PalmPay Denies Unlawful ₦750m Debit from Kudiwave

PalmPay Limited has denied allegations of unlawfully debiting ₦750,369,439.04 from Kudiwave Technologies Limited's account on July 15, 2026. Kudiwave, represented by solicitors Tony Eseigbe & Co., claimed the transaction was unauthorized and occurred despite a Post-No-Debit restriction placed on the account following a prior court order in April 2026.

Kudiwave's lawyers alleged that the Federal High Court lifted this restriction before the transfer, which was noted as “Judicial Adjustment.” They raised concerns about possible collusion involving PalmPay and Special Fraud Unit officers and demanded an investigation. In response, PalmPay confirmed in a letter dated July 22, 2026, that it lifted the restriction based on a ruling by Justice Ibrahim Kala on June 29, 2026, in Suit No.

FHC/L/CS/795/2026. PalmPay's legal counsel, Caleb Aluya, stated that the transfer was in compliance with a separate directive, asserting that the lifting of the restriction did not invalidate the transfer order.