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HomeBusiness NewsOPay Announces Closure of Crypto Trading Accounts Due to CBN Directive

OPay Announces Closure of Crypto Trading Accounts Due to CBN Directive

Nigerian financial technology company OPay has issued a warning to its users not to use their accounts to support bitcoin transactions.

The fintech company stated in a statement on Friday that it will terminate cryptocurrency trading accounts in response to a mandate from the Central Bank of Nigeria (CBN).

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The announcement comes in response to the CBN’s recent order for some Fintechs (financial technology businesses) to stop onboarding new clients until further notice.

Some fintech firms confirmed compliance with the CBN directive on April 30.

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In the statement, OPay said in “compliance with the CBN directive, please note that OPay prohibits any cryptocurrency and all virtual currency trading”.

“Any account engaging in such activities will be closed, and customer information will be shared with regulatory authorities,” OPay said.

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“Please ensure that your account does not involve any cryptocurrency or any other virtual currency transaction.” [CONTINUE READING HERE]

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