Dubai-based Nigerian tech investor and entrepreneur, Mr. Danny Oyekan, has refuted widespread claims linking him to a failed borrower-lender relationship in the ongoing controversy surrounding Bridge Network, a blockchain startup currently facing internal crises.
Speaking to journalists over the weekend, Oyekan clarified that he had no operational role in the troubled firm, noting that his involvement was strictly limited to a capital investment made through his Africa-focused investment firm, Dan Ventures.
“In April 2022, Dan Ventures provided investment funding to the startup,” he said. “At no point did I enter into a borrower-lender agreement, nor was I part of day-to-day operations. All transactions were professionally documented and handled within legal frameworks.”
He remarked that the misinformation circulating across social media platforms misrepresents the facts and has diverted attention from what he described as the core issues — internal power struggles among co-founders and mismanagement of the company’s finances.
According to Oyekan, by January 2023, leadership disputes had begun to undermine the startup’s early promise. These tensions culminated in the ousting of the founding CEO, who had previously signed off on the investment agreements and had approved partial reimbursement to Dan Ventures before her removal.
“The CEO, who remains the only legal shareholder of the company as of today, had approved a repayment that would have significantly reduced the liability owed to Dan Ventures, Unfortunately, the process was disrupted following her abrupt exit,” he said.
He further confirmed that his firm was pursuing the matter through legal channels, having submitted all necessary documentation to legal counsel and appropriate regulatory authorities. He assured that updates would be provided as due process unfolds.
Oyekan is the founder of Blockfinex, a digital asset trading platform, and Dan Ventures, which has made early-stage investments in Web3 and blockchain startups across Nigeria, Ghana, Kenya, and the United Arab Emirates.
Despite the challenges associated with the Bridge Network investment, the tech entrepreneur said he remains focused on his long-term vision of driving innovation and financial inclusion through blockchain technologies in Africa.
He said, “These kinds of setbacks are not unusual within global venture ecosystems just as the priority is to respond with integrity and stay focused on building solutions that serve real needs.”
He, however, asserted that Dan Ventures would continue supporting African tech founders and blockchain developers, even in the face of controversy. He described recent events as unfortunate attempts to distract from substantive work taking place in the continent’s emerging digital economy.
“Our responsibility as innovators is to keep building Africa’s future in technology requires long-term commitment, not short-term sensationalism,” he said.
Oyekan reiterated his belief that Africa remains a critical frontier for digital innovation and stressed the importance of credible investment and sustained mentorship for the next generation of tech entrepreneurs.
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