Plaude Technologies Limited has provided clarification on reports on a disputed foreign-currency transaction involving Zacuten Technologies Limited and Crossbeam Financial Services Limited.

It disputed aspects of the accounts previously published about the matter.

According to documents and information supplied by Plaude, the transaction had a stated value of $13,072,977.77 and arose from a series of currency swap agreements entered into between March 4 and March 10, 2026.

Plaude said it transferred approximately $8.95 million of the agreed amount before difficulties encountered within its banking arrangements affected the completion of the transaction.

The company said records available to it indicated that $8,949,815.38 was transferred to designated accounts within the settlement period specified by the parties.

It disputed any characterisation of the transaction that, in its view, failed to take into account payments already made.

Plaude acknowledged that a balance remained outstanding but said the existence of an unresolved commercial obligation should not be interpreted as evidence of fraud, criminal conduct or an intention to permanently withhold payment.

The company attributed the delay in settling the balance to what it described as significant disruptions affecting some of its banking relationships.

These, it said, included enhanced due-diligence reviews, transaction delays, restrictions affecting particular payment corridors and the closure of certain accounts.

The firm said it would continue to take steps to address the outstanding balance and to recover funds affected by banking restrictions and account closures.

It also pointed to a petition to the Nigerian Police which, according to documents supplied to it, was dated March 21, 2026, while references had reportedly been made to restrictions affecting its accounts as early as March 17.

Plaude said the discrepancy did not, by itself, establish wrongdoing by any party, but argued that the chronology should be accurately presented and independently verified before conclusions were drawn.