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August 7, 2022
Ping Express, the FinTech company founded by two Nigerian tech entrepreneurs and registered in the United States of America, has debunked claims and reports that the company or its past directors were involved in money laundering or fraud. SaharaReporters had reported that the Nigerian Fintech Company owners were jailed in the United States of America over $160million alleged proceeds of fraud sent to Nigeria.
August 5, 2022
In July 2022, African tech startups raised $239,706,000, the lowest so far in 2022. Catch up with the leading African tech moves from July 2022.
August 2, 2022
Youverify, an identity verification company helping African banks and startups, is announcing that it has secured a $1 million seed round extension.
July 21, 2022
This is why it is important to separate real criminals from audacious serious-minded innovators who have ventured into a global sector with limited African participation.
July 19, 2022
Anslem Oshionebo, 45, and 43-year-old Opeyemi Odeyale were sentenced after being found guilty of failing to maintain effective anti-money laundering controls and unlicensed money transmitting, Bloomberg reports.
July 18, 2022
Last week, several fintechs announced the shutdown of virtual USD Cards for their users. Flutterwave, PayDay, Busha, and Eversend, all announced that their virtual dollar cards and wallets would be terminated indefinitely. Read more in #TCDaily.
July 18, 2022
A fintech company in the United States has pleaded guilty to laundering $160 million to Nigeria. US Department of Justice (DoJ) in a statement said Ping Express “transferred millions of dollars from the U.S. to Africa has admitted that it failed to adequately guard against money laundering.” U.S. Attorney for the Northern District of Texas […]
July 18, 2022
Fintech company being run by the Nigerians acknowledged it failed to maintain an effective anti-money laundering...
July 18, 2022
Two Nigerian executives of a Texas-based fintech, Ping Express, have been convicted of money laundering in the US in a matter involving US$167 million fraudulent transfers. Ping Express CEO Anslem Oshionebo and COO Opeyemi Ode, both recently received 27-month prison sentences, and the company’s business manager, Aleoghena Okhumale, received a 42-month…
July 18, 2022
The Founders of Texas-based fintech firm Ping Express US LLC, Anslem Oshionebo and Opeyemi Odeyale, have pleaded guilty for failing to combat money