Re-Plaude’s $4.2m transaction story: Technext stands by the integrity of its editorial process

We have noted with interest a media and legal campaign by Plaude Technologies over a story published on Technext about an alleged $4 million settlement case between Plaude and Zacuten.

Since taking an interest in the notably challenging story months ago, our requests for clarification have been met with legal notices and calls, including one from a security officer. Following the publication, we have been inundated with messages, threats of legal action, and a sponsored media attack using established platforms in Nigeria.

For the avoidance of doubt, Technext wishes to state that it stands by its story and the integrity of the editorial process that brought it to life.

For the sake of open and responsible journalism, we wish to state the following:

1. There is absolutely nothing libellous about our publication. We carefully detailed facts as they happened, and nothing indicates that we set out to defame any person or organisation.
   
   Not even in the media and legal campaigns by Plaude and its director did they dispute the facts as presented.
   
   All that they did was dispute “the manner” they were presented. Nonetheless, “the manner” in which they were presented were clearly described in the story. We stated the facts as we verified them and presented summations where a response would have sufficiently clarified.
   
2. The journalist, Omoleye Omoruyi, independently verified all documents presented. This includes bank statements, registration directories, police investigation outcomes, and warrants of arrest, etc. Our publication only summarised the extent of our findings. We possess documents and email trails that confirm correspondence between the parties and will be willing to make them available when the courts require them.
   
3. Where the journalist was not able to verify a claim or document, he expressly indicated so. We did not claim to have all angles of the story.
   
4. Specifically, Technext reached out to the subjects, including Plaude Director, Olatomiwa Idowu; the CTO, Dayo Osikoya; and the Chief Commercial Officer, Onyeka Akumah. All responses received were included in the story, with a commitment to add more if and when they come.
   
5. Initially, in April, the CTO, Dayo Osikoya indicated his willingness to respond via Whatsapp. He stopped shortly after and deferred to his team’s lawyers. We believe that was on instruction.
   
6. Three days later, Technext received a Cease-and-Desist notice from the lawyers in response to our email which acknowledged that “substantial payments was made to Zacuten. And, Plaude could not complete the forex remittance due to cash flow restrictions”. The document denied other allegations but did not provide transaction details, documents or any other evidence to this effect.
   
7. Notably, the notice specifically demanded that we desist from “publishing any unsubstantiated reports against our Client and/or its officers in any medium whatsoever”.  We hold that our report is substantiated and that a Cease-and-Desist notice is not a court order, and Technext is not legally obliged to comply.
   
8. Aside from the bank statements and details of the original transactions between Zacuten and Plaude Technologies, every other piece of information (including a public announcement by the Nigerian Police) about Plaude’s property seizures, bank account restrictions, warrant of arrest, etc are in the public space. If we fabricated the narrative, did we also fabricate the seizures?

We therefore refute all accusations of unprofessionalism and defamation as have been spread by Plaude Technologies and its Director and reiterate that our story was factual. 

The integrity of the process is solid, and was not published to defame anybody. It was rather written to provide deeper insight into a story that was already a subject of public discourse long before our publication.

Our commitment is to preserve the integrity of Nigeria’s tech ecosystem, an industry that has become a significant contributor to Nigeria’s overall economy and is yet beleaguered by intermittent stories of sharp practices that could jeopardise its future. 

Thank you.