Lagos · 17 August 2026
Plaude Technologies is aware of a recent article and related social media posts concerning the company and its Founder. The reporting contains material inaccuracies, and we are setting out the facts.
Plaude is a regulated cross-border payments and trade finance company serving businesses across more than 50 countries, enabling companies to move money and finance trade across African and North American corridors. Since inception in 2023, Plaude has successfully settled over USD 1 billion in payouts. The company is registered as a Money Services Business with FinCEN in the United States, holds FINTRAC registration and a Payment Service Provider licence from the Bank of Canada, and its Nigerian entity is licensed by the Central Bank of Nigeria as an International Money Transfer Operator.
These registrations are matters of public record and can be verified through the relevant registries.
The matter referenced in the reporting arises from a single commercial currency transaction entered in March 2026. Under the agreements, Plaude delivered approximately 68% of the total obligation — over USD 8.9 million — to the counterparty's designated accounts within the agreed settlement window. A balance remains outstanding. Plaude has at no point denied that obligation, and its resolution is being actively pursued.
The shortfall arose from severe banking disruptions affecting the company during the settlement period — part of a well-documented de-risking cycle that has restricted banking access for cross-border payment platforms serving African corridors. It did not arise from any unwillingness or intention not to pay. Plaude has settled obligations at scale, over a sustained period and across multiple jurisdictions; this transaction was interrupted by a disruption to banking access, not by any departure from how the company operates.
This is a commercial dispute, and it is now subject to due process. No charges have been filed against the company or any of its officers, and no court has determined any wrongdoing. Plaude is engaging with the relevant authorities through counsel and will continue to do so.
We must also correct the record on the reporting itself. Contrary to the article's claim that Plaude did not respond to pre-publication inquiries, the company's counsel provided a formal written response before publication, identifying specific inaccuracies. That response was not reflected in the published story.
Several of the article's other claims are contradicted by publicly verifiable records, including the company's registrations, which any reader can confirm through the relevant public registries.
Plaude categorically rejects the personal insinuations directed at its Founder. They are false, and the company has reserved all of its legal rights in respect of the publication.
Plaude continues to operate under its licences and registrations and to serve its customers.
Because the matter is before the authorities, Plaude will not be commenting further on its substance. Updates, where appropriate, will be provided through official channels only.
This material is provided by Plaude Technologies Limited for informational purposes only and should not be construed as tax, accounting or legal advice. Plaude is not a bank, is not NDIC insured and does not guarantee the completeness of this information. Use of Plaude services is subject to our Terms and Conditions. Consult your own advisors regarding your specific circumstances.
