Workplace bullying, horrible bosses, and sexual harassment are conversations that have dominated the Nigerian social media space in recent times.
Not a few persons started dragging their bosses online following this story about Ebun Okubanjo, the co-founder of Bento, a payroll support solution provider.
It seemed to be dying down until Tuesday, when investigative journalist, David Hundeyin published his story about Nigeria’s most valuable fintech, Flutterwave.
The story details reports of undervaluation of employee stock options, alleged insider trading, and sexual harassment claims.
It also paints the picture of an all-powerful CEO who uses multiple identities and abuses power.
Flutterwave was yet to respond to the allegations by Wednesday afternoon.
The story has got Nigerians and non-Nigerians talking online, with thousands attending a Twitter Space that was hosted a few hours after it was published.
Just read the piece on Flutterwave. I’m just too stunned to comment and opine. This is just deep. Receipts.
— Rebecca Enonchong (@africatechie) April 12, 2022
Many, like @TheOgbonna are of the opinion that the revelations will negatively affect investors who may be thinking of putting their money in the Nigerian tech space.
I'm deeply worried about the impact of this #flutterwave story on attracting investors into the Nigerian tech space.
— Papa Adaugo 🧚 (@TheOgbonna) April 12, 2022
For some persons, it’s just the beginning of more revelations, especially for start-ups. For others, it will only affect the tech ecosystem for a short while.
The #flutterwave scandal is just beginning. There's more to come. This could cast a large shadow over Nigerian tech and valuations. https://t.co/cKMv2RzZkP
— Matt Flannery (@mattflannery) April 12, 2022
I see comments on how this story will hurt African startup ecosystem. On the short term yes. But in the long term, with more @DavidHundeyin trust will come. Same stories happen everywhere. Trust comes when u know the bad guys will be exposed & won’t go away with it.#flutterwave https://t.co/lNFzZgH33u
— Julien Wagner (@JulienWagner1) April 12, 2022
David Hundeyin’s Flutterwave exposé, exposed the web of toxicity, sexual harassments & criminality that built most Nigerian companies.
— NEFERTITI (@firstladyship) April 12, 2022
GB’s Flutterwave will face ethical questions in USA, but nothing will happen to them in Nigeria. Corporate Yahoo is a cultural thing in Nigeria.
I find it shocking the people are saying the Flutterwave article won’t negatively effect our ecosystem…if the alleged fraud is true then the most valuable startup in Nigerian fintech is worth a lot less. It changes priors. I hope I’m wrong…
— Meghan McCormick (@muhzle) April 12, 2022
Iyin Aboyeji, a co-founder of Flutterwave who left the company in 2018, says Mr. Hundeyin's portrayal of him is fictitious.
