• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Saturday, January 28, 2023
  • Login
No Result
View All Result
NEWSLETTER
Kumornews
  • Kumornews
  • Politics
  • Business & Economy
  • Entertainment
    Use The Money To Empower Yourself  Actress, Didi Ekanem Advises Ladies Planning To Do BBL In 2023

    Use The Money To Empower Yourself Actress, Didi Ekanem Advises Ladies Planning To Do BBL In 2023

    This One Follow For Love Too?  Netizens Reacts As Chat Between Actress Nkechi Blessing And Younger Lover Goes Viral (Screenshot)

    This One Follow For Love Too? Netizens Reacts As Chat Between Actress Nkechi Blessing And Younger Lover Goes Viral (Screenshot)

    Nigerian Lady Sends Her Elder Sister Packing For Advising Her To Stop Sleeping With Different Men (Video)

    Nigerian Lady Sends Her Elder Sister Packing For Advising Her To Stop Sleeping With Different Men (Video)

    If I Had To Choose All Over, Ill Still Choose You- Deyemi Okanlawan Says As He Celebrates 10 Years Anniversary With His Wife.

    If I Had To Choose All Over, Ill Still Choose You- Deyemi Okanlawan Says As He Celebrates 10 Years Anniversary With His Wife.

    Im Speaking My Truth. I Never Publicly Called Alexx Gay   Fancy Opens Up.

    Im Speaking My Truth. I Never Publicly Called Alexx Gay Fancy Opens Up.

    Lawyer Who Survived A One-Chance Robbery Shares Her Experience With Police Officers That Charged Her For Mobilization.

    Lawyer Who Survived A One-Chance Robbery Shares Her Experience With Police Officers That Charged Her For Mobilization.

    May All That Rita Dominic Whispered To Me Come True  Michelle Dede Gushes Over Heartwarming Moment. (Video)

    May All That Rita Dominic Whispered To Me Come True Michelle Dede Gushes Over Heartwarming Moment. (Video)

    Yall Are Not Even Rappers  Wizkid Replies Nigerian Rappers That Took Offence With His Opinion.

    Yall Are Not Even Rappers Wizkid Replies Nigerian Rappers That Took Offence With His Opinion.

    Man Arrested For Stealing N6.6m From His Friends Bank Account And Using It To Bet In Lagos

    Man Arrested For Stealing N6.6m From His Friends Bank Account And Using It To Bet In Lagos

  • Kumornews
  • Politics
  • Business & Economy
  • Entertainment
    Use The Money To Empower Yourself  Actress, Didi Ekanem Advises Ladies Planning To Do BBL In 2023

    Use The Money To Empower Yourself Actress, Didi Ekanem Advises Ladies Planning To Do BBL In 2023

    This One Follow For Love Too?  Netizens Reacts As Chat Between Actress Nkechi Blessing And Younger Lover Goes Viral (Screenshot)

    This One Follow For Love Too? Netizens Reacts As Chat Between Actress Nkechi Blessing And Younger Lover Goes Viral (Screenshot)

    Nigerian Lady Sends Her Elder Sister Packing For Advising Her To Stop Sleeping With Different Men (Video)

    Nigerian Lady Sends Her Elder Sister Packing For Advising Her To Stop Sleeping With Different Men (Video)

    If I Had To Choose All Over, Ill Still Choose You- Deyemi Okanlawan Says As He Celebrates 10 Years Anniversary With His Wife.

    If I Had To Choose All Over, Ill Still Choose You- Deyemi Okanlawan Says As He Celebrates 10 Years Anniversary With His Wife.

    Im Speaking My Truth. I Never Publicly Called Alexx Gay   Fancy Opens Up.

    Im Speaking My Truth. I Never Publicly Called Alexx Gay Fancy Opens Up.

    Lawyer Who Survived A One-Chance Robbery Shares Her Experience With Police Officers That Charged Her For Mobilization.

    Lawyer Who Survived A One-Chance Robbery Shares Her Experience With Police Officers That Charged Her For Mobilization.

    May All That Rita Dominic Whispered To Me Come True  Michelle Dede Gushes Over Heartwarming Moment. (Video)

    May All That Rita Dominic Whispered To Me Come True Michelle Dede Gushes Over Heartwarming Moment. (Video)

    Yall Are Not Even Rappers  Wizkid Replies Nigerian Rappers That Took Offence With His Opinion.

    Yall Are Not Even Rappers Wizkid Replies Nigerian Rappers That Took Offence With His Opinion.

