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CBK orders banks to close Flutterwave, Chipper Cash accounts
The Nigerians said in a petition that they were swindled of billions of shillings through a sports betting platform that used Flutterwave to process the payments. PHOTO | POOL
The Central Bank of Kenya (CBK) has directed banks and microfinance institutions to seize dealing with payments technology firms Flutterwave and Chipper Cash.
In a letter to chief executives, the regulator has directed banks to end links with the fast-growing payments unicorns which could mean closing all accounts and freezing the cash. The lenders are to report back to CBK within seven days.
