A Multi-currency Treasury Management Startup, RemX, says neither the firm nor related companies, directors and elected officials are under probe by the International Criminal Police (INTERPOL) over alleged $221 million deals.
This was contained in a rejoinder to a story published by Metrostarng and titled: ‘PRESS RELEASE – Interpol probes three Nigerian billionaires over alleged $221m deals.’
The full statement reads: ” It has come to our attention that articles have been published by certain media platforms, making allegations of money laundering and corruption against our Company (and related Companies), Directors and elected officials.
These articles have been picked up by more Nigerian and Kenyan news websites.
These allegations are speculative, wrong, and defamatory. These articles have used unrelated facts and conjecture to create a narrative that is fictitious, with no proof provided by these journalists.
ABOUT THE COMPANIES: To clarify, RemX is a Multi-Currency Treasury Management Startup company, the first of its kind. It is aimed at solving cross-border currency challenges, experienced by companies operating in different African markets.
RemX is purely B2B (Business-to-Business) service provider. Hence, we only provide services to corporates and not individual customers. We also do not provide services to Politically-Exposed-Persons (PEPs).
OIT: is an online remittance collection company that partners with licensed remittance companies to enable marketing expansion and collection capability.
Multigate: This is an extremely high growth Fintech company that serves mainly banks and large enterprise corporates. Licensed as a Payment Solution Service Provider (PSSP) and International Money Transfer Operator (IMTO), our services are powered by our cuttingedge Fintech products: OmniVue and BoltSend.
OmniVue is a treasury and cash management product for corporates. It allows corporates to view all their account balances on one dashboard, access their bank statements in an aggregated display and make payments from any of their bank accounts. This product is powered by SWIFT, as we are the first Fintech in Africa to provide SWIFT to corporates.
BoltSend is a cross-border remittance product solely for banks and financial institutions (inclusive of Fintechs). BoltSend provides deep access to local currency liquidity in various African markets, thus enabling financial institutions to execute their cross-border needs without over-exposing their currency position.
These companies are high growth start-ups run by professional founders, whose backgrounds are not affiliated with any political movement.
ALLEDGE POLITICAL AFFILIATION: The founders of Multigate, RemX and every company
mentioned in these articles do not know and have no relationships or affiliations to any
politician in Nigeria, Kenya or in any of the markets we operate in.
These articles also make an issue of the fact that the commissioning of one of our offices
by the government, suggests an improper relationship. Please note that the government
promotes Nigerian entrepreneurs, and it is a well-known fact that over 100 commissionings have been conducted over the last 7 years.
To suggest an untoward relationship of political affiliations because of this, without any sort of proof is unfortunate and unprofessional.
The articles have also attempted to tie a series of stakeholder engagements with government representatives which is common anywhere in the world, to improper activity without any proof of such and how they connect to our companies.
ALLEGATIONS OF MONEY LAUNDERING: Our companies mentioned above, routinely
move funds legally and internationally in large amounts to perform its services and these
articles have sought to isolate a number of transfers without providing supporting
evidence of money laundering.
The mere fact that large amounts of money are moved by our businesses does not make
it money laundering and demonstrates a lack of understanding of our business model.
We would have been happy to explain this to the journalists however, in a surprising
breach of journalistic responsibility, neither of these publications reached out to us for
comments or clarification.
There was no money laundering involved. Rather, these companies engaged solely in
treasury management and currency hedging services to corporate clients that work in
different African markets.
Contrary to the articles claim, all money received by RemX are from electronic payment processing and settlement of corporate client funds which are
legitimate businesses in Kenya, Nigeria and worldwide.
The fact that we have multiple companies operating in different countries does not make
this a money laundering operation and while the articles have gone to great lengths to
show common ownership, which is public knowledge, they did not apply this same
diligence to providing any evidence of money laundering.
INTERPOL: Please note that prior to these articles and at this time, we have no knowledge of an Interpol Investigation, neither have we being contacted or interrogated.
As a company, our purpose is to simplify transactions across multiple jurisdictions. We exist to make financial inclusion efficient. Kenya and Nigeria remain key markets in our operations, and we are positive about the outlook of our business model, not only in these countries but across Africa and the globe.
SIGNED: EXECUTIVE MANAGEMENT”