Kudiwave Challenges Police Over ₦750m PalmPay Funds Dispute

Kudiwave Technologies Limited filed a petition with the Inspector-General of Police, Olatunji Disu, on September 14, 2026, concerning the alleged transfer and withholding of ₦750 million from its PalmPay account. The company raised concerns about the handling of the case by the Special Fraud Unit (SFU) and disputed allegations linking the funds to a round-tripping scheme involving several companies.

Kudiwave asserted that the ₦750 million was a legitimate payment from Nexall Technologies Limited for digital assets. The petition detailed that Kredilink founder Opeyemi Dairo was introduced to Master Solution Concept Limited on March 5, 2026, which sought settlement services.

Kudiwave conducted a Know-Your-Business verification before completing a test transaction. The company identified multiple inflows into Nexall, totaling ₦783,897,888, and questioned why the entire ₦750 million was treated as proceeds related to an alleged UBA matter.

Kudiwave called for a forensic investigation into the transactions.