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Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

The Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief, Micheal Kaase Aondoakaa, filed the motion on behalf of CBN governor Godwin Emefiele. Accounts Frozen to Enable Further Investigation According to one report, this temporary freeze of the bank accounts will enable the CBN to institute further investigations into the…

The post Nigerian Central Bank Freezes Bank Accounts of Fintech Firms, Accuses Them of Violating Forex Regulations appeared first on Technology Manias.

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