Due to allegations of sexual misconduct, Risevest CEO Eke Eleanya Urum has been asked to step down

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Investors in the business have advised Risevest’s—Nigeria-based stock investment app— founder and CEO, Eke Eleanya Urum, to step down from his position due to continuing investigations into charges of sexual and non-sexual wrongdoing.

“Following allegations of sexual and non-sexual impropriety from someone who can be reasonably expected to have knowledge of such, investors of Risevest have asked Eke Urum to step aside from his role as founder and CEO and an independent investigation is ongoing,” a part of the statement reads. 

According to TechCabal, Eke learned about the accusations made against him for the first time on August 1.

“I was told on the evening of August 1 by investors that someone reached out that there were allegations of bullying, sexual harassment, and intimidation,” said, Eke over a call to TechCabal. 

Two days later, He reportedly stepped down from his position. Tony Odiba, the organization’s current head of operations, will serve as acting CEO while Eke waits patiently for the conclusion of the investigation.

TechCabal reports, In his place, the company’s current head of operations, Tony Odiba, will be acting CEO. Otasowie Evbuomwan, will lead its US operations. Investors have committed to supporting them settle into their new roles in light of the ongoing investigation. 


Founded in 2019 by Bosun Olanrewaju, Eke Urum, and Tony Odiba, Risevest allows Africans to invest in foreign investment opportunities. The company’s last funding was an undisclosed seed round in March 2021. And its disclosed funding to date is a $120,000 seed round from July 2020. In August 2021, Risevest, which then had over 12,000 people present in its Telegram learning community, was one of four fintech companies whose accounts the Nigerian central bank froze for 180 days for engaging in speculative trading that allegedly weakened the naira against the dollar. Two months later, in October, the company overturned the order. 

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