Image showcasing various cryptocurrencies like Bitcoin and Ethereum displayed on a smartphone, emphasizing digital finance.
Moniepoint, a Lagos-based startup whose digital banking operation is one of the largest in Nigeria, told customers earlier this week that it would close crypto trading accounts in compliance with regulations by the Central Bank of Nigeria (CBN). OPay, the Chinese-backed digital banking provider that is one of Africa’s most valuable startups, sent a similarly worded warning to customers. Nigerian officials have blamed crypto exchanges for encouraging inflated demand for the dollar against the naira.
SOURCE: SEMAFOR