The Chairman of Flutterwave, Tunde Lemo, has explained the reason he personally directed the suspension of the fintech firm’s payment platform.
The former Deputy Governor of the Central Bank of Nigeria and Chairman of the Federal Emergency Road Maintenance Agency offered the explanation in a report by Thisday.
Lemo said the decision was taken to prevent illicit flow of funds through the payment channel.
This explanation comes against the background of reports that the Federal Government, through the Central Bank of Nigeria, had summoned the fintech firm over the handling of funds for the #EndSARS protests and also the freezing of accounts of a Feminist Coalition group, a pro-#EndSARS women group.
Lemo said: “I was the one that instructed them to shut down their system yesterday when the bad guys were moving money through them.”
As at Tuesday, N16,706,635.9 had been donated into the account, according to a post on Flutterwave’s official Twitter handle.
This included donations in foreign currencies.