‘Terrorism and money laundering’ Flutterwave takes hit as CBN freezes account over #EndSARS protests

The Central Bank of Nigeria (CBN) has temporarily blocked the account of Flutterwave, a fintech payment platform that is being used to receive donations for the ongoing protest against police brutality in the country.

Also, the account of Feminist Coalition, a pro-#EndSARS women group, was also frozen.

Recall that the online payment technology solution giant was one of the brands that leveraged the just concluded popular TV show, Big Brother Naija, to engage millions of viewers across the world.

It was gathered from a reliable source at the Lagos-based firm that the accounts were suspended over allegation of terrorism financing and money laundering.

“It is true they blocked our account. And they are charging us with terrorism,” a source at Flutterwave confirmed.

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 donation in foreign currencies.

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

Details later.

Rtn. Victor Ojelabi

Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.