Agrikore Gate: Cellulant Nigeria CEO Bolaji Akinboro Resigns, 35 Staff Sacked

This happens to be the 3rd unfortunate case of Nigerian founders having issues with their company boards in last couple of weeks.

Inclusion Times
Inclusion Times

Cellulant Nigeria CEO, Bolaji Akinboro, has resigned from his position while 35 members of staff have been sacked due to irregularities observed with Cellulant's Agrikore marketplace program.

Cellulant is a Pan-African digital payments and transfer fintech with a respected presence across Nigeria, Liberia, Kenya, Tanzania, Ghana, Uganda, Zambia, Mozambique. Nigeria's Bolaji Akinboro and Kenya's Ken Njoroge founded it in 2004.

Cellulant
Cellulant-Co-founders – Bolaji-Akinboro-and-Ken-Njoroge

Agrikore is a mobile blockchain-based platform that has served more than 10 million farmers across Africa, connecting them to the market and helping them sell their goods to a diverse range of buyers more easily. The platform also expands access to government subsidy programs to help reduce costs for farmers, increase their yields, and raise incomes.

Last week, reports got out of Bolaji Akinboro resignation from Cellulant Nigeria as well as the sack of over 30 members of staff.

This happens to be the 3rd unfortunate case of Nigerian founders having issues with their company boards in last couple of weeks. Cars45 co-founder Etop Ikpe recently left the company after a board issue while HealthPlus founder, Bukky George is fighting for the company as the PE firm that invested in the company is trying to take over its operations.

Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)

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