Kenya’s Assets Recovery Agency said it sought and was granted orders freezing a total of $52.5m in 62 bank accounts belonging to Flutterwave and six other firms. The Kenyan authorities say there was no explanation or supporting documents to back Flutterwave’s transactions in 29 accounts that were spread across three banks. The accounts contained amounts in Kenyan shillings, US dollars, euros and pound sterling. Flutterwave is also accused of not having authorisation from Kenya’s Central Bank to provide payment services. “Further investigations established that there are reasonable grounds to believe that the funds are proceeds of crime obtained from illegitimate sources by the respondent which require to be preserved pending the filing and hearing of an intended forfeiture application,” the agency is quoted as having submitted in court. But in a response, Flutterwave said: “Claims of financial improprieties involving the company in Kenya are entirely false and are being circulated as part of a disinformation campaign. Flutterwave has been a target of deliberate false media reports and misrepresentations.” Flutterwave is a Nigerian company that allows African businesses and their customers to make online payments. Last year it became the fastest African-led company on the continent to have reached a billion-dollar valuation.