As disgruntled people and businesses start to line up for the billions the corporation has stowed away in local banks, a Nairobi court has frozen 45 bank accounts and 10 mobile money wallets belonging to a Nigerian-owned financial technology firm fighting various money laundering claims.
A group of 2,468 Nigerian nationals alleged the company was used to cheat them of $12.04 million (Sh1.6 billion) and High Court judge Alfred Mabeya last week ordered the freezing of Flutterwave Payments Technology’s accounts.
Six regional lenders who are in possession of the company’s funds are named as interested parties in the lawsuit filed by the Nigerian nationals against Flutterwave.
The organizations include Safaricom, where Flutterwave runs 10 paybill numbers, and five banks: United Bank of Africa, Access Bank, Guaranty Trust Bank, Equity Bank, and Ecobank.
It has been determined that the application is urgent… The request for directions will be made on 21.6.2023. In the interim, Justice Mabeya gave permission for the requests 2 through 9—which asked for the freezing of bank accounts, bank keys, and mobile money wallets—but only for a period of 14 days.
Mahmoud Gitau Jillo Advocates have been selected by Flutterwave as its legal counsel.
