Nigerians who invested in 86FB, have begun demanding for their funds to be released even as the alternative investment platform continues to blame fintech company, Flutterwave, for its inability to run efficiently and pay up its investors.
This is on the background of the company pointing accusing fingers at Flutterwave for its woes, prompting a message that was displayed on its website claiming that Flutterwave has maliciously frozen its funds, and intends to extort 86FB by collaborating with the local police.
Since last week’s allegation against Flutterwave, the platform has remained silent as efforts to reach the company were not successful, especially after Flutterwave revealed in a statement that merchants on behalf of 86FB, were passing off transactions not approved by Flutterwave.
What Flutterwave is saying about 86FB’s funds
Flutterwave has however dismissed the claims made by 86FB stating that it is not in possession of its customers’ funds. Flutterwave claims merchants processing transactions for 86FD breached its terms of service, as well as its regulatory requirements by processing transactions for 86FB different from the service the gambling and investment site registered to operate on Flutterwave’s payment channel.
- The company said, “We are aware of reports by a platform called 86FB/86Z claiming that Flutterwave has been withholding their funds. Flutterwave is not a bank; we are a payment processor and do not hold customers’ funds including those belonging to customers of 86FB/86Z.
- “A recent exercise revealed that some merchants were passing transactions on behalf of 86FB/86Z—a business not registered or approved by Flutterwave.
- “Where transactions are done contrary to the registered nature of a business, we are required to take appropriate actions up to and including termination.
- “For example, if a merchant is registered to sell tomatoes and without approvals, starts selling cars, the merchant is in breach of our terms of service and regulatory requirements.
- “During our investigation, we identified direct merchants of Flutterwave who were processing transactions for 86FB/86Z without our approval or authorization to do so on the Flutterwave platform. As a result, we notified the merchants to cease processing and suspended their use of the Flutterwave platform.”
- The payment platform said that following the suspension of 86FB accounts, all funds due to the merchants were settled. It, therefore, advised 86FB investors and users to approach the investment company for payment issues.
- “All transactions passed through the Flutterwave payment platform are treated and settled in line with regulatory requirements.
- “We also settled all funds due to these merchants. No funds currently due to the merchants are with Flutterwave,” it added.
This however has not stopped investors from demanding a refund of their investment from 86FB, as some have made it clear that their business is not with Flutterwave, but with the investment platform. Others have gone on to seek inquiries from different quarters on the next line of action to take.
86FB did not respond to messages sent by Nairametrics asking how customers can get their funds back.
How can I get my fund back
Why is flutterwave holding our funds it doesn’t belong to the Nigeria Government it is our investment the Government never care for citizens and we divided to invest in football company please flutterwave refund us our money now
Why is flutterwave holding our money it doesn’t belong to the Nigeria Government our leaders never care about we the citizens and we decide to invest our money in football company please flutterwave refund us our now
I don’t believe flutterwave at all I trust our 9ja ppl and what they are capable of, how can a company that has been existing for years now crash in Nigeria? Due to inability to pay back funds haba make una dey use una brain joor
Please, what can I do to get my fund back?I don’t really know why this our country Nigeria is like this ooooh, the rich don’t want to see the poor mass to see light,why?.
Let them scam us if they want to, since when do you guys start caring?
Quite disturbing that we allow dubious people use a platform that has integrity sleeve citizens only to sever relationship when the deed is done. Many are about to lose hard earned funds simply because regulatory bodies pretend not to know and leave investors at the mercy of swindlers. Internet is a modern platform of making legitimate incomes worldwide but in our country it appears an avenue of a rip-off.
Example abounds i.e.MML,VIP ,Liquidity mining and now FB 86. Why not prevent citizens from falling victims instead of crying foul after using your platform safe net under false pretences. Do not allow any dubious organisation soil your good name and integrity. Kindly assist to pressurize them make immediate refunds to affected people’s. Thank you.
“sleece citizens fund” not sleeve citizens fund.
“Fleece citizens fund”, not sleece citizens fund.
I know for sure, flutterwave & 86fb will not allow this issue to spoil there reputation.Please do the needful so that innocent Nigrtian can get their hard earned money back.Some are dying of chock of loosing fortune,receiving treatment at hospitals
You guys should just forget about any money or fund we have being scam by this platform so call 86fb
Hi admin, thank you for this. Please i cant login to my account. Could this be the problem? https://www.dailybinaryhub.com/86fb-login/