A Nigerian fintech company, founded by Emmanuel Marakwe-Ogu, has responded to accusations of paying employees with potentially fraudulent funds. The company, Marasoft, refuted the claims without providing detailed information, citing confidentiality agreements.
Reports surfaced on January 25 regarding these allegations, based on interviews with former employees and Flutterwave, the alleged wallet provider involved in the fund transfers.
Despite denying the allegations, Marasoft did not offer any evidence to support its stance. The company attributed the accusations to disgruntled ex-employees spreading false information.
When pressed for clarification or documentation, Marasoft’s response was vague, stating that the claims stemmed from personal issues. Allegations included withdrawing $54,000 from a wallet due to a glitch and using the money for payroll.
Former employees mentioned their bank accounts being blocked due to suspected fraudulent funds, with evidence indicating their salaries were linked to a fraudulent source.
While Marasoft denied reports of pausing operations and attributed workforce reductions to economic factors, documents from former employees suggested otherwise.
An internal communication from January 6, 2025, announced Marasoft Pay’s planned full operations with a streamlined team focused on essential roles for future growth.
Moreover, Marasoft refuted any involvement in a 2022 Kenyan court case related to fund deposits into Flutterwave, dismissing court documents that mentioned the company.
Former employees maintain their claims, providing supporting documents, though these have not been independently verified. The lack of substantial evidence from Marasoft raises questions about the company’s transparency.