Nigeria, May 4 -- Following the decision of the Central Bank of Nigeria (CBN) to stop major fintech firms from onboarding new customers, the Nigerian fintech companies comprising Opay, Palmpay, Moniepoint, and Kuda have warned their customers against trading in cryptocurrency or any virtual currency on their apps, threatening to block any accounts found engaging in such activities.

The Informant247 reports that at least four fintechs-Opay, Moniepoint, PalmPay, and Paga-communicated the new directive to their customers on Friday.

It would be recalled that the Central Bank of Nigeria (CBN) had last week stopped major fintech firms from onboarding new customers, owing to the ongoing audit of the Know-Your-Customer process of the fintech, w...