KudiWave seeks clarification over N750m transfer from PalmPay account

KudiWave Technologies Limited has challenged a ₦750.37 cardinal debit from its relationship with Palmpay Limited, raising questions implicit the destination of the funds and the tribunal bid relied connected for the transaction.

The institution said the transaction, valued astatine ₦750,369,439.04, appeared connected its relationship connected July 15, 2026, with the statement “Judicial Adjustment,” but was carried retired without its authorisation oregon anterior notification.

KudiWave said Palmpay has attributed the transaction to an bid of the Federal High Court successful Lagos made connected June 29, 2026, successful proceedings involving the Inspector-General of Police.

However, the institution said the aforesaid bid was subsequently acceptable aside, vacated and discharged by the tribunal connected July 22 aft it challenged the circumstances nether which the bid was obtained.

The quality originated from an probe by the Police Special Fraud Unit, Ikoyi, which had earlier secured an ex-parte bid placing a 90-day Post-No-Debit regularisation connected accounts belonging to respective parties, including KudiWave.

KudiWave said it aboriginal became alert of abstracted proceedings successful which the constabulary sought an bid relating to funds lasting to its recognition with Palmpay.

The exertion came earlier Justice Ibrahim Ahmad Kala...