Flutterwave—Bank of Ghana suspended Flutterwave's remittance partnership over unauthorized activity for unlicensed money transfer operators
The Bank of Ghana suspended Flutterwave Inc.'s remittance partnership for one month effective September 18, 2025, after finding the company conducted unauthorized inward remittance activity on behalf of multiple Money Transfer Operators (including Top Connect, Send App, Taptap Send, Remit Choice, and Afriex) through its settlement bank UBA Ghana, in breach of the central bank's 2023 remittance guidelines. Cellulant Ghana was sanctioned identically for the same conduct; a third PSP, Halges Financial Technologies, received a more severe indefinite suspension.
Scoring Impact
| Topic | Direction | Relevance | Contribution |
|---|---|---|---|
| Consumer Protection | -against | secondary | -0.50 |
| Corporate Governance | -against | primary | -1.00 |
| Overall incident score = | -0.221 | ||
Score = avg(topic contributions) × significance (medium ×1) × confidence (0.59)× agency (negligent ×0.5)
Evidence (1 signal)
Bank of Ghana official press release suspending Flutterwave's remittance partnerships
The Bank of Ghana's official press release announced a one-month suspension, effective September 18, 2025, of Flutterwave Inc.'s remittance partnerships for conducting unauthorized inward remittance activity on behalf of unlicensed Money Transfer Operators, in breach of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023.