Crypto Investors in Nigeria Are Against Central Bank’s Decision to Flag P2P Users
Nigerian crypto investors have recently expressed concerns about their bank accounts being flagged by the Central Bank of Nigeria (CBN) in connection to the near $6.3 million (2.9 billion naira) Flutterwave hack.
On February 19, Albert Onimole, legal counsel for Nigerian fintech company Flutterwave, reported to police in Yaba, Lagos, that almost $6.5 million (3 billion naira) had been illegally transferred from the accounts of his client.
On February 27, a motion ex-parte was filed and granted in support of Flutterwave’s claims, with 107 accounts, including their fifth beneficiaries, being put on lien/Post-No-Debit (PND).
As a result, some local accounts have been frozen, leading to a decrease in P2P usage as users fear their accounts could be the next to be flagged.
