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

Flutterwave Chairman had allegedly revealed that he ordered the closure of the firm’s payment platform.

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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.

READ: CBN knocks airline and shipping firms over non-compliance with form NXP

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.

READ: CBN set to punish exporters who refuse to repatriate export proceeds to Nigeria

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.

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READ: CBN Vs NESG: Waving the white flag for the benefit of Nigerians

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

READ: CBN injects fresh $51.8m into FX Markets

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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.

READ: Many Billionaires became richer by 27% during the COVID-19 pandemic – Swiss Bank UBS

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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Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

16 Comments

16 Comments

  1. Pat

    October 13, 2020 at 7:41 pm

    Hey i siad i dint want to hear fr you

  2. Taye

    October 13, 2020 at 8:58 pm

    This is absolutely false. Flutterwave chairman?? Lool. Absolute fake news.

  3. Dadani

    October 13, 2020 at 11:49 pm

    Cover story. We know better. Bad guys ko, Rambo ni.

  4. Rex

    October 14, 2020 at 1:04 am

    Having a federal government appointment, whatever he does will be to please his pay masters.

  5. Eddy

    October 14, 2020 at 6:27 am

    Absolute BS! Does 16M sound like money from “bad guys”? You made a privately owned service available for public use then you took it out just like that?

    Thank goodness Tech doesn’t revolve around one person, government or business.

    • jake

      October 14, 2020 at 9:10 am

      ….to please his paymasters. Men without conscience, always only after their belly even if the food is served by the devil.

  6. BJ

    October 14, 2020 at 8:51 am

    What a surprise! Tunde Lemo is a confirmed government “ pikin, and has always been the sort of ‘adult’ these young protesters are fighting against. Shame!!

  7. Henro

    October 14, 2020 at 9:10 am

    He’s from the same generation we’re protesting against. What do you expect? So unfortunate 😕

  8. Anonymous

    October 14, 2020 at 9:33 am

    Get enough facts right. Where did you find out that guy is the Chairman of flutterwave

  9. Bells

    October 14, 2020 at 11:54 am

    Lol who does this Dundee think he’s fooling….16m from bad guys 😂
    Just say your oga at the top ordered you to shutdown

  10. Anonymous

    October 14, 2020 at 11:58 am

    He is saying trash!! Instead him to join the protest he is standing against it, he is one of the bad guys in the government!!

  11. Anne

    October 14, 2020 at 12:07 pm

    The level of Evil perpetuated by the Nigerian Government remains unfathomable!

  12. Anonymous

    October 14, 2020 at 2:23 pm

    The world is round.

  13. Almighty

    October 14, 2020 at 6:35 pm

    Thank you for informing us flutterwave is cancelled. Your tech is wack sef so no need. You want us to believe a private sector money of just 16 mil only is your problem. What bad guy let me see the security code use to detect bad guys. Old fool

  14. Oma

    October 14, 2020 at 6:40 pm

    Enemy of progress.
    He tried to please his political Ogas.
    Las las other avenues of money transfer will be opened.
    “bad guys” ke
    How e take know them?
    When e gonshele we will have funding.
    Una fear neva stat 👌

  15. Engr. Jones

    October 15, 2020 at 10:01 am

    Please, it is Federal Roads Maintenance Agency and not Federal Emergency.

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Business

Inferno razes down SUBEB office in Ondo State

The SUBEB annex office in Akure, Ondo State has been razed down by a mysterious fire.

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Inferno raze down SUBEB office in Ondo state

The Ondo State Universal Basic Education Board (SUBEB) annex office in Oke Eda, Akure has been allegedly razed down by fire. The inferno affected the marketing office of the state government-owned television station, which also housed the building.

The cause of the inferno still remains unknown, as investigations are underway.

What you should know

Recently there have been reported cases of arson, lootings, and killings perpetrated by hoodlums. It is yet to be known if this incident is related to the hijacked #EndSARS protests.

