Nigerian crypto traders query central financial institution's determination to flag p2p customers

Nigerian crypto traders utilizing peer-to-peer (P2P) companies have expressed considerations in regards to the Central Financial institution of Nigeria (CBN) flagging their financial institution accounts. CBN’s determination to flag accounts is believed to be in relation to the close to $6.3 million (2.9 billion nairas) Flutterwave hack, because the financial institution accounts have yet-to-be-proven affiliations with the hack.

In keeping with native information sources, on February 19, 2023, Albert Onimole, authorized counsel for Flutterwave, a Nigerian fintech firm, allegedly reported a case to the Deputy Commissioner of Police, in Yaba, Lagos, of virtually $6.5 million (3 billion nairas) that had been illegally transferred from the accounts of his consumer.

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