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For Immediate Release

Lagos; Cellulant Corporation and Cellulant Nigeria Limited (together “Cellulant”) and its Co-Founder and Ex-CEO Bolaji Akinboro (“Bolaji”) are pleased to announce that we have come to a mediated settlement that puts an end to all litigation and claims between us.

By promptly stepping aside from his Co-CEO role, Bolaji allowed Cellulant’s forensic review and internal investigation to proceed unimpeded. We are pleased to announce that neither of these has resulted in any findings of financial misconduct or personal impropriety on the part of Bolaji. We welcome this development as it cleared the way for an amicable end to the disputes between the parties.

Cellulant wishes Bolaji all the best in his future entrepreneurial initiatives.

Signed

Sam Kiruthu 

Chairman of the Board

Cellulant Corporation

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