The news
- A former Kuda executive has alleged gender discrimination and wrongful termination.
- Claims include a toxic work environment and unequal stock option allocations.
- Kuda has acknowledged the lawsuit but declined to comment further.
In a recent legal filing, Rosemary Hewat, the former Group Chief People Officer at Kuda, has accused the Nigerian fintech company and its CEO, Babatunde Ogundeyi, of fostering a discriminatory workplace culture. Hewat’s lawsuit alleges that she faced gender-based discrimination, was denied equitable stock options, and was unjustly terminated after voicing her concerns.
Hewat, who joined Kuda in 2021, claims that despite the company’s public commitment to gender inclusivity, internal practices told a different story. She describes a workplace where female employees were routinely undermined and excluded from key decision-making processes.
Specific incidents cited in the lawsuit include public humiliation of female staff during a strategy retreat in December 2023, where Ogundeyi allegedly made disparaging remarks about their socioeconomic backgrounds.
Additionally, Hewat asserts that Ogundeyi cultivated a culture of fear, with employees reportedly viewing him as unapproachable and authoritative.
A significant aspect of Hewat’s complaint centers on the allocation of Employee Stock Ownership Plans (ESOPs). She contends that, contrary to her contractual agreement, she was offered stock options at a higher Series B valuation, while a male colleague in a similar executive role received options at the more favorable Series A price. When she raised this discrepancy, Ogundeyi allegedly dismissed her concerns, suggesting that her colleague’s role was “more important” than hers
The lawsuit further details that after Hewat voiced her grievances regarding the discriminatory practices and stock option disparities, she experienced increased marginalization within the company.
She was excluded from pivotal meetings and found her responsibilities gradually reassigned to other executives. Her employment was terminated in February 2024, an action she believes was a direct retaliation for her complaints.
Notably, Kuda’s Chief Technical Officer, Mutairu Mustapha, purportedly acknowledged the termination as a “mistake” and encouraged her to return, adding complexity to the circumstances surrounding her dismissal.
While Kuda has confirmed receipt of the lawsuit, the company has refrained from commenting on the specific allegations.
A spokesperson stated, “In line with our current policy and out of respect for privacy, we do not comment on matters of this nature involving current or former employees.”
Meanwhile, CEO Babatunde Ogundeyi has not issued a public statement regarding the lawsuit.
