Central Bank of Kenya (CBK) to financial institutions: "immediately cease and desist from dealing with Flutterwave and Chipper Cash. You are thereafter required, within seven days of the date of the letter to confirm to CBK your compliance with the directive."

https://twitter.com/IAtalkspace/status/1553032246948495360?t=FK2Osp5OUgluj7XvWlcEWg&s=08


CENTRAL BANK OF KENYA

July 29, 2022

TO ALL CHIEF EXECUTIVE OFFICERS OF COMMERCIAL BANKS, MICROFINANCE BANKS AND MORTGAGE FINANCE COMPANIES

FLUTTERWAVE PAYMENTS TECHNOLOGY LTD AND CHIPPER TECHNOLOGIES KENYA LTD

It has come to the attention of the Central Bank of Kenya (CBK) that Flutterwave Payments Technology Limited (Flutterwave) and Chipper Technologies Kenya Limited (Chipper) have been engaging in Money Remittance and Payment Services without licensing and authorisation by CBK.

Money Remittance Services in Kenya are regulated pursuant to the Central Bank of Kenya Act and the Money Remittance Regulations, 2013. Further, Payment Services in Kenya are regulated pursuant to the National Payment System Act and the National Payment System Regulations, 2014.

You are therefore directed to immediately cease and desist from dealing with Flutterwave and Chipper.

You are thereafter required, within seven (7) days of the date of the letter to confirm to CBK your compliance with the directive.

Yours faithfully,

MATU MUGO DEPUTY DIRECTOR, BANK SUPERVISION

Abide to the rules and regulations of where you are and know peace, simple arithmetic
FTC, Be OBIdient & Useful always
.
.
.
.
.
.. NEW SEASON 2021/2022 high quality jerseys for clubs and country now available
#StrictlyOriginal #EPL #LaLiga #SerieA #Bundesliga #NationalTeams
Top notch branding also available, discount on bulk order
Kindly check my signature for more samples

When yahoo boy wear suit and tie come enter office, this is almost what you get.

Cutting corners

Why always Nigerian fintechs?

Could it be David investigation having effect on those two criminal firms used to launder money of evil proceed .


For any criminal out there making life difficult for fellow humans because of your greed , may you never have peace untill karma finds you including those supporting this evil government of ApC and tinubu

These guys should leave our Flutterwave alone... If they're not licensed then force them to get licensed

Africans always acting like the Africans that they are

Kenya is trying to drive their own fintech company to their citizens.

David Hun. If you put deyin na you know.

No wonder to send Naira as KES no dey go untop Chipper again.....


I believe dey can be forced to get a License....


Unless dey don't want foreign fintech to operate in dere country again make dem confess mak we know....

Fact

Na so this unlicensed flutterwave pack the money of our people go via 86fb.

Kenyans are worse than Nigerians. A country of about 40 million people only with the magnitude of corruption as strong as Nigeria is something to consider. They hate Nigerians. They have this inferiority complex and do everything to level up to Nigerians or subjugate Nigerians.

Kenyans are opportunists. Nigerians know little about their insidious lifestyle. They have no human feeling or conscience and they are overtly vindictive.

The women love Nigerians but for nefarious reasons. Just to use you to elevate themselves. Black maga. They have children wee too young (13, 14, 15 etc), and they have less value for marriage. A wife can decide to move her bag and leave your home without a notice.

Kenyans suffer from tribalism as Nigerians do but to an even larger scale. It is a rat race in Kenya. The mindset is rotten and they have less importance for morality.

The men are lazy and cowardly with a sense of entitlement. They lack basic Logically intelligence and lack innovative concepts. They are more about knowing WHERE you are from than taking a bath.

I invested in the country and everything went with the wind. Not a good place for NIGERIAN investors. Some Nigerians find a way, but each one to his grainfield.

Some Nigerian crooks send their offsprings there for education and loot stashing. Flutterwave should have read the basic lines. Business investors should conduct their research before cash flow.

Wuruwuru to the answer........

No b this people chop our money for 86FB?

Good. I've always been wary of that flutterwave.

They will settle

I smell jealousy

i see even if i no see

This is a very huge problem on Nigeria fintech. Maybe Kenya want to support their own

Long Overdue

Edo

Carried the anyhowness of Nigeria to Kenya.

Edo no be Lagos
Osun no be Lagos
Nigeria no be Lagos

Kenya's government is far better than the Nigerian government..

PS. Those in Abuja should be very careful to avoid being victims of the bandits/Fulani herdsmen/boko haram ISWAP insurgency..

The military can't help you when it happens..

Better be safe than sorry...

I thought they said David Hudeyin was a joker, remember the same flutterwave was indicted for money laundering and their card license were recently withdrawn...

Nawa o

not cool

Many Nigerian yahoo boys based in Kenya used flutterwave intensively to push funds on the steady. Using phantom e-commerce sites to be shifting funds around.

What happens to all the seized funds ??