Founder of movie streamer, IrokoTV, Jason Nkoku, has said funds raised by Nigerian tech startups need to be scrutinised following the allegations made against Flutterwave co-founder, Olugbenga Agboola.
IgbereTV had earlier reported that Agboola was accused of using his position in Access Bank to favour Flutterwave during investor calls, by acting as the lender’s representative, without the approval of his employer.
This has raised questions regarding the capital secured by Flutterwave since its establishment in 2016. The payment processing company has obtained over $474.5 million Venture Capital funds.
In reaction to the allegations against Agboola on Wednesday, Njoku wrote on his Twitter page, that such report is important to tame the exaggeration surrounding capital inflow in Nigeria, which is one of the top two beneficiaries of VC investment in Africa.
He said it was shocking to read the allegations, and if the report was true, then what Flutterwave did was wrong, and both Agboola and the firm must remedy the situation.
“Telling these stories are actually important in how we grow our ecosystem into self sustainability. In the long term thats all that matters. What we have now is hypebole to an extreme. Been saying it for years. Hot emerging market money poured into Nigeria with zero checks & balances.
“There is so much wrong doing happening right now across Nigeria. We need to heal. We fortunate enough to have the (money) & chance need to hold ourselves to a higher standard. Nigeria Inc has been in the mud for a while now. We were supposed to be different. Time to show difference
