Horlawoomey:
There is a report that the CBN through a court injunction want to freeze the accounts of these trading platforms, i.e Trove, Chaka, Bamboo and Rise.

They wants to freeze their accounts for 180 days.

rmx:
https://nairametrics.com/2021/08/17/cbn-freezes-bank-accounts-of-six-fintech-platforms-for-180-days/

IyaTola:
They have done that already, you cannot withdraw on any of the platforms. The people I pity are RiseVest

rmx:
https://nairametrics.com/2021/08/17/cbn-freezes-bank-accounts-of-six-fintech-platforms-for-180-days/

Skyfly007:
https://www.thecable.ng/your-money-is-safe-accessible-bamboo-risevest-react-to-cbn-freeze-order#.YRwnAVK8Kkw

Kennyking1234:
This beautiful thread is now a ghost town..

4Play:


The thread "died" when the YOLO stocks peaked in February/March 2021. It was very predictable that the buzz/excitement won't last.....selecting individual stocks that outperform is more difficult than many people like to believe.

Now the CBN appears to have delivered another blow. It appears the government's specialty is maximising hardship.

4Play:


The thread "died" when the YOLO stocks peaked in February/March 2021. It was very predictable that the buzz/excitement won't last.....selecting individual stocks that outperform is more difficult than many people like to believe.

Now the CBN appears to have delivered another blow. It appears the government's specialty is maximising hardship.

IyaTola:
Try and withdraw and see if you can withdraw. Just wondering, why was Passfolio excluded from the CBN court issue?

IyaTola:
Try and withdraw and see if you can withdraw. Just wondering, why was Passfolio excluded from the CBN court issue?

Willie2015:


Passfolio is registered with the..
FINRA and SIPC...
Dats a solid regulatory oversight..

samsonadekoya12:


Minimum deposit requirements for passfolio?

Willie2015:


$0

samsonadekoya12:


Thanks. Just checked the rate of dollar to Naira exchange in passfolio. 521 naira to dollar..Wow.

Willie2015:


$0

IyaTola:
�In my opinion CBN are trying to engineer a bank run on these fintechs... So that investing Nigerians on this platforms might feel the need to exchange their investment for Naira just to be safe.... In return raising Naira value short term like their thinking

emmanuelewumi:



They wanted to freeze or they have frozen it

104927631: Pa Emma emerged! Lol

afroxyz:
In as much as I appreciate the good effort of some forum members, you guys should be careful of what you say here. There are spies lurking.

afroxyz:


How is this possible? How many Nigerians even invest that the capital would be enough to push the naira up? The issue is growing the exonomy which would raise the value of the Naira.

You cant be operating two parrallel exchange rates and exoect your cureenvy to be strong.

You give government appointees and piligrims dollar at official rate and those guys would roundtrip and sell to BDCs. Who is deceving who? They ban BDC, ban crypto, ban importation on some goods, pay people N5 to change their dollars. Yet the government is still borrowing and not producing. It won't work. Let them keep beating around the bush

Sabiboy99:


What can a spy do.. isn't there freedom of speech anymore..

4Play:


The most frustrating is the multiple exchange rates which is simply an avenue for them to profit from arbitrage by buying dollars at official rates and selling at market rates.

Having instituted a policy framework to facilitate their thievery, they then set about frustrating entrepreneurs in particular and Nigerians in general all in a bid to ensure a constant stream of loot.

It's just cruelty and greed masquerading as legitimate exchange rate management.

A lot of them are also aging dinosaurs, so they don't appreciate these fintech ventures and want to curtail them in order to ensure they alone get to decide who gets scarce foreign exchange.