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A Court in Nairobi, Kenya has frozen 45 bank accounts and 10 mobile money wallets belonging to a Nigerian-owned financial technology firm battling multiple money laundering allegations,
A Nairobi court in Kenya has frozen 45 bank accounts and 10 mobile money wallets belonging to a Nigerian-owned financial technology firm battling multiple money laundering allegations, as scorned individuals and companies begin to queue up for billions the firm has stashed away in local banks. High Court judge Alfred Mabeya last week issued orders freezing the accounts of Flutterwave Payments Technology after a group of 2,468 Nigerian nationals claimed the firm was used to defraud them of $12.04 million (Sh1.6 billion), Business Daily Africa reports.
Flutterwave has regained $50 million after the Kenyan government dropped charges it had for the African fintech unicorn.
High Court has frozen more funds in three bank accounts and 19 M-Pesa paybill belonging to Nigerian start-up Flutterwave linked to card fraud and money laundering.
The CBK relentlessly instructed other Kenyan financial institutions to cease conducting business with both Chipper Cash and Flutterwave.