NAIROBI, Kenya, Nov 11 – Nigerian fintech company Flutterwave has been cleared of any wrongdoings after the High Court allowed the Assets Recovery Agency (ARA) to drop a case against the payment firm.
ARA had moved to court accusing the tech of involvement in criminal activities, including money laundering and fraud.
Removal or legal uncertainties, it said, will allow it to focus on local opportunities.
“The High Court’s decision with this case behind us, Flutterwave will focus on acquiring its license in Kenya, expanding its operations, and further supporting local businesses and economic growth,” Flutterwave said yesterday.
”Flutterwave welcomes the recent court ruling that vindicates our company from any wrongdoing,” it added.
“The court’s decision affirms our steadfast commitment to ethical business practices and upholding the s4 standards of integrity.”
With the settling of the case, the agency will release $3 million it had frozen for the corporation.
For the foreseeable future, it said its goal is to deliver quality service to Kenyans
It is also working on acquiring a payment service provider and remittances license from the Central Bank of Kenya, which was revoked last year.