(READ MORE: BRT owners, Primero says they lost N100 million to #ENDSARS violence)

What they are saying

Confirming the incident, an anonymous staff opined that the fire incident might have happened overnight. She also said that all buildings and files in the offices were affected by the fire.

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“All the buildings, because it was made of wood, are gone. It was completely burnt.

“We can’t lay our hands on anything. Everything in the office is gone,” she said.

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Business

Ebute Metta Railway station will be completed by December – Presidency

President Buhari’s aide has disclosed that Ebute Metta Railway Station is expected to be completed in the next two months.

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Ebute Metta Railway Station is 99% ready- Presidency

The Ebute Metta Railway Station, one of the stations on the Lagos-Ibadan railway route is expected to be completed by December 2020.

This is according to the Personal Assistant on New Media to the President of the Federal Republic of Nigeria, Bashir Ahmad, who disclosed this on Monday, through his verified Twitter handle.

Mr. Ahmad further revealed that the station and other stations on the route are expected to be completed by December.

“The Ebute Metta Railway station, one of the stations on the Lagos-Ibadan Railway route is nearly completed, the station and other stations on the route are expected to be completed by December,” he tweeted.

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What you should know

Nairametrics had earlier revealed that the $1.6 billion Lagos-Ibadan railway project will be completed on or before January 2021. This is according to a forecast by the honorable Minister of Transportation, Rotimi Amaechi.

(READ MORE:FG to complete Marine beach bridge repairs ahead of due date)

Why it matters

The near completion status of the Ebute Metta railway station is a big boost to achieving the completion of the Lagos-Ibadan railway project. The railway project will help in decongesting our roads and enable the roads to last longer.

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This is a big boost to the government’s drive to build strategic infrastructures that will drive economic growth and development.

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Business

7 stowaways, including Nigerians, arrested after suspected hijacking off Isle of Wight

Seven suspects were detained after a hijacking involving stowaways on a tanker off the Isle of Wight.

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7 stowaways, including Nigerians, arrested after suspected hijacking off Isle of Wight, ABCON shakes the table, Nigeria imported, Petrol import drops as importation of cooking gas increases by 21% 

7 stowaways, including Nigerians on board a Liberian registered oil tanker heading for England have been detained, after a suspected hijacking off the coast of Isle of Wight.

This was announced by the UK’s Ministry of Defence and several British News Media on Sunday evening.

READ: #EndSARS: UK ready to support genuine reform of police in Nigeria – British High Commissioner 

The Ministry of Defence said: “In response to a police request, the Defence Secretary and Home Secretary authorised Armed Forces personnel to board a ship in the English Channel to safeguard life and secure a ship that was subject to suspected hijacking.

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READ: #EndSARS: Coca-Cola donates N20 million to cover medical bills of victims

“Armed forces have gained control of the ship and seven individuals have been detained. Police investigations will now continue. Initial reports confirm the crew are safe and well.”

According to BBC, the ship, Nave Andromeda, was on its way to the Fawley oil refinery in Southampton from Lagos, Nigeria and left Nigeria on the 5th of October.

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READ: Bank CEOs ‘explain’ why they resigned from NESG

“According to a source close to the shipping company, the crew were aware of stowaways on board, but the stowaways became violent towards the crew while it was off the Isle of Wight.

“The crew retreated to the ship’s citadel, a secure area in which they can lock themselves, making it impossible for attackers to get in.

READ: #EndSARS: FG creates new N25 billion Youth Fund, to increase to N75 billion in 3 years

“This is standard procedure during a terrorist or pirate attack, but there is no suggestion the crew were doing more than protecting themselves from the stowaways. The crew contacted the coastguard, which then alerted police.

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“The men, from Nigeria and Liberia, waved metal poles and threw faeces and urine after being found hiding on the Grande Tema,” BBC said.

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The British Chairman of the Commons Defence Committee, Tobias Ellwood, said the stowaways taking over the ship, or forcing the ship not to be in command could have triggered a ” multi-agency alarm” which caused protocols to be put into action.

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