Techbytes #2: Legal expert discuss insider trading, harassment at Flutterwave

David Afolayan
Was there insider trading at Flutterwave?
Techbytes 2: Calendly, insider trading Flutterwave and other issues in the tech space
Techbytes 2: Calendly, insider trading Flutterwave and other issues in the tech space

In case you missed the first episode of Techbytes, don’t worry, we got you.

We started with the story of the CBN fining six banks up to 1.31 billion naira, where we talked about how the CBN has the infrastructure to detect crypto transactions but won’t share to commercial banks, so they have the opportunity to keep dishing out fines.

We also discussed Jack Dorsey‘s first tweet sold as an NFT, and other stories. You can listen here.

The second edition of Techbytes started briefly with the Flutterwave story, hosted by Onyinye and David Afolayan. The one where the company’s CEO, Olugbenga Agboola was called out for supposed illegal activities, especially insider trading.

On the positive side, Calendly founder, Tope Awotona, who is now one of America’s wealthiest immigrants. We say exciting, and you say we are overreacting?

Calendly is worth $3 billion and has achieved its unicorn status.

Techbytes 2: Calendly, Flutterwave and other issues in the tech space
Techbytes 2: Calendly, Flutterwave and other issues in the tech space

Calendly which started with a $200,000 life-saving investment, has grown tremendously and has made more than $100 million in revenue, especially after its popularity spike during the COVID-19 pandemic.

Technext

The interview of the day focused on Flutterwave, the most valuable startup in Africa, that got into the news for insider trading, and other conversations that came up later, including abuse of power, harrassment and so on.

David Etido, a private equity lawyer and associate at Udo Udoma & Belo-Osagie, was the guest, and detailed what insider trading means as per the story by freelance journalist, David Hundeyin.

We need to have more information from the trading activities first before we can make a call to say it is illegal insider trading or not.

David Etido

On harassment, David Etido says there should be a clear definition as the issue of workplace harassment, especially sexual harassment, is not clearly defined in Nigerian laws.

Sexual harassment can be in the form of words.

David Etido

David asks Nigerians to take advantage of the positions of the law on harassment and report cases, so the culprit is brought to book.

The lawyer also discusses the position of the law on change of client from prosecutor to defendant on same case, even after payment has been made as per Flutterwave and its ex-employee.

Conflict of interest or illegal purpose can make a law firm withdraw and change client.

David Etido

Listen to the full podcast here, and continue the conversation.

Meanwhile, wait for episode three next week as we promise another exciting conversation. Should we say see you then?


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