Kudiwave petitions Nigerian Police over N750m PalmPay fund dispute

Kudiwave Technologies Limited has petitioned Nigeria’s Inspector-General of Police, Olatunji Disu, demanding an investigation into the alleged withholding of approximately N750 million from its PalmPay account.

The company maintains that the funds resulted from a legitimate commercial transaction with Nexall Technologies Limited, where Kudiwave provided USDT in exchange for naira liquidity. Kudiwave disputes allegations of “round-tripping” involving several entities, including Kredilink Technologies Limited and Master Solution Concept Limited.

A central point of the petition is the movement of N750,369,439.04 from Kudiwave’s PalmPay account into a designated Police Recovery Account. Kudiwave is seeking clarification on this transfer and has requested a thorough examination of banking records to establish the precise origin and movement of the funds to prove the legality of the transactions.