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Court Ends Account Freeze on Two Payment Gateways


Court Ends Account Freeze on Two Payment Gateways

The Federal Supreme Court has instructed the Commercial Bank of Ethiopia (CBE) to release the bank accounts of AddisPay Financial Technologies and LakiPay Financial Technologies, which had been frozen during an investigation into alleged tax evasion. The accounts were initially blocked in December after the Ministry of Justice ordered the freezing of several payment gateway operators as part of a broader probe. Following investigations that lasted more than two months, the Federal Supreme Court notified the CBE in an official letter issued on March 8 that the restrictions on AddisPay and LakiPay had been lifted.

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