How Nigerian fintech Marasoft paid salaries with suspected fraudulent funds, trigerring account freezes and employee anguish
- Employees at Marasoft Pay received overdue salaries in October 2024.
- Accounts of employees were frozen due to funds traced to suspected fraud.
- CEO Emmanuel Marakwe-Ogu withdrew over ₦84 million from the company's Flutterwave wallet.
The situation at Marasoft Pay raises serious concerns about financial governance and ethical practices within fintech companies. The apparent misuse of funds and lack of transparency from leadership not only jeopardizes employee trust but also poses risks to the broader financial ecosystem. A thorough investigation and accountability measures are essential to restore confidence in such institutions.
