Reporting on Fintech, Bitcoin, Ethereum, Blockchain and Cryptocurrency News in Nigeria

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Just In: Zenith Bank Reportedly Closing Crypto Related Bank Accounts

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Unconfirmed reports circulating at moment has it that Zenith Bank is freezing accounts of crypto traders who purchased crypto directly with their Zenith Bank accounts on KuCoin and Binance exchanges.

The circulating notice reads;

“If you used your ZENITH Bank to buy coin from kucoin or binance….
Transfer your fund now!!!! They are blocking accounts. My account officer called me that he was instructed to close my Zenith account.. I just moved out my fund.. Some people might not be that lucky”.

Recall that the restrictions CBN placed on banks against trading on cryptocurrencies in Nigeria is still in effect and some banks arbitrarily chose to exercise this directives based on suspicion.

Also Read: There Is No Law Against Crypto In Nigeria: Court Rules. Unfreezes CBN Blocked Accounts Over Crypto Trading.

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