Kudiwave Protests at Police HQ over N750m PalmPay Funds
Wale Igbintade Kudiwave Technologies Nigeria Limited yesterday protested at the Force Headquarters in Abuja over the alleged movement of N750.34 million from its PalmPay account, demanding an independent investigation by
Kudiwave Technologies Nigeria Limited staged a protest at the Force Headquarters in Abuja, alleging that N750.34 million was transferred from their PalmPay account without proper authorization. The company demanded an independent investigation by the Inspector-General of Police, Olatunji Disu. Protesters carried placards with slogans demanding an end to the alleged extortion of fintech companies and accusing the Police Special Fraud Unit (PSFU) and PalmPay of involvement.
Kudiwave's Company Secretary, Prince Oko Kalu, claimed that the company's account had been placed on a Post-No-Debit (PND) restriction since April, preventing access to funds. He alleged that a police officer demanded N50 million for lifting the restriction, which was then reduced to N5 million after being paid. However, PalmPay disputed the account, stating that the transfer was made in compliance with a Federal High Court order obtained on June 29.
The court subsequently set aside the order on July 22 but Kudiwave claimed that N750,339,399.99 was transferred from the account before the ruling.
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