👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

FinanceNews

Central Bank of Nigeria freezes accounts of Nigerian Crypto investors

The Central Bank of Nigeria has freezed the accounts of Nigerian Crypto investors following Flutterwave hack.Information Guide Nigeria

According to news.todayq.com, Nigerian crypto investors are expressing concerns after the Central Bank of Nigeria (CBN) flagged their bank accounts in connection with the recent Flutterwave hack.


👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

The freezed accounts are suspected to have links to the $6.3 million hack, which is believed to have flowed into the Nigerian crypto market through various over-the-counter (OTC) platforms.

Recall that Flutterwave reported the case to the Deputy Commissioner of Police in Yaba, Lagos, alleging that almost $6.5 million had been illegally transferred from their client’s accounts. A motion ex-parte was filed and granted on February 27th, putting 107 accounts on lien/Post-No-Debit (PND).NYSC Portal

Other Top Stories:

This situation has discouraged P2P users from interacting with OTC markets and has caused some businesses to crumble.

Despite strict crypto regulations by the apex bank, the P2P market has aided Nigerian trade. However, some financial analysts view it as a black market hub for scammers laundering fraud funds.

Though Flutterwave denied the hack, stating that it had identified an unusual trend of transactions on some users’ profiles and immediately launched a review in line with its standard operating procedure.

It revealed that some users who had not activated some recommended security settings might have been susceptible.

As reported by news.todayq.com, Nigeria maintains its position as the largest crypto hub in Africa, it is crucial for the government to address the challenges facing the crypto market while also supporting its growth and development.JAMB Result

👉 Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Check JAMB Result

Check and Confirm: How much is Dollar to Naira

 

 

📢 We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us  for immediate removal.

Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker