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❕NEWS Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations

Y

Yusra31

Guest
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.
 
If they have actually made the thing then they should be facing the heat elsewise they have no option than to wait to be honest in my opinion ...
 
Agree , the country needs to allow companies with some freedom they are repeating yhr mistakes of 1998 that caused the Hurst of their economy ...
 
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.
Some companies will want to do whatever will favour them at the expense of the masses. It may be a false accusation buy thorough investigation should be done to stop this.
 
These strict regulations about banning cryptocurrencies in Nigeria are really bad. It has ripped many institutions and citizens the opportunity of investing in these cryptocurrencies. I hope that they reconsider their rules someday.
 
They shouldn't have violet the forex rule as said by the Nigerian government, but even with this I hope the Nigerian government are not making things very difficult for cryptocurrency traders and forex traders ? Because to me it seems so they are doing it already
 
Those that have done the thing or can be taken as a lesson. Actually as it will help them follow and abide by the rules from the next time to be honest in my opinion
 
This will continue to happen when those who suppose yo control is now been control by the uneducated one. I belive this should be away of generating income to the country.
 
These strict regulations about banning cryptocurrencies in Nigeria are really bad. It has ripped many institutions and citizens the opportunity of investing in these cryptocurrencies. I hope that they reconsider their rules someday.
I also hope those considerations will happen in the near future but for now, it almost feels like dealing in cryptocurrencies in Nigeria is like being engaged in smuggling business😂.
 
Anyway I don't really have much to say, because the reason of freezing there has been communicated, it left for fintech to challenge there accusations in court.
 
When it comes to crypto related issue, Nigeria is the most confused state. She doesn't know whether to support it or reject it. Hence, she regulated it asking banks to stay away from any transaction involving crypto. Then the Nigerian crypto lovers resulted to peer to peer platforms to carry out ther transactions. Still, the government is still frustrating them. It is high time the government came out to spill out its mind on the issue of crypto rather channeling anger on the innocent crypto lovers.
 

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