    Man Arrested For Stealing N6.6m From His Friends Bank Account And Using It To Bet In Lagos

    Man Arrested For Stealing N6.6m From His Friends Bank Account And Using It To Bet In Lagos

No Result
View All Result
Kumornews
No Result
View All Result
Home Business & Economy

Flutterwave In Money Laundering Mess As Court Freezes 62 Bank Accounts

by kumornews
July 7, 2022
Reading Time: 3 mins read

Flutterwave In Money Laundering Mess As Court Freezes 62 Bank Accounts

Nigerian fintech firm, Flutterwave and four folks have seen bigger than Sh6.2 billion of their money unfold in 62 monetary institution accounts frozen by a Kenyan Excessive Court docket.

Enterprise Every day Africa experiences that the Kenyan court iced over the accounts following suspicion that the funds are proceeds of card fraud and money laundering.

The frozen monetary institution accounts belonged to Flutterwave Price Technology Restricted, Boxtrip Roam and Excursions Restricted, Bagtrip Travels Restricted, Elivalat Fintech Restricted, Adguru Technology, Hupesi Choices, Cruz Bound Auto Restricted and one Simon Karanja Ngige.

The Kenyan Court docket granted the yell to freeze the accounts after the Property Restoration Company (ARA) applied to dam the transfer or withdrawal of the money, pending the filing of a petition to have it forfeited to the govt..

ARA disclosed that their investigations revealed the money used to be wired within the guise of funds for items and products and companies.

“That the first Respondent’s (Flutterwave) monetary institution accounts bought billions in a suspected draw of cash laundering and the identical deposited in varied monetary institution accounts in an strive to camouflage or hide the nature, supply, space, disposition or paddle of the acknowledged funds,” ARA acknowledged.

READ ALSO:  CBN Hikes Monetary Interest Rate To 14%

“The transactions were performed the utilization of cards issued by the identical monetary institution, on the identical point, on the identical day, elevating suspicion of card fraud.”

In step with court paperwork, the company acknowledged Boxtrip Roam and Excursions, registered by Enyioma Olufemi Madubuike, a Nigerian, bought Sh467.1 million bucks from Flutterwave on April 27 and April 28.

ARA acknowledged there used to be no explanation or supporting paperwork equipped to toughen the transactions and, therefore, it believes the accounts were aged as conduits for difficult illicit cash.

“Further investigations established that there are sensible grounds to imagine that the funds are proceeds of crime bought from illegitimate sources by the respondent which require to be preserved pending the filing and listening to of an supposed forfeiture utility,” the company added.

Flutterwave kicks, denies money laundering

Reacting in a observation on Thursday, Flutterwave described the allegations of cash laundering as “entirely false”.

“By our monetary institution companions, we receive and pay on behalf of merchants and company entities,” the observation reads.

READ ALSO:  FBN Insurance Appoints Tunde Mimiko As Ojumah Retires

“Within the technique, we abolish our fees thru a transaction fee, recordsdata of which may possibly be accessible and may be verified. As a business, we retain corporate funds to toughen our operations and provide products and companies to all our potentialities.

“By facilitating funds for the supreme organizations on this planet and day-after-day companies, we route of critically trim volumes of cash and contribute to rising the economic system in Kenya, and the leisure of Africa.

“We are a monetary abilities firm that maintains the perfect regulatory requirements in our operations.

“Our Anti-money laundering (AML) practices and operations are time and again audited by one among the fine 4 companies. We remain proactive in our engagements with regulatory bodies to proceed to dwell compliant.

“Flutterwave has a accountability to construct determined the integrity of the ecosystem, and we pledge our commitment to proceed to work with all stakeholders to uphold this.

“We are working to determine the motive on the support of the publication and have the suggestions straightened.”

Tags: BusinessFlutterwaveHeadlinesKenyaMoney LaunderingNigeria news
Previous Post

Court Sacks Sherrif Oborevwori As Delta PDP Governorship Candidate

Next Post

Anambra Governor, Charles Soludo Reveals Why Pastor Odumeje’s Church Was Demolished

Related Posts

Reps Begin Investigation Into NNPC’s 32-Year Joint Ventures Contract

Reps Begin Investigation Into NNPC’s 32-Year Joint Ventures Contract

by kumornews
September 21, 2022
0

The Joint Ventures and Creation Sharing Contracts the Nigerian Countrywide Petroleum Corporation (NNPC) entered in the previous 32 many years...

High Energy Costs Threatening Nigeria’s Manufacturing Sector

High Energy Costs Threatening Nigeria’s Manufacturing Sector

by kumornews
September 21, 2022
0

Suppliers in Nigeria have expressed worries in excess of the mounting charge of power which is directly affecting production capacity....

