Market News
CBN Bans Moniepoint, Opay, Kuda, Others From Onboarding New Customers - NEW TELEGRAPH
The Central Bank of Nigeria has barred some microfinance banks, including Moniepoint, Opay and Kuda, from opening new accounts and accepting new customers over allegations that they were being used to funnel cryptocurrency and manipulate the naira’s value.
Reports said the CBN deemed the new-accountban necessary to curb money-laundering activities which have seen the naira again plunge against the dollar in recent days.
One of the affected platforms, Moniepoint, notified potential customers of the temporary suspension of new sign-ups on its platform.
