KudiWave seeks clarification over N750m transfer from PalmPay account
KudiWave Technologies Limited has challenged a ₦750.37 million debit from its account with Palmpay Limited, raising questions over the destination of the funds and the court order relied on for the transaction. The company said the transaction, valued at ₦750,369,439.04, appeared on its account on July 15, 2026, with the description “Judicial Adjustment,” but was […] KudiWave seeks clarification…
KudiWave Technologies Limited has challenged a ₦750.37 million debit made from its Palmpay account, without authorization or prior notice. The transaction, described as "Judicial Adjustment," was carried out on July 15, 2026. Palmpay attributes the transaction to a June 29, 2026 Federal High Court order in a proceeding involving the Inspector-General of Police.
However, KudiWave states that the order was later vacated after the court challenged the circumstances under which it was obtained. The dispute began with a Police Special Fraud Unit investigation that obtained an ex-parte order placing a 90-day Post-No-Debit restriction on KudiWave's accounts. KudiWave later filed an application seeking to set aside the restriction on July 3.
Palmpay and the police were served with KudiWave's application before it was heard on July 13. Despite the company's concerns about the transaction's correspondence with the court order, Palmpay maintains that it complied with a valid court order.
Written by urgent.news from Daily Post Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
