Connect with us

STRAY BULLET

Exclusive: How Medsaf UK Packaged Husband Crumbled PharmaTech Company in Less Than One Year

Published

on

Exclusive: How Medsaf UK Packaged Husband Crumbled PharmaTech Company in Less Than One Year
Spread the love

Secret Reporters

Medsaf, the once-burgeoning end-to-end pharmaceutical procurement platform, has plunged into chaos due to actions undertaken by its Chief Operations Officer, Rotimi Lawal enabled through an ill-fated marital romance with the founder Vivian Nwakah.

A credible insider source has disclosed to SecretReporters that the deteriorating situation at Medsaf can be traced back to the complex dynamics within the company’s top leadership. The source reveals that the relationship between Lawal and Vivian, the Chief Executive Officer, has seemingly played a pivotal role in the downfall of this once-promising enterprise.

Conceived as a carefully curated marketplace for medications tailored to African hospitals and pharmacies, Medsaf initially appeared to be on an upward trajectory. However, the narrative took a starkly negative turn when Lawal, who not only became the COO but also Vivian’s husband following his entry into the company, took charge of its operations.

The source unveiled that well before their lavish wedding, which appeared to be financially backed by the CEO herself, the company was already reeling under Lawal’s mismanagement, leading to salary arrears for staff members.

In a deeply concerning development, the couple went ahead with their extravagant wedding festivities despite the evident financial distress of the company, thus compounding the hardship faced by the employees. Regrettably, this was just the outset of a series of dire events as SecretReporters would later learn.

Following the eventual collapse of Medsaf, Lawal vanished into thin air, leaving behind a trail of unaccounted company assets, including valuable equipment and vehicles. Interestingly, Lawal’s LinkedIn profile, which formerly highlighted his role as the COO of Medsaf, has been rendered inactive, thereby expunging any trace of his association with the company.

Concurrently, Vivian has taken the unprecedented step of erasing Lawal’s name from her LinkedIn profile, which is a stark departure from her initial addition of his name following their marriage.

Adding a further layer of intrigue, Vivian’s sudden engagement in religious pursuits amidst these adversities has captured the attention of those in her inner circle.

The aftermath of Medsaf’s catastrophic downfall has left in its wake a trail of devastation. Employees who were already grappling with unpaid salaries were abruptly laid off earlier this year. Lawal’s assurances to employees regarding the settlement of dues, communicated via Slack, proved to be empty promises, leaving staff members empty-handed.

In an attempt to explain the company’s downfall, Rotimi Lawal informed employees that the company had to downsize its workforce due to a constellation of challenges, ranging from funding shortfalls to outstanding receivables caused by various macroeconomic policies and the dismal payment practices of hospitals in the industry.

Caught in a precarious predicament, Vivian Nwakah now faces mounting pressure from investors and clients alike, all demanding answers. Among the notable investors is Crunchbase, which had previously extended a generous $50,000 grant to Medsaf. With a roster of at least 14 investors and a LinkedIn following surpassing 5,000, the sudden and dramatic disintegration of Medsaf has sent seismic shockwaves through the pharmaceutical procurement sector.

Vivian co-founded Medsaf in 2017 with a mission to combat the pervasive threat of counterfeit and substandard drugs in Nigeria and across Africa. The company’s website boldly defines Medsaf as “a curated medication marketplace for African hospitals and pharmacies.” It asserted a remarkable growth of 200% during the pandemic and proudly announced securing $2.7 million in funding in January 2022.

Insiders privy to the situation have indicated that Medsaf began encountering difficulties in mid-2022, notably with delayed salary payments causing distress among employees. Sources suggest that the CEO had informed the workforce about the company’s intention to secure additional funds.

However, the company has closed their Lagos office in Ikoyi and moved to an unknown location in Victoria Island, another source said.

As the beleaguered over 20 staff continue to vociferously demand their long-overdue salaries and investors grapple with mounting frustration, the future of Medsaf remains in jeopardy. What was once a promising vision to revolutionize medication procurement has been tragically eclipsed by a narrative of managerial missteps, personal entanglements, ill-fated romance, and financial ruin.

Latest

Corruption2 hours ago

Under NEPAD Nigeria, DG Princess Gloria Akobundu Hid N12 Billion By Not Keeping Proper Accounting Records At All

Spread the loveSecrets Reporters The New Partnership for Africa’s Development, now operating as AUDA-NEPAD, represents Nigeria’s arm of a continental...

Contract Fraud6 hours ago

Exclusive: How SMEDAN DG, Charles Odi Who Was Nominated By Seyi Tinubu Mismanaged ₦1.97 Billion

Spread the loveSecrets Reporters The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) exists to help the country’s small...

Corruption10 hours ago

Fed Min Of Industry, Trade & Investment Records N3.07bn in Questioned Transactions as Funds Are Misapplied, Payments Bypass Controls

Spread the loveSecrets Reporters   Amid the intricate paper trail of government finance, millions of naira moved through the Federal...

Contract Fraud12 hours ago

Exclusive: No National Population Census Since 2006, Yet Agency Chairman Nasir Isa Kwarra Said He Spent ₦240 Billion To Count Nigerians

Spread the loveSecrets Reporters Nigeria has not conducted a national census since 2006. For nearly two decades, the National Population...

