Flutterwave Co-founder Aboyeji Speaks On Allegations Against Agboola

Following the expose on Flutterwave by a Nigerian investigative journalist, David Hundeyin, more revelations have surfaced.

The Co-founder of the fintech company, Iyinoluwa Aboyeji, has reacted to the allegations against the current Chief Executive Officer of the company, Olugbenga Agboola.

Naija News recalls that Hundeyin in his report titled, “Flutter wave: The African Unicorn Built On Quicksand”, accused Flutterwave of “insider trading, fraud, and perjury” occurring over a 4 year period.

Hundeyin also accused the firm’s CEO, Agboola of engaging in impersonation, inappropriate behaviours in the workplace and engaging in “insider trading” by offering to buy “stock options” from employees at a price “lower” than the “market price”.

He also claimed that Agboola created a fake identity, “Greg Agboola”, who he claimed was also a co-founder that will hold a 10% stake in the firm – but Greg never existed.

Following the damning report, Agboola confirmed that he deceived his partners in the creation of one of Nigeria’s largest tech unicorns.

In a statement on Sunday, via his Twitter handle, Aboyeji said he was shocked by the various allegations against Agboola, adding that he could not believe his partner lied to him regarding the creation of the firm.

Aboyeji added that he was also surprised by the unethical conduct and sexual harassment allegedly perpetrated by his firm’s CEO, denying knowledge of any of the allegations against Agbola.

He described the report as an attack on his reputation and livelihood, stressing that the article does not in any way implicate him.

Aboyeji, however, hinted that the firm will carry out an investigation to enable the Flutterwave board to take appropriate steps where necessary.

He wrote, “The attack on my reputation and my livelihood by a purveyor of yellow journalism pursuing a mission of personal vendetta are 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 steps 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.”