Risevest CEO steps down indefinitely, on allegations of workplace misconduct, following investors’ order

An investigative panel of investors have advised Risevest co-founder, Eke Urum to step down as CEO following allegations of sexual and non-sexual misconduct. Techpoint Africa confirmed this in an official statement dated August 19, 2022, which further revealed that Tony Odiba, the startup’s Head of Operations will take up the CEO mantle in the interim.

A 3-man panel has been instituted to carry out an independent investigation to verify these claims. This action is suspected to be necessitated by several harassment accusations that may have been laid against the founder. While the investment-tech founder has agreed to step down, the investigation panel is trusting that testimonies from ex-employees and current staff will provide more clarity.

Recall that in 2021, Eke was accused of non-sexual workplace misconduct when he had a fallout with the then Head of Marketing, Efe Uduigwomen. The disgruntled ex-employee remarked that the startup’s work culture was unhealthy. Risevest investors, in the statement, however, attempted to allay any financial misappropriation fears that would usually arise when an investment platform that claims to be helping thousands of people invest in various investment portfolios is in the news for the wrong reasons.

While this latest revelation might raise a new wave of #HorribleBosses conversations, especially in the wake of layoffs, it is feared that fresh allegations might only be disclosed in hush tones. During a Twitter Spaces held on the topic in March, with thousands of listeners, Eke’s name came up among the pile of testimonies made against some Nigerian startup founders and CEOs for bullying employees, although no case of sexual harassment was explicitly confirmed.

A Business Insider report notes how Silicon Valley tech companies are using Non-DIsclosure Agreements (NDAs) to promote toxic workplace culture. One of the findings revealed that some of these NDAs subtly or ostensibly prevent employees from sharing experiences of harassment and discrimination.

Apparently, getting affected individuals and witnesses to speak freely is critical to evaluating and deciding Eke’s case since it cannot be confirmed if Risevest does not make its staff sign NDAs that have nothing to do with trade secrets.

babaolofin:


This is just a cover-up to the systematic elimination of people from CEO's position based on planned setup by people from a particular region. As I posted about five or six months ago, nearly all the complainants of workplace abuse are from a particular region while 98% of accused CEOs are from a particular region. The immediate beneficiary of the replaced CEOs are always from the region of those complainants (supposed victims) of workplace abuse. It then shows most of the time that it was a planned setup.

Looking critically at this one, this is quite difference as the complainants, suspended CEO and the beneficiary CEO are from the same region.

yinkus6750:
That you are an employer , gives you no moral justification to bully or harass your employee.
At least he has done the needful as expected of a sane leader
Let other CEOs learn from the ugly and unfortunate experience

Cutehector:
I know his father. Rich kids cannot just manage anything. First it was diamond bank's ceo's son who mismanaged diamond bank and brought it down to ruins.

When it comes to business, allow competency to precede over family.

dochenaj:
This is how the Senate should have forced Buhari to leave office in his first tenure but man still contested for second tenure and they helped rig him in as usual.