General News1 day ago

Friends, associates gather to celebrate MB Anugwa’ graduation from National Defence College Abuja

Spread the loveSecrets Reporters It was a moment of liveliness and celebration as friends, family members and associates of Controller...

Executive Secretary and Chief Executive Officer Daniel Asapokhai Executive Secretary and Chief Executive Officer Daniel Asapokhai
Corruption1 day ago

Former FRC CEO, Daniel Asapokhai Questioned for N138.7 Million in Unremitted Surplus, Unapproved Legal Fees and Foreign Trips While in Office

Spread the loveSecrets Reporters In a detailed indictment contained in the Auditor-General for the Federation’s Annual Report on Non-Compliance and...

Chief Registrar, Habu Yerima Saleh Chief Registrar, Habu Yerima Saleh
Corruption1 day ago

Investment and Securities Tribunal’s N18 Million Black Hole Under Chief Registrar Habu Yerima Saleh: Unvouched Payments, Extra-Budgetary Spending and Silence from Management

Spread the loveSecrets Reporters A quieter but equally troubling set of findings have revealed non-compliance and internal control weaknesses at...

Boardroom Scandals2 days ago

₦1.37 Trillion Unrecovered: The Auditor General’s Report That Put Governor Yemi Cardoso Central Bank On Trial

Spread the loveSecrets Reporters The Central Bank of Nigeria is supposed to be the guardian of the nation’s monetary integrity,...

Corruption2 days ago

N2.05bn Customs Audit Bombshell: N1.94bn Taxes Unremitted, N103.5m Legal Fees Questioned Under Hameed Ali

Spread the loveSecrets Reporters   Troubling financial and administrative lapses have been discovered in the Nigeria Customs Service Headquarters in...

Contract Fraud3 days ago

Cash In Hand: The Multi Million Naira Olubunmi Tunji-Ojo Federal Ministry Of Interior Money Paid Directly To Individual Staff Accounts Without Vendors

Spread the loveSecrets Reporters A government ministry does not run on personal bank transfers. Government financial system in the world...

Managing Director/CEO Jane Nkechi Egerton-Idehen, NIGCOMSAT Managing Director/CEO Jane Nkechi Egerton-Idehen, NIGCOMSAT
Corruption3 days ago

A Satellite Agency Building Roads And Community Halls: Inside MD Jane Egerton-Idehen N236 Million Mandate Violation At NIGCOMSAT

Spread the loveSecrets Reporters The Nigerian Communications Satellite Limited exists for one reason, which is to build, deploy and commercialise...

Corruption4 days ago

Exclusive: Abacha’s Pointman And Nigeria’s Minister Atiku Bagudu’s Quiet Owned Texas Property Raises Fresh Questions Under Nigeria’s Asset Declaration Rules

Spread the loveSecrets Reporters While Abubakar Atiku Bagudu directs Nigeria’s national budget and economic planning from Abuja, public records in...

Corruption4 days ago

Prof. Joseph Eberendu Ahaneku and The N348.86m Questionable Expenditure, Investments, and Allowances in Nnamdi Azikiwe University

Spread the loveSecrets Reporters   A review of the Nnamdi Azikiwe University (NAU), Awka, Anambra State, has exposed  about N348.86...

Corruption4 days ago

N5 Billion On “Travel and Training”: Inside Dayo Mobereola’s First Full Year Of Questionable Spending As NIMASA DG

Spread the loveSecrets Reporters Dr. Dayo Mobereola was appointed Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) in...

Corruption4 days ago

Exclusive: Federal Government Indicts MDGIF Director Oluwole Adama Of N33.6 Billion Under-Remittance of Gas Flares Penalty To Public Purse

Spread the loveSecrets Reporters Nigerians will be witnessing series of financial misappropriation investigation and public hearings of those heading government...

Corruption4 days ago

Exclusive: N1 Billion Into Private Pockets: How Finance Permanent Secretary Lydia Jafiya Routed Public Funds Through Personal Bank Accounts In Six Days

Spread the loveSecrets Reporters Public funds are meant to move through public channels via ministries, agencies, contractors with verifiable corporate...

Corruption5 days ago

Private Business Claims Linked to Permanent Secretary John Chidiebere Ezeamama in Violation of Code of Conduct for Civil Servants

Spread the loveSecrets Reporters   SecretsReporters has reviewed public records concerning Dr. John Chidiebere Ezeamama, the Permanent Secretary of the...

Corruption6 days ago

N1.63 Billion Web of Questionable Spending Uncovered at Nigeria’s Peace Institute

Spread the loveBy Secrets Reporters SecretsReporters has obtained internal records exposing a pattern of financial irregularities at the Institute for...

Contract Fraud7 days ago

Olodo Uprising: How MDGIF Boss Oluwole Adama Paid N326 Million To Take Advise Yet No Advise Was Given

Spread the loveSecrets Reporters The Executive Director of Midstream and Downstream Gas Infrastructure Fund (MDGIF), Mr Oluwoke Adama is in...

Corruption1 week ago

University of Ilorin, Kwara State: How ₦1.27bn in IGR and PAYE Remittances Went Unaccounted For

Spread the loveSecrets Reporters    The University of Ilorin, Kwara State, has come under the radar of SecretsReporters over the...


Support Independent News