The Central Bank of Nigeria (CBN) has sought to freeze the bank accounts of four major Nigerian fintech platforms, namely Risevest, Bamboo, Trave and Chaka.

These four platforms will have their accounts frozen for the next six months, according to Tech Cabal, for the purpose of probing the dealings of the online investment and trading platforms where most of the trading is happening online.

An ex parte motion, a motion for orders that can be granted without waiting for a response from the other side, ie. the fintech platforms, was granted by the Federal High Court in Abuja.

The motion ordered the temporary freezing of the bank accounts and was filed by Chief Michael Kaase Aondoakaa, on behalf of the CBN’s governor.

Read the full story on Africa.com News: https://news.africa.com/nigeria-s-central-bank-freezes-accounts-of-4-major-fintech-platforms-1920.html

Nigerian Businesses must learn to operate within the law. How do we compete globally if we do not appreciate the requirements of host countries and abide by them. Most Nigerian export get ban because basic rules we couldn't comply

Lifestone:
Nigerian Businesses must learn to operate within the law. How do we compete globally if we do not appreciate the requirements of host countries and abide by them. Most Nigerian export get ban because basic rules we couldn't comply

Abeg shut up e. Which yeye law? Government is busy frustrating people you dy there dy speak grammer.

Superpack589:

Abeg shut up e. Which yeye law? Government is busy frustrating people you dy there dy speak grammer.

But that won't change the standard of other countries.