Bureau De Change Nigeria

FinTech

Nigeria’s Central Bank Freezes Accounts of 4 Major Fintech Platforms

Luis Monzon - August 18, 2021

The Central Bank of Nigeria (CBN) has sought to freeze the bank accounts of four major Nigerian fintech platforms, namely Risevest, Bamboo, Trave and Chaka. These four platforms will have their accounts frozen for the next six months, according to...

FinTech

Why the Central Bank of Nigeria is Cracking Down on Forex Sales

Luis Monzon - July 29, 2021

The Central Bank of Nigeria (CBN) has banned the sales of foreign exchange (FX/Forex) to Bureau De Change (BDC) operators in Nigeria. The registration of new BDC operators has also been halted with immediate effect. Godwin Emefiele, CBN's governor, made...

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