Nigerian banks tracking customer accounts for crypto trading
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cointelegraph.comIn Nigeria, commercial banks have begun monitoring accounts that appear to be utilized for cryptocurrency trading.
The action is in response to an order from the Central Bank of Nigeria (CBN) demanding that all commercial banks freeze accounts belonging to at least two individuals engaged in cryptocurrency trading.
According to a report by local publication Leadership, an internal memo in one of the banks instructed employees to start monitoring accounts with significant transaction volumes or those that are believed to be used for cryptocurrency trading. The memo, according to Leadership, reads:
The document emphasized that employees who intentionally neglect to disclose an account's involvement in cryptocurrency trading would be penalized.
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