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Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects - Business - Nairaland

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Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by ijustdey: 8:05pm On Nov 09, 2021
HILLARY ESSIEN

First City Monument Bank has put out an alert on accounts held by people between the ages of 18-30, asking staff to be on the lookout for money launderers and other criminal activities.

An internal email seen by Peoples Gazette titled “Compliance Advisory on Cryptocurrency Dealing/Transactions” is in furtherance of the Central Bank of Nigeria’s ban on the trading of cryptocurrency in the country.

Accounts “with high volume transactions operated by individuals between the age brackets of 18-30 years as signatories,” should be flagged for possible fraudulent activities by staff members, the memo said.

Other account types with similarly discriminatory guidelines include youth savings accounts, business savings accounts, personal business accounts, amongst others. The bank did not define what constitutes a high volume of transactions, but the account types listed captured all of its available packages for Nigerian youths.

The internal email urges staff to monitor the listed accounts for red flags “in order to make the Bank safe and protected from the activities of criminals, organized gangs, money launderers and terrorist financiers.”

This compliance advisory comes after the CBN ordered all Nigerian commercial banks to freeze the accounts of certain individuals for purportedly trading in cryptocurrency. The Gazette reported that two individuals, Nnamdi Francis Okereke and Nwaorgu Kingsley Chibuzor and a company TVS Hallmark Service Limited had been named in a Post-No-Debit directive issued by the banking industry regulator.

But the FCMB’s memo marked the latest escalation in the enforcement of the CBN’s directive. Section 42 of the Nigerian Constitution prohibits discrimination against citizens under whatever guise. FCMB did not return calls and e-mails seeking comments about the leaked memo to staff members.

It was unclear whether or not other banks have instituted similar controversial policies against young people, but a spokesman for the CBN Osita Nwanisobi said banks were not asked to enforce the ban on cryptocurrencies on the basis of age or other forms of discrimination.

“Our press statement on cryptocurrency the position of the CBN on the matter. Thank you,” Mr Nwasinobi said in response to The Gazette’s enquiries about FCMB’s memo.

https://gazettengr.com/crypto-ban-fcmb-begins-treating-customers-aged-18-30-as-fraud-suspects/

15 Likes 2 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by GOFRONT(m): 8:10pm On Nov 09, 2021
FCMB!! This same FCMB that cannot remove the log in his own eyes, now want to remove the spec from another man eye. Same FCMB whose MD was lashing Mr Tunde Thomas wife and got her pregnant just because Mrs Tunde Thomas was working under him in the office.

MD Nuhu impregnated another man's wife and sparked out paternity fraud in another man's family and that action alone sent the man to his early grave........What could be more fraudulent than this??

And they are here going after age bracket of 18-30 yrs as fraudsters...........well, no weapon fashion against our very own damn nigga Slawormir shall prosper!!!!! Inshallah, Insha Jihofa, Insha sango and amadioha.

582 Likes 54 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by FarahAideed: 8:12pm On Nov 09, 2021
Buhari has ruined this country

307 Likes 23 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Mrkumareze(m): 8:14pm On Nov 09, 2021
sad
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Nigerialabalaba: 8:14pm On Nov 09, 2021
Nonsense report as usual from bloggers wey dey form journalists. Shiorr. If every internal memo wey dey be news, dat means say una no get job niyen.shiorr

Btw, trading crypto no be job o.. All the artisans , printers etc in Lagos now don quit work and don turn to crypto. Dem get work o but just abandon dem work dey do Bitcoin . E go beta make government stop dis crypto madness o.
Lazy people wey dey look for free money. Awon ole ole! Shiorr. One wey I know never go him shop for months now becos of dis nonsense crypto get rich quick mentality. Thank you FCMB. Na laziness and get rich quick mentality dey worry dem!

Imagine someone wey be 18 to 30 years wey dey waste hin youth and time wey e supposed use get right skill, experience and network dey decieve himself say him na crypto trader. Shoro niyen? Awon ole! Lazy lot! U will suffer in old age if at 18-30 na free money and get rich quick schemes you dey chase. Go work! That plumber get job o but him abandon all the job dey do Nonsense crypto. FG must stop dis madness o before dem grow up to become armed robbers.


Lazy yoots! You go see dem dey wake up by 11a.m dey stretch. School dem no go, work dem no learn and if you give dem job,ur own don cast patapata be dat. Shiorr!!

56 Likes 10 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by AsampeteNwaanyi(f): 8:19pm On Nov 09, 2021
angry

jeezzz this is hight of it.

so they subjected us to poverty and it seems not to be working.

now they want to force poverty on us

what on earth did we do to buhari to warrant this kind of punishment.

I hope the zombies that voted this terrorist will be affected too.
what kind of life is this
what kind of setback is this
so we all should turn to banbi Allah so you'll know we're suffering real good.
Buhari posterity will never be kind to you
bad name shall follow your generation
your supporters will never know peace in this life and their generations shall suffer for their sins.

if you're supporting this government just know that the wrath of God will visit you and your generation
it shall never be well with you
curses shall follow you
peace shall never be your portion

it's not a curse but fact
I pray in Jesus name amen
insha Allah amin
iseeee

thank God I don't bank with useless fcmb

so for their mind na only youths dey trade crypto
they should start by blocking that criminal gworo chewing SAN called Malami that trades crypto

152 Likes 14 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by hisgrace090: 8:21pm On Nov 09, 2021
Buhari is chop alone president as citizens dry's up in hunger.

Who wrong this man my people?
The suffering is getting out of hand and all our leader could do is to increase the tempo daily.

53 Likes 6 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by AsampeteNwaanyi(f): 8:29pm On Nov 09, 2021
lalasticlala

3 Likes 3 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by revived: 9:03pm On Nov 09, 2021
Awon oloriburuku

Gbogbo wan ti yawerey

27 Likes 4 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by general111(m): 9:45pm On Nov 09, 2021
;Dthis government is funny..
Naira is on a free fall.
Fulani herdmens everywhere.
Bokoharam too..
But this government is busy running after crypto traders.

98 Likes 7 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by MorataFC: 10:04pm On Nov 09, 2021
How..?
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by EyezofGod120: 10:04pm On Nov 09, 2021
grin dem sha wan cripple us finish for this country,,God no go gree for una o

33 Likes 6 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Lordbinsmar: 10:05pm On Nov 09, 2021
angry

Werey Pipu and Olooriburuku government.

Always looking for ways to make Nigerians wallow in poverty.

Ogun kill APC

angry

26 Likes 3 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by gasparpisciotta: 10:05pm On Nov 09, 2021
This government is further killing this economy.

Imagine $10,000 in 2011 was #1,500,000 but now it is #5,700,000 just 10 years on

80 Likes 4 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by blamingthedevil: 10:05pm On Nov 09, 2021
Blogger blogger
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by deleo16(m): 10:05pm On Nov 09, 2021
cool
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Quelme: 10:06pm On Nov 09, 2021
Thunder where art thou!!! These set of kleptomaniacs in power are clearly out of touch with reality and they are out to frustrate hard working young Nigerians. Such a pity that the country will plunge further into deeper shits, like I mean big poo..

14 Likes 3 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by tensazangetsu20(m): 10:06pm On Nov 09, 2021
cheesy cheesy. Nigeria has 50 percent of it's population in extreme poverty by the time Buhari is done with Nigeria that number might be as high as 75 percent.

28 Likes 2 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by dingbang(m): 10:06pm On Nov 09, 2021
Apc is so incompetent.

5 Likes 1 Share

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by BigDolph(m): 10:06pm On Nov 09, 2021
Confused set of people just imagine what they’re trying to do. Nonsense and ingredient

9 Likes 2 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Evaromantik1(m): 10:06pm On Nov 09, 2021
Nigerian banks self. Just give them handcuffs to keep for you, before you come back they have already started making arrests with it.

This same FCMB i asked to stop an unauthorized transaction on my card and the hot listed my card and allowed the payment go through?. Yeye bank.

12 Likes 2 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Nobody: 10:07pm On Nov 09, 2021
There is a Sinister Agenda to impoverish all youths because wtf

15 Likes 3 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Searchingvictor: 10:07pm On Nov 09, 2021
Withdraw your money from there to another reasonable bank

41 Likes 2 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Picker28: 10:07pm On Nov 09, 2021

1 Like

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by solace89(m): 10:07pm On Nov 09, 2021
Everyday new wahala
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by elganzar(m): 10:07pm On Nov 09, 2021
grin grin

These people are dumb

4 Likes 2 Shares

Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by EtinosaDLaw(m): 10:08pm On Nov 09, 2021
Sunisonflex39:



Insha zues
Insha Olympus
Insha zirkhov


grin grin grin grin grin grin grin
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by morikee: 10:08pm On Nov 09, 2021
Bloggers
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by Damilare65(m): 10:08pm On Nov 09, 2021
Re: Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects by bestman09(m): 10:09pm On Nov 09, 2021
sad

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