Home News BUSINESSUpdate-#EndSARS: Flutterwave Chairman says he ordered closure of firm’s payment platform

BUSINESSUpdate-#EndSARS: Flutterwave Chairman says he ordered closure of firm’s payment platform

The Chairman of Flutterwave, Mr. Tunde Lemo, has allegedly revealed that he personally directed the suspension of the fintech firm’s payment platform.

According to a report from Thisday, Tunde Lemo, a former Deputy Governor of the Central Bank of Nigeria (CBN) and current Chairman of Federal Emergency Road Maintenance Agency (FERMA), said the decision was taken to prevent the illicit flow of funds through the payment channel.

This explanation is coming against the background of reports that the Federal Government, through the Central Bank of Nigeria (CBN) 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.

He said, “I was the one that instructed them to shut down their system yesterday when the bad guys were moving money through them.”

As of Tuesday, a total of N16,706,635.9 had been donated into the account, according to a post on Flutterwaves’ official Twitter handle. This includes donations in foreign currencies.

The organizers of the protest have been using donations to fund medical supplies, food, drinks, legal aids, and others to sustain the protest.

However, in a reaction, Flutterwave said that its Chairman never made such statement and their payment platform is not shutdown but is up and running efficiently.

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