Eke Urum, the founder and CEO of Risevest, was found guilty of sexual misconduct and abuse of power.
Urum was suspended in August after a staff member was accused of s3xual and non-s3xual abuse.
According to a company statement, the six-week investigation found no evidence of sexual assault.
However, the evidence showed “s3xual relations with an employee; unwanted, inappropriate jokes and conversations revealed s3xual impropriety”.
“It also showed a pattern of abuse of power, intimidation, retaliation and workplace bullying”, it added.
The investigation team interacted with nearly 60 former and current employees before reaching its decisions.
The panel, which comprised Tomi Davies, Odun Longe and Toun Tunde-Anjous, recommended that Urum should not be reinstated as CEO.
Tony Odiba, the acting CEO, will remain in the capacity until a substantive chief executive officer is appointed.
Urum is now a non-executive board member and will lead the firm’s investment strategy and provide guidance on technology.
“I regret the distraction that my actions may have caused and fully respect the integrity of the process the Risevest investors and the panel underwent”, Urum told TechCabal.
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