Cellulant stated through an internal statement: “While conducting a compliance review on the Agrikore platform, we identified certain aspects of the compliance infrastructure and control framework of the platform that have not kept up with the platform’s rapid growth. An investigation revealed that 14 Agrikore employees had inappropriately received funds from Agrikore wallets. There is no indication that customer funds were compromised.”
This is one of the reasons why Bolaji Akinboro resigned from all his managerial positions at the company.
The 14 employees involved in this misappropriation scandal have since been sacked. According to cellulant, Agrikore will be under suspension for the next 6 - 8 weeks. This will enable the company to conduct a comprehensive review of all aspects of Agrikore operations and make the integrity of the platform a top priority.
However, Cellulant’s e-payment services across Nigeria, Kenya and nine (9) other African countries will continue to be operational.
Speaking on the situation, Dr Sam Kiruthu, Chairman of Cellulant’s Board of Directors said: “The payment business in Nigeria therefore remains operational while we conduct the review of Agrikore. Our other markets are also fully operational, and we remain committed to providing innovative solutions that support the business objectives of all our business partners and customers,”
Cellulant has hired one of the Big 4 accounting company to conduct a thorough forensic review of the marketplace. Another well respected Nigerian law firm has also be contacted to lead an independent investigation of the platform and all those involved in the case.