How Nigerian fintech Marasoft paid salaries with suspected fraudulent funds, trigerring account freezes and employee anguish

In October 2024, employees at Marasoft Pay, a Nigerian fintech founded by Emmanuel Marakwe-Ogu, experienced what seemed like a long-awaited resolution: payment of two months of overdue salaries. But their relief was short-lived.

Within days of receiving their payments, employees were stunned to discover that their accounts—along with the accounts of those they had sent money to—were…