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Nigeria's Central Bank has intensified its regulatory actions against cryptocurrency trading by directing four fintech companies to halt the opening of new accounts as part of an audit of KYC processes. This move is part of a broader crackdown aimed at curbing illegal financial activities, including shady foreign exchange dealings. The affected companies include OPay, Kuda Bank, Moniepoint, and PalmPay. Additionally, the Central Bank has frozen over 1,100 bank accounts belonging to crypto traders.
NIGERIA FREEZES FINTECH PLATFORM SIGNUPS TO COMBAT SHADY FX DEALINGS - The Central Bank of Nigeria (CBN) has forced four separate fintech companies to stop onboarding new customers. Those companies are… OPay Kuda Bank Moniepoint PalmPay - Onboarding has been frozen while an… https://t.co/gDJZKuiL7o https://t.co/S4CE9TnJH8
🚨JUST IN: NIGERIA HALTS FINTECH PLATFORM ONBOARDING AS IT AUDITS KYC PROCESSES
The Nigerian Central Bank has requested four fintech companies to pause creating new accounts in a bid to block crypto traders from accessing them https://t.co/QL43gg4UC1
