Kuda Bank is set to close Customer’s Account who are engaging in Cryptocurrency, based on recent allegations made by customers towards the bank’
In a message released by the bank and obtained by Brand Spur.
The message read, “In the light of the recent letters and statements issued by the Central Bank of Nigeria concerning transactions relating to cryptocurrency, please note that Kuda Microfinance Bank is not allowed to and does not deal in, or facilitate the trading of, any form of cryptocurrency.
Despite losing money from not trading in cryptocurrency, Kuda would like to be known for adhering to regulations from the Apex Bank of Nigeria, hence the bank is appealing to its customers as it is on the side of the people.
According to the Bank, “it cannot afford to flout the rules laid down by the Central Bank of Nigeria concerning cryptocurrency transactions. Disobedience to the rules may eventually lead to a revoked license.
However, the bank states that in cases of obvious fraud, it will report the client to the appropriate authorities (as the law stipulates) and close said client’s account so that the client will not defraud more people with that account.
The “bank of the free” ended the statement by appealing to customers not to engage in cryptocurrency transactions with their Kuda accounts, because any account found guilty will be closed.