Kenya’s Assets Recovery Agency (ARA) has dropped a lawsuit against three Nigerian companies; Avalon Offshore Logistics Limited, OIT Africa Limited, and RemX Capital Limited, which were at the epicentre of an international money laundering syndicate and were at risk of losing Ksh5.7 billion (US$47.34 million) to the state crime proceeds. …
Nigerian fintech company, Flutterwave, is embroiled in a serious legal quagmire in Kenya, as authorities in the East African country have seized $56.7 million (6.7 billion Kenyan shillings) belonging to the company on allegations of conducting suspicious transactions and failing to comply with financial regulations. According to the Kenyan Star, state prosecutors alleged, “Investigations established […]