Under pressure PalmPay reacts releases threat and arrest warnings to media outlets over KudiWave reports
A new phase has emerged in the dispute involving PalmPay Limited and KudiWave Technologies Limited, with media organisations that reported developments in the matter said to have received messages from PalmPay warning of possible arrest and demanding the removal of published stories. The warnings followed media coverage of two major developments in the dispute. The first concerned the movement of N750,369,439.04 from KudiWave’s account by PalmPay. The second involved PalmPay’s reported position that KudiWave’s address and the ownership of the account were unknown, a claim KudiWave later challenged with documents and evidence of previous dealings between both companies. One of the major pieces of evidence presented by KudiWave was a PalmPay correspondence dated July 28, which expressly identified KudiWave Technologies Limited and Account No. 8889232516. In the same letter, PalmPay asked the Nigeria Police Force to transfer N750,369,439.04, which it described as standing in a design...