New Media Day 1 Presentation

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Caribbean School of Catholic Communications

This is the Day 1 Presentation for the New Media workshop of the Caribbean School of Catholic Communication, August 8, 2011.

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Are you wondering why everyone is talking about the Flutterwave scandal? You’re not alone! It’s been in the news a lot. We’re going to tell you all about the Flutterwave Scandal in a way that’s easy to get. Keep reading, because we’re going to share the whole story with you. The company Flutterwave is headquartered in San Francisco, California, United States. In 2016, Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya established Flutterwave. It offers a payment infrastructure to international merchants and payment service providers throughout Africa. The company operates in various African countries including Nigeria, Kenya, Uganda, Ghana, South Africa, and others. They focus on digital payments, helping businesses accept and process payments on various channels like the web, mobile, ATM, and POS. Recently, they’ve been in the news due to allegations of misconduct within the company, which has affected their reputation and value. Flutterwave is an essential player in the African fintech landscape, aiming to drive growth for banks and businesses through digital payment solutions. The Flutterwave scandal involves allegations of misconduct and inappropriate behaviour towards female employees by the company’s co-founder and CEO, Olugbenga Agboola. Reports have surfaced from both current and former employees about bullying, intimidation, and sexual harassment at work. The allegations of inappropriate behaviour towards female employees at Flutterwave, specifically involving the CEO Olugbenga Agboola, were brought to public attention in April 2022.This was when Clara Wanjiku Odero, an ex-employee and current CEO of Credrails, published a Medium post and a series of tweets on April 4, 2022, accusing Flutterwave and Agboola of bullying. These allegations were part of a broader range of misconduct claims that surfaced around the same time The reasons behind the scandal are rooted in accusations of unethical behavior within the company. The allegations suggest a workplace culture that allowed for misconduct and failed to protect employees from harassment and intimidation. Specifically, the Flutterwave scandal refers to the series of events where the CEO was accused of engaging in improper conduct with female colleagues. This led to a broader investigation into the company’s practices and raised serious concerns about the fintech’s corporate governance. The scandal had significant repercussions, including a drop in the company’s stock price and a loss of trust among customers and partners. The trust that customers and investors had in Flutterwave was greatly damaged. People started to doubt the company’s integrity and whether their money and personal information were safe. Market Impact The scandal shook the entire fintech market. Flutterwave’s competitors saw this as an opportunity and started to attract customers who were leaving Flutterwave.

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