OPay threatens to shut accounts trading crypto

OPay, a leading financial technology company, has warned its customers against trading in cryptocurrency or any virtual currency on its app.

In a notice issued on Friday, the company said it would block any account found engaging in such trading and also forward the details of the account owner to the regulator.

“In compliance with the CBN directive, please note that OPay prohibits any cryptocurrency and all virtual currency trading. Any account engaging in such activities will be closed, and customer information will be shared with regulatory authorities.

“Please ensure that your account does not involve any cryptocurrency or any other virtual currency transaction,” the company warned.

This is coming as the Central Bank of Nigeria (CBN) continues to beam its searchlights on fintech companies in the country.

Earlier, the CBN had directed OPay, Moniepoint, Palmpay, and Kuda Bank to stop onboarding new customers.

OPay’s warning comes after Nigeria’s National Security Adviser (NSA)  reportedly classified crypto trading as a national security issue.