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Nairaland Forum / Nairaland / General / Business / CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" (38721 Views)
Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery / FG Moves To Digitise FX Transactions To Punish Naira Speculators / Risevest’s CEO, Eke Urum, Found Guilty Of Sexual Impropriety And Abuse Of Power (2) (3) (4)
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Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by otomatic(m): 7:00am On Aug 18, 2021 |
They are not ponzi schemes but people don't know that financial services is the most regulated industry. There are so many laws and regulators and I wonder if their backers are not aware of this fact. Transferring 10K dollars with no suspicious transaction report rendered is against anti money laundering laws. Dealing in foreign securities is also against the laws. In as much as I encourage the innovations, they should work within applicable laws and with relevant regulators. As long as you are taking Deposits from the public, it's not only SEC you will deal with. There is CBN, NDIC, NFIU, law enforcement, etc. I hope the issues are resolved speedily. 5 Likes 2 Shares |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Ajibel(m): 7:01am On Aug 18, 2021 |
UnknownT: Abeg no talk this thing again E fit induce HBP |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by lexy2014: 7:08am On Aug 18, 2021 |
authority2006: at what point did u and i have a discussion about boko haram account numbers? who are d "we"? when did d "we" have any discussion with regarding d above? can u produce that discussion? isnt it obvious that u are d one who shouldnt be listened to because ur post is full of lies? 1 Like |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Zagee: 7:11am On Aug 18, 2021 |
But they said disruptive technology is good. Nigerian government and BDSM |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Zagee: 7:43am On Aug 18, 2021 |
Zero comprehension spotted here Bodmum: |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Zagee: 7:43am On Aug 18, 2021 |
Zero comprehensionspotted here Bodmum: |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by CSTRR: 8:00am On Aug 18, 2021 |
FarahAideed:In America, I am sure you can invest in foreign stocks. Whose fault is it that Nigerians are buying foreign stocks and preserving their wealth from inflation? Why blaming the victims.? 4 Likes |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Laredojohn(m): 8:05am On Aug 18, 2021 |
peacettw:My thoughts also |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Nobody: 8:08am On Aug 18, 2021 |
emmanuelewumi: Many people that are making comments are hustling youths who don't really understand how financial institutions and systems work. In business, people look for loopholes and key into that loopholes and make money before it is blocked. I think Fejiro Agbodje is right by moving Patricia's base out of Nigeria to Estonia. Though shifting base does not mean they don't do any financial transaction with institutions in Nigeria, but the impact on their business would be minimal. These companies are licensed for another business and are doing other things not covered by their licence. Technology is vast and universal and 100% monitoring is not possible. It is knowledge base. What has happened will enable them to think deeply and device other means of business. 3 Likes |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by FarahAideed: 8:09am On Aug 18, 2021 |
CSTRR: Buying stocks properly is a lot different from this fractional stock owning fraud these companies are perpetrating ....the American govt will never allow Americans to buy Nigerian fractional stock if the reverse is done .... Truth be told companies like trove , Chaka , Bamboo are just playing on the desperateness of Nigerians to hedge inflation and stealing from them by creating a fraudulent mirror exchange that just steals from you...The US stock exchange only recognizes full shares and not fractions and that's why these companies cannot provided you with any evidence that you own shares other than a computer screen showing you green and red arrows ....Don't let them play you 3 Likes |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Nobody: 8:13am On Aug 18, 2021 |
fnep2smooth:CROOKED START UP LIKE OBI |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by CSTRR: 8:31am On Aug 18, 2021 |
FarahAideed:Well, maybe if Nigeria had a history of less corruption, and strong regulatory policies and a stable economy, the US would have no problem in their citizens investing in our fractional stocks. The US would not stop their citizens from investing in most European stocks and possibly even Chinese stocks until the recent trade wars. Besides there is no difference between fractional stocks and buying full stocks. The only difference is that you are buying a fraction of it which is even a safeguard for the customers. 1 Like |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by afroxyz: 9:00am On Aug 18, 2021 |
FarahAideed: Stop exposing your ignorance. Where did you hear that US supports only full shares? Did you just crawl out from under a stone? On Robinhood you can buy fractional shares. Samething with eToro and many others. So if it was illegal Robinhood would become a public company trading on US exchange? What does reading charts have to do with fractional shares? Go and read to know 1 Like |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by afroxyz: 9:02am On Aug 18, 2021 |
CSTRR: The guy is a morass of ignorance. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Samabu07(m): 9:11am On Aug 18, 2021 |
MHBNeiman:It's not. Operate an open mind to every business opportunity that comes your way. Do diligent research and make your conclusion on that. Even if you don't subscribe, assuredly, you have gained some insight on business. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by zhunterz: 9:44am On Aug 18, 2021 |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by FarahAideed: 9:53am On Aug 18, 2021 |
afroxyz: I didn't say it's illegal but no exchange in America issues you a share cert for fractional shares ...I am sure I have spent more money on Robinhood than you have so shut up and learn |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Nobody: 9:55am On Aug 18, 2021 |
Hyips are generally scam not business opportunity. This is 2021 dude. Samabu07: |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by afroxyz: 10:06am On Aug 18, 2021 |
FarahAideed: I really doubt. Because if you really have 'spent money on Robinhood' you would not make this blunder. Even holders of fractional shares receieve dividends. By the way Robinhood does not operate in Nigeria. Dundee. 2 Likes |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by FarahAideed: 10:10am On Aug 18, 2021 |
afroxyz: And you assume I am of the same social class with U? . .. Robinhood is the one that receives the dividend and pro rates it to re allot it ...the stock exchange don't know you they know Robinhood ...at any time robinhood could clean you out ....well I can't keep arguing with a typical Nigerian sheep , afterall people like you fund my life everyday and I am thankful .. without people like some of us will not eat |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by gwinaB(m): 10:22am On Aug 18, 2021 |
fnep2smooth: What they did is an infraction against cbn regulations, even banks will be sanctioned for same infraction. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by hedonido: 10:23am On Aug 18, 2021 |
chukel: You can imagine. I'm just fed up with this shithole. 2 Likes |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by gwinaB(m): 10:29am On Aug 18, 2021 |
shadeyinka2:Under cbn regulations, you can't buy Fx from CBN and used same to purchase shares outside the country, that's one one the infractions they are citing them for. And if you are not licensed to do fx biz, it's equally wrong to freely and openly indulge in it. The Nigerian financial sector is heavily regulated and you are choiceless in complying. 1 Like |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by hedonido: 10:29am On Aug 18, 2021 |
What about Bundle Africa app? I hope they're beyond safe o? |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by gwinaB(m): 10:31am On Aug 18, 2021 |
UnknownT: If they do any financial business without license, their account will be frozen too. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by gwinaB(m): 10:32am On Aug 18, 2021 |
UnknownT:If they do any financial business without license, their account will be frozen too |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by gwinaB(m): 10:40am On Aug 18, 2021 |
KazikageSama: That's not true though. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by gwinaB(m): 10:41am On Aug 18, 2021 |
Frezhkid10: Bureau de change gets allocation from CBN and they are accused of round tripping, reason cbn stopped selling to them. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Nobody: 10:56am On Aug 18, 2021 |
zhunterz: 2031? Lol,,,, dem for kuku tell you not to visit NL again. 1 Like |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Gaddafih001(m): 10:57am On Aug 18, 2021 |
peacettw:Na PiggyVest hol me o.. Kuda is my transfer machine o.. Nothing go do us. |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Nobody: 10:57am On Aug 18, 2021 |
If you know what is good for you Convert all your naira to crypto usdt Learn how to stake crypto for daily income It's better than investing in any local firm that will pack up cause of buhari policies |
Re: CBN To Freeze Risevest, Bamboo Accounts for "Illegal FX Transactions" by Mopolchi: 10:57am On Aug 18, 2021 |
Wahala dey ooo |
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