TRIXX NG reports that a staff of fintech company, Palmpay has been arrested for illegally moving a merchant’s N2.6 Million into an unknown account.

The staff, Seja Matthew Oluwatimilehin was said to have gotten direct access to the merchant’s account during an onboarding process and due to this access, he moved the funds bit by bit from January till March 2024.
When the merchant noticed the unusual transaction in his account, he approached Palmpay’s office in Opebi to complain and it was confirmed that the transaction took place without the merchant’s notice.

Following investigation by the merchant’s team, it was disclosed that the company’s staff, Seja Matthew was behind the criminal act.

‘’The merchant team then carried out their investigation on that same Day, Thursday, 21st March 2024 to track how the fund was moved and who manages the merchant’s account. Their investigation revealed that Seja Matthew Oluwatimilehin had illegally moved these funds from the merchant’s account into an unknown account.’’

‘’Seja Matthew was called upon immediately to confirm why he moved these funds in which he accepted the allegations and confirmed he did so. He was therefore informed to report to the office immediately, however, he was unable to show up on the 21st of March, 2024. On Friday 22nd March 2024, Seja Matthew showed up for further investigations. An internal police officer was summoned, who later took over the case for further investigations and actions. Seja Matthew, however, claimed that he has returned the sum of #500,000 (Five Hundred Thousand Naira) to the merchant’s account, which is yet to be confirmed. The case was then transferred to The Nigerian Police Area F, Ikeja, located at Ikeja GRA, Lagos State.’’

Furthermore, during interrorgation, the company’s staff was unable to disclose where he moved the funds to and the reason behind his action.

Bad guy Seja

Mk dem no touch my money

From unknown gun men to unknown account

Una well done ooh

PalmPay has also responded to it. See their response below according to the same TRIXX Ng


Regarding The Merchant Account Incident

PalmPay is aware of the recent unfortunate incident regarding a merchant account.
We want to assure our valued users and the public that this incident is an isolated case and our customers’ funds are safe.

The appropriate law enforcement agency is already handling the case and we will work closely with them to support the investigation.

We also want to remind users not to disclose personal identification codes (PINs), one-time passwords (OTPs), or any related sensitive information to anyone and to regularly update their passwords.

These pieces of information are crucial safeguards for your accounts, and anyone obtaining them could potentially harm your account.

Our customer service and fraud team are available 24/7 to respond to questions or reports of suspicious activities and can be reached via support@palmpay.com  or +234 2018886888

There are always bad eggs in every company or organisation and Financial ones tend to have the highest number of bad eggs.