Nigeria’s anti-graft agency, the Economics and Financial Crimes Commission, has taken Dr Olumide “D.O” Olusanya, the founder of Kloud Commerce, which shut down over irreconcilable differences into custody.
According to WeeTracker sources, the EFCC came for D.O Monday in the middle of a meeting at the Lekki office of Gloopro, one of the business ventures led by the embattled tech founder who had previously made strides in retail e-commerce through the now-defunct Gloo.ng.
D.O. is still detained, according to WT sources, including a former executive at the now-defunct startup Kloud Commerce, whose investors have taken the matter to the authorities, alleging malfeasance among other things.
“He consistently provided updates with false information to evidence a growth in the business and further deceived us into believing that indeed, the process was progressing,” reads part of an earlier drafted petition by investors.
It wasn’t clear if the EFCC moved on that particular petition.
Kloud Commerce received a $765,000 pre-seed in 2021 to develop a multi-channel commerce solution for African businesses but shut down almost a year later due to poor management and disagreements.
