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Home Business

GT Bank, Access close accounts of cryptocurrency traders

by Editor
February 13, 2021
in Business
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Access close accounts, cryptocurrency, GT Bank
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Two new generation banks, Access and Guaranty Trust Bank (GTB), have started closing accounts of persons and entities doing cryptocurrency transactions within their systems.

The Central Bank of Nigeria (CBN) had on February 5 directed banks to close the accounts of those involved in cryptocurrency transactions.

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However, in an email received by an Access Bank customer on Friday, the bank said it reviewed the customer’s account activities and “observed that transactions therein have been linked to cryptocurrency trading.”

The bank, therefore, enjoined the affected customer to visit any of its branches around to request for a draft of their account balance.

“Due to the unregulated nature of Cryptocurrency trading and the further directive from the CBN, we are unable to serve as your organisation’s financial partner going forward.

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“We have therefore proceeded on the closure of your account and a draft will be issued to you for the equivalent sum in your account,” the email read.

The authenticity of the email was further confirmed to our correspondent by a staff member of the bank in Ekiti State.

She said, “Yes, it’s true. Not only Access Bank, but all banks. That’s the new CBN directive to banks, so we have no option but to comply.”

A screenshot of a WhatsApp conversation between a GT Bank customer and its customer support also showed the bank had started enforcing the directive of the apex bank.

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Tags: Access BankCentral Bank of Nigeria (CBN)cryptocurrencyGT Bank

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Business Influx Editor

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