Nigerian banks tracking customer accounts for crypto trading
Personal accounts with large multi-day inflow and outflow are being tracked at the behest of the country’s central bank. In Nigeria, commercial banks have begun monitoring accounts that appear to be utilized for cryptocurrency trading. The action is in response to an order from the Central Bank of Nigeria (CBN) demanding all commercial banks freeze accounts belonging to at least two individuals engaged in cryptocurrency trading.According to a report by local publication Leadership, an internal memo in one of the banks instructed employees to start monitoring accounts with significant....
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The Central Bank of Nigeria (CBN) called for the bank accounts of two allegedly crypto traders to be frozen and funds suspended by all Nigerian commercial banks. The crackdown seems to be the beginning of more tightening measures. the Director of Banking Supervision, J. Y. Mammanand addressed the banks in a circular quoted by Peoples […]