Nigeria: Plaude Counters Claims Over Disputed $13.07m Currency Deal, Says $8.95m Was Settled, $1bn Processed in 2 Years

What the report says

Plaude Technologies Limited has pushed back against reporting on a disputed foreign-currency transaction involving Zacuten Technologies Limited and Crossbeam Financial Services Limited, saying the accounts in circulation are incomplete and misleading. In the article published by Vanguard and distributed by AllAfrica, the company said documentary records show it had already performed much of its side of a $13.07 million deal before banking disruptions interfered with full settlement.

According to the report, the transaction was carried out through currency swap agreements between March 4 and March 10, 2026, with settlement due by March 12 into offshore USD/USDC accounts. Plaude said about $8.95 million, or roughly 68% of the agreed amount, had been transferred on time. It acknowledged that a balance remains unpaid, but rejected suggestions that the shortfall by itself proves fraud or an intent not to pay.

Plaude attributed the breakdown to banking constraints including enhanced due diligence reviews, delays, corridor restrictions and account closures. The company also questioned the timing of later police-related actions and said it had not been served with some of the documents referenced in earlier reports. The dispute has also prompted broader attention to Plaude’s regulatory standing and operations, including its claims that it is licensed or registered in several jurisdictions and has processed more than $1 billion in payouts since its launch in 2023.

The matter remains unresolved and appears to be moving through both commercial and legal channels. Plaude said it continues to seek resolution of the outstanding amount while reserving its legal rights over the coverage.