In October 2024, employees at a Nigerian fintech company faced a challenging situation regarding their overdue salaries. After finally receiving their payments, their accounts were unexpectedly frozen due to funds being traced back to a suspected fraudulent source.
The company operates in Kenya and Nigeria, processing transactions through a Flutterwave wallet as it lacks local licenses in Kenya. Following a glitch that allowed access to more funds than available, the CEO initiated numerous withdrawals, causing concern among employees already frustrated by delayed payments.
Despite attempts to resolve the issue and reassurances from the CEO, employees faced further complications as their accounts remained frozen. The aftermath led to financial difficulties for some employees, highlighting the impact of the incident on their personal lives.
While the company resumed operations in January and some employees returned, the situation left a significant impact on those affected. Requests for comments from the CEO went unanswered, leaving many questions unanswered regarding the series of events that unfolded.