The Central Bank Of Kenya has warned Kenyans against using the fintech payments platforms ,flutterwave and chippercash. According to CBK the two companies are not licensed to operate in Kenya. The governor of the CBK Patrick Njoroge said that the two companies operations remain suspended in Kenya.

Back on July date 7 , the Kenya High court froze more than $50million in 62 bank accounts belonging to flutterwave and four Kenyans. The money was suspected to be proceeds of fraud and money laundering. The Kenya’s Assets Recovery Agency(ARA) asked the court to stop the money from deposited or withdrawn out until the governoment filed a petition to get the money back.

According to the court, between November 2020 and 2022, flutter wave deposited Ksh12.4 billion into a single account at Equity Bank.

Denis Riush

I am a digital marketer and content creator at allies best. I work on social media marketing and search engine optimization.

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