KudiWave Challenges ₦750m Debit from PalmPay Account
KudiWave Technologies Limited has contested a ₦750.37 million debit from its account with PalmPay Limited, which appeared on July 15, 2026, labeled as “Judicial Adjustment.” The company claims the transaction was unauthorized and lacked prior notification. PalmPay cited a Federal High Court order from June 29, 2026, involving the Inspector-General of Police as the basis for the debit.
KudiWave challenged this order, and on July 22, the Federal High Court ruled in its favor, vacating the June 29 order and removing restrictions on KudiWave's account. The court found issues with how the earlier order was served to KudiWave.
The company is now questioning the legitimacy of the July 15 transaction and other fund movements during the restriction period, noting that funds were transferred on July 11 and returned the same day before the debit on July 15.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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