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[Yusra31]

After a Federal High Court in Abuja granted a "ex parte motion" the Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days. The ex parte request which is a type of temporary suspension was granted after it was filed on behalf of CBN governor Godwin Emefiele by a Nigerian chief Micheal Kaase Aondoakaa.

 

[Niftyicon]

Nigeria and its chaos brought upon average people who are able to invest in international stocks and shares through those platforms with their little funds. Many are scared of what this freezing of accounts would do their investments and others are now discouraged about trying to invest in foreign stocks.

 

[Josemendez]

It is indeed sad that the country are missing out on opportunities to generate revenue for the country. They should have placed them on taxation

 

[SCAMEXPOSER]

I don't think this thread is informative enough , we don't know the kind of violation the companies did which warrant such, I believe there are other fintech in the country doing fine.

 

[Wisdom01]

I don't think they would just freeze their account if they haven't committed any crime , although the banks are against crypto but that was too much

 

[Gerson14]

Nigeria and its chaos attracted people who can normally invest in international stocks. Many are afraid of what this account freeze would do to their investments and others at this time are discouraged from investing in foreign stocks.

 

[Josemendez]

Nigeria and its chaos attracted people who can normally invest in international stocks. Many are afraid of what this account freeze would do to their investments and others at this time are discouraged from investing in foreign stocks.

The affected companies have made announcement informing their customers that there is no cause for alarm as they have been making plans to sort things with the government

 

[Flower]

The Nigerian government with one sided regulations is a thing that raises concern. The most painful part is the Investors will suffer the most.

 

[SCAMEXPOSER]

The affected companies have made announcement informing their customers that there is no cause for alarm as they have been making plans to sort things with the government

That's good , I believe if they meet with government agencies they will surely settle, it is very possible that they also have their flaws which is amendable..

 

[Josemendez]

That's good , I believe if they meet with government agencies they will surely settle, it is very possible that they also have their flaws which is amendable..

Well , you won't blame them .there are many foreign companies operating in the country without paying Taxation to the government. Some of them , the government are not even aware of them

 

[SCAMEXPOSER]

Well , you won't blame them .there are many foreign companies operating in the country without paying Taxation to the government. Some of them , the government are not even aware of them

You may be right but at a point some of them will be uncovered except strong persons in the government are covering them. The best is to follow all procedure .

 

[LutherKing]

Well 180 Days Thats A. Breakup Thing Situation for A Business , They Should Have Provided Instructions To Improve The Business Business Rather Doing Such Activity That's bad To Be Honest

 

[Josemendez]

You may be right but at a point some of them will be uncovered except strong persons in the government are covering them. The best is to follow all procedure .

There is no strict regulation in the country with respect to investment or establishment of companies. People carry out their establishment easily without following any legal process

 

[SCAMEXPOSER]

There is no strict regulation in the country with respect to investment or establishment of companies. People carry out their establishment easily without following any legal process

I don't think so , it is just that some companies operate legally and get a way with it , the biggest challenge with the country is lack of central data base.

 

[kaycee001]

Regulations is the basis in any thriving sector so that illegal activities can be controlled and curbed if need be. The Central Bank did what i think will benefit the Nigerian economy and to also safeguard investors from loosing their hard earned money.

 

[LutherKing]

Regulated Activities Should Be Appreciated And Those Who Are Not Should Be Encouraged This Will Be The Best Solution To Be Honest

 

[Josemendez]

I don't think so , it is just that some companies operate legally and get a way with it , the biggest challenge with the country is lack of central data base.

I know of hospitals owner by Chinese people in my neighborhood and most of them do not have Government approval for their business.

 

[SCAMEXPOSER]

I know of hospitals owner by Chinese people in my neighborhood and most of them do not have Government approval for their business.

A very bad one, I guess the state internal revenue service of your location is not functional as supposed otherwise they should have identified them and enforced them or comply.

 

[Brain]

It is indeed sad that the country are missing out on opportunities to generate revenue for the country. They should have placed them on taxation

That's my country for you always doing things the wrong way well whatever carry them through the day because I'm just tired of their irrational decision with good investment opportunities

 

[07Trinity]

After a Federal High Court in Abuja granted a "ex parte motion" the Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days. The ex parte request which is a type of temporary suspension was granted after it was filed on behalf of CBN governor Godwin Emefiele by a Nigerian chief Micheal Kaase Aondoakaa.

One of the clueless decision they made, they blame this fintech companies for been the surge behind inflation in the nigerian money, it was that bad especially when it shoot out to the world.