Nigerian Fintechs Challenge Crypto Usage: Bitcoin (BTC) and Ethereum (ETH) Investors Face Pressure
Release: 2024/05/04 00:10 Reading: 931
Nigerian Fintechs Enforce CBN Directives, Tighten Measures Against Cryptocurrency Transactions
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Nigerian fintech platforms, including Moniepoint, PalmPay, and Paga, have intensified their measures against cryptocurrency transactions in accordance with directives from the Central Bank of Nigeria (CBN).
Users of these platforms now face the risk of having their accounts blocked if they engage in crypto-related activities. Moniepoint has issued a notification to its customers stating that accounts involved in crypto transactions will be closed and user details shared with relevant authorities.
Nigerian Fintechs Enforce CBN Directives
Several Nigerian fintech platforms, including Moniepoint, PalmPay, and Paga, have strengthened their measures against cryptocurrency transactions. These actions align with directives from the Central Bank of Nigeria (CBN). Users of these platforms now face the risk of account closures if they engage in crypto-related activities.
Moniepoint Notifies Customers of Account Closure
On May 2, 2024, Moniepoint notified its customers that accounts involved in crypto transactions would be closed. The platform also stated that user details would be shared with relevant authorities.
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