The 24-year-old Burkina Faso international joined the Chilli Boys for the 2024/25 Betway Premiership season but was released without making his first-team debut.
It was reported that as a result of the ban, Chippa would be unable to register new players for three consecutive transfer windows or until the outstanding debt is paid to Sanou.
But the Betway Premiership side now say that they have resolved all financial matters with former player Sanou.
"Chippa United Football Club has noted media reports alleging that the club is currently under a FIFA transfer ban due to an outstanding financial obligation," read a club statement.
"The club categorically states that these reports are factually incorrect and outdated. The settlement in question has already been paid, and the matter has been resolved.
"We are therefore disappointed by the publication of information that does not reflect the current position, as it creates unnecessary confusion among our supporters, partners and stakeholders."
Sanou began his career in Burkina Faso where he played for Royal FC Bobo, ahead of a switch to Swallows FC. After his exit from the Chilli Boys, Sanou returned home to play for Vitesse FC.
Chippa have faced similar action from FIFA in the past, most recently for unpaid debts to former head coach Luc Eymael, as well as former Tanzanian defender Abdi Banda and striker Augustine Kwem.
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