Nigerian leading Fintech
firm, Flutterwave has had its financial impropriety charges brought against it
by the Kenyan authority seven months ago dropped.
A Kenyan High Court
document sighted by Bloomberg and Flutterwave’s lawyer, Robert Gitau confirms
that the charges which led to the freezing of Flutterwave bank accounts have
been lifted, paving way for the Lagos and San Francisco-based fintech startup
to spread its tentacles across the African continent providing cross-border
transaction services for multiple currencies for companies including Alibaba’s
Alipay, Uber Technology Inc.
The Court in July
restricted access to its Kenyan bank accounts holding more than $40 million,
amid suspicion of financial impropriety, an allegation the company vehemently
denied.
According to reports, Alice
Mate director in charge of the Assets Recovery Agency which filed the case didn’t
immediately respond to a request for comment sent after office hours on
Friday, while a representative of Flutterwave declined to comment when contacted.