Airlines To Lose Aircraft Over Struggle To Raise Forex

Airlines To Lose Aircraft Over Struggle To Raise Forex

by kumornews
September 21, 2022
0

Domestic airlines are established to get rid of some of their plane over the battle to raise more than enough international...

Aboki Rate: Latest US Dollar To Naira Black Market Rates Today, 21st September 2022

Aboki Rate: Latest US Dollar To Naira Black Market Rates Today, 21st September 2022

by kumornews
September 21, 2022
0

What is the Dollar to Naira Trade rate at the official CBN level, aboki fx, and the black marketplace? How...

Dangote, MTN, Globacom Emerge Among Top 50 Brands

Dangote, MTN, Globacom Emerge Among Top 50 Brands

by kumornews
September 20, 2022
0

An once-a-year prime models analysis report carried out by 2022 Best 50 Brand names Nigeria have mentioned Dangote Industries, MTN...

CBN Is Reluctant – Experts Express Worries As Nigeria’s Inflation Rate Surges

CBN Is Reluctant – Experts Express Worries As Nigeria’s Inflation Rate Surges

by kumornews
September 20, 2022
0

Nigerian economists and financial gurus have predicted there will be a rise in curiosity fees amid the current upsurge in...

Load More
Next Post
Anambra Governor, Charles Soludo Reveals Why Pastor Odumeje’s Church Was Demolished

Anambra Governor, Charles Soludo Reveals Why Pastor Odumeje’s Church Was Demolished

“I Am Going To Come Out Of This Strong” – Rapper Eedris Abdulkareem Speaks From His Hospital Bed (Video)

“I Am Going To Come Out Of This Strong” – Rapper Eedris Abdulkareem Speaks From His Hospital Bed (Video)

“Abroad Makes Your Skin Pop” – Nigerian Man Declares After Achieving His ‘Japa’ Goal From The Country

“Abroad Makes Your Skin Pop” – Nigerian Man Declares After Achieving His ‘Japa’ Goal From The Country

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

Recommended

Vanessa Hudgens And Sister Stella Sparkle In Glittering Dresses At UNICEF Gala

Vanessa Hudgens And Sister Stella Sparkle In Glittering Dresses At UNICEF Gala

6 months ago
“How I Survived Depression When My Husband, Yul Edochie Took A Second Wife” – May Edochie Bares It All || See Video

“How I Survived Depression When My Husband, Yul Edochie Took A Second Wife” – May Edochie Bares It All || See Video

6 months ago

Most Viewed

    Follow Our Social

    Facebook Twitter Instagram

    About Us

    kumornews.co is an online news channel that has different categories on; entertainment news, politics, national, sports, religion, international, educational & business.

    • About Us
    • Advertise
    • Contact Us
    • Privacy Policy

    © 2018 - 2022 Designed by Kumorgroup

    No Result
    View All Result
    • Home
    • Entertainment
    • Politics
    • Business & Economy
    • National
    • Tech
    • Celebrity
    • International
    • Education
    • Sports
    • Religion
    • News Extra

    © 2018 - 2022 Designed by Kumorgroup

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    en English
    af Afrikaanssq Albanianam Amharicar Arabichy Armenianaz Azerbaijanieu Basquebe Belarusianbn Bengalibs Bosnianbg Bulgarianca Catalanceb Cebuanony Chichewazh-CN Chinese (Simplified)zh-TW Chinese (Traditional)co Corsicanhr Croatiancs Czechda Danishnl Dutchen Englisheo Esperantoet Estoniantl Filipinofi Finnishfr Frenchfy Frisiangl Galicianka Georgiande Germanel Greekgu Gujaratiht Haitian Creoleha Hausahaw Hawaiianiw Hebrewhi Hindihmn Hmonghu Hungarianis Icelandicig Igboid Indonesianga Irishit Italianja Japanesejw Javanesekn Kannadakk Kazakhkm Khmerko Koreanku Kurdish (Kurmanji)ky Kyrgyzlo Laola Latinlv Latvianlt Lithuanianlb Luxembourgishmk Macedonianmg Malagasyms Malayml Malayalammt Maltesemi Maorimr Marathimn Mongolianmy Myanmar (Burmese)ne Nepalino Norwegianps Pashtofa Persianpl Polishpt Portuguesepa Punjabiro Romanianru Russiansm Samoangd Scottish Gaelicsr Serbianst Sesothosn Shonasd Sindhisi Sinhalask Slovaksl Slovenianso Somalies Spanishsu Sudanesesw Swahilisv Swedishtg Tajikta Tamilte Teluguth Thaitr Turkishuk Ukrainianur Urduuz Uzbekvi Vietnamesecy Welshxh Xhosayi Yiddishyo Yorubazu Zulu