{"id":29759,"date":"2024-04-30T19:01:33","date_gmt":"2024-04-30T19:01:33","guid":{"rendered":"https:\/\/nigerdeltanews.ng\/illicit-fx-transaction-opay-breaks-silence-over-cbn-restriction\/"},"modified":"2024-04-30T19:01:33","modified_gmt":"2024-04-30T19:01:33","slug":"illicit-fx-transaction-opay-breaks-silence-over-cbn-restriction","status":"publish","type":"post","link":"https:\/\/nigerdeltanews.ng\/illicit-fx-transaction-opay-breaks-silence-over-cbn-restriction\/","title":{"rendered":"Illicit FX transaction: Opay breaks silence over CBN restriction"},"content":{"rendered":"<div>\n<p>Nigeria\u2019s financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria\u2019s restriction.<\/p>\n<p>According to Nairametric, Opay disclosed this in a statement on Tuesday.<\/p>\n<p>DAILY POST reports that OPay, Palmpay, Kuda Bank, and Moniepoint were restricted from onboarding new customers due to allegations of accounts being used for illicit foreign exchange transactions.<\/p>\n<p>However, OPay said it remains committed to working closely with CBN and other regulatory bodies to fight money laundering, fraud, terrorism financing, and other illegal financial activities.<\/p>\n<p>\u201cAs a regulatory