RemX, which was investigated by the Assets Recovery Agency on fears of card fraud and money laundering, duped the bank’s compliance teams and Kenyan regulators.
The Nigerians said in a petition that they were swindled of billions of shillings through a sports betting platform that used Flutterwave to process the payments.
Kenya authorities have dropped lawsuits against three Nigerian companies, Avalon Offshore Logistics Limited, OIT Africa Limited, and RemX Capital Limited, after their bank accounts were frozen over suspicion of money laundering and crime.
The High Court has lifted a freeze order on Sh5.6 billion linked to two Nigerians suspected to enjoy the backing of a powerful Kenyan politician and two Kenyans.