Flutterwave CEO Olugbenga Agboola Denies Misconduct Allegations
By Adedapo Adesanya
The Nigerian tech scene has finally got a response from embattled Chief Executive Officer of Flutterwave, Mr Olugbenga Agboola, on allegations bordering on financial impropriety, conflict of interest and s.ex.ual harassment.
According to TechCrunch, Mr Agboola in an email to employees on Tuesday night, denied all allegations against him and the company by first an ex-employee, Mrs Clara Wanjiku Odero and a publication by a journalist, Mr David Hundeyin.
He said, “The fact that the allegations of financial impropriety, conflict of interest and s.ex.ual 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.”
“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,” he added while addressing claims that he started the company while he was at Access Bank.
Responding to accusations that he cashed in on share prices sold below the company’s valuation to employees who had stock options, the Flutterwave CEO wrote, “We followed all legal processes and procedures, including obtaining board approval when needed, when approving the sale of shares.”
He added that “we work closely with our outside law firms to stay in compliance with all applicable regulations.”
Mr Agboola also denied s.ex.ual relations claims saying, “We have previously investigated employee s.ex.ual 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] s.ex.ual harassment and we will continue to take action when necessary. No exceptions.”
He, however, did not touch on the mysterious “Greg” whom he allegedly created to allocate more shares to himself or did he touch on the court cases with Mrs Odero.
While claiming that these allegations were false, Mr Agboola, however, noted that Flutterwave has “made some significant changes to how we communicate transparently in the organisation on compensation, promotions, etc.”
“In addition, all members of the executive leadership team will hold monthly open hours for staff at all levels. This will be a time for us to hear directly from all of you and what we can be doing to be continuously improving,” the Flutterwave CEO noted.
There are no indications that he will be stepping down from the position of CEO.