave scandal additional contains allegation of sexual harassment towards Agboola. The report claimed that former workforce experienced complained of Olugbenga using his placement to gain sexual romance with subordinate employees users.
The toughest blow arrived when Kenya froze $50 million in Flutterwave’s neighborhood accounts more than licensing disputes and suspicions of cash laundering.
“A lot of issues happened and eventually, I felt like I was not being addressed very well and rendered my resignation. Prior to the make an effort to paint me as everything flutterwave scandal but a stellar worker is manufactured, this, from the business Slack channel says if not,” she launched a number of screenshots from the business’s workgroup which commended her achievements.