A Kenyan court has frozen bank accounts run by a Nigerian online payments' company amid allegations they are linked to fraud and money-laundering.
Kenya’s Assets Recovery Agency (ARA) said it sought and was granted orders freezing a total of 6.2 billion shillings ($52.5m; £43.9m) in 62 bank accounts belonging to Flutterwave and six other firms.
Flutterwave is a Nigerian company that allows African businesses and their customers to make online payments.
Last year it became the fastest African-led company in Africa to have reached a billion-dollar valuation.
The Kenyan authorities say there was no explanation or supporting documents to support Flutterwave's transactions in 29 accounts that were spread across three banks.
The accounts contained amounts in Kenyan shillings, US dollars, euros and pound sterling.
Flutterwave is also accused of not having authorisation from Kenya's Central Bank to provide payment services.
“Further investigations established that there are reasonable grounds to believe that the funds are proceeds of crime obtained from illegitimate sources by the respondent which require to be preserved pending the filing and hearing of an intended forfeiture application,” the agency is quoted as having submitted in court.
Flutterwave’s chief executive Gbenga Agboola has reportedly denied the allegations, telling the Nigerian publication Peoples Gazette that the charges could be politically motivated.
“Why are Nigerian companies in Kenya being targeted by Kenya ARA? This is happening near their election time,” he is quoted as saying.
None of the banks have commented on the matter.
Latest Stories
-
Perez Musik celebrates marriage with breathtaking photos
6 mins -
I am not ready to sign any artiste to my record label – Kuami Eugene
33 mins -
Gov’t spokesperson on governance & security calls for probe into ballot paper errors
36 mins -
Free dialysis treatment to be available in 40 facilities from December 1 – NHIA CEO
50 mins -
NHIA will need GHC57 million annually to fund free dialysis treatment – NHIA CEO
56 mins -
MELPWU signs first-ever Collective Agreement with government
1 hour -
I’ve not been evicted from my home – Tema Central MP refutes ‘unfounded’ reports
1 hour -
After Free SHS, what next? – Alan quizzes and pledges review to empower graduates
2 hours -
Wontumi FM’s Oheneba Asiedu granted bail
2 hours -
Alan promises to amend the Constitution to limit presidential powers
2 hours -
Ghana to face liquidity pressures in 2025, 2026 despite restructuring most of its debt – Fitch
2 hours -
NPP’s record of delivering on promises is unmatched – Bawumia
2 hours -
Mahama: It’s time to dismiss the incompetent NPP government
3 hours -
‘It’s extremely embarrassing’ – Ernest Thompson on Ghana’s AFCON failure
3 hours -
Today’s front pages: Monday, November 25, 2024
3 hours