KudiWave Questions ₦750m PalmPay Debit, Seeks Details of Beneficiary

KudiWave Technologies says ₦750.37 million was debited from its PalmPay account on July 15, 2026, with the narration “Judicial Adjustment”, despite its claim that it neither authorised nor received prior notice of the transaction. The company says it had challenged an earlier Federal High Court order restricting its account. It alleges that the funds were first moved and returned on July 11 while the account was frozen, then transferred again on July 15 after its application to set aside the order had been argued in court. KudiWave says the court later vacated the June 29 order and directed that the account restriction be lifted. It is seeking clarification on the beneficiary, the instruction behind the transfer and why its records show the money was sent to an Access Bank business account rather than the police recovery account it understood was named in the order. The company also alleged that a ₦50 million request was made during efforts to lift the restriction. That allegation has not been independently verified or determined by a court. PalmPay has been contacted for a response.

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