Leatherback CEO Sues EFCC for Defamation 

Ibrahim Ibitade, CEO of Leatherback, a cross-border payments startup that operates in seven countries, has successfully cleared his name following an intense episode with Nigeria’s anti-graft agency, the EFCC. Ibitade deemed the EFCC’s actions bullying and is now seeking accountability for the agency’s lack of due diligence. Leatherback denied the rumours, of lost money to SDQ Facilitators but an EFCC investigation into SDQ Financials was launched. The investigation revealed that SDQ used Leatherback’s naira and USD wallets, but Leatherback claims they were unaware of any fraudulent activity. Leatherback says it will continue its trajectory towards success, as the company claims it processed $500 million in monthly transactions by June 2023 and was nearing the $1 billion mark before the EFCC episode.