Stay updated with breaking news from Kandon Technologies. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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.
Assets Recovery Agency (ARA) of Kenya has formally withdrawn the case filed against African FinTech unicorn Flutterwave, allowing the firm to take back the $51 million (Sh6.6 billion) that has remained frozen since last year. Appearing before High Court judge Esther Maina, ARA asked the judge to mark the file withdrawn.…
ARA on Monday made a formal withdrawal of a case filed against Nigerian payments company Flutterwave, allowing the firm to take back the Sh6.6 billion.
The CEO and co-founder of Nigerian payments company Flutterwave, Olugbenga Agboola, flew into Kenya this week amid efforts to unfreeze his Sh6.6 billion and lift CBK.