Payday Co-Founder Earns A $15,000 Monthly Salary

“After raising $3 million in March, PayDay is in talks to sell the company. It comes after a publication reported Moniepoint’s intention to buy PayDay in March. While the Moniepoint deal fell through, sources say that PayDay expects to close an acquisition soon.
Perhaps the sale of Payday has been complicated by some bad press, internal issues revolving around salary reductions, and the contentious exit of a co-founder. One of the big claims is that both cofounders have jobs elsewhere. They refuse to confirm or deny the claims.
However, they explained that the salary cuts aren’t due to a depleting runway. Favour, who earned $15,000/mo, says that it reneged on salary agreements to regularise salaries for its Nigerian staff.
The slashes at Payday coincided with the exit of the cofounder, Ogechi Obike. She says that she left due to a mutual agreement that her goals no longer coincide with Payday’s. However, some employees and ex-employees blame the disrespectful relationship between her and Favour.”

Credit: Techcabal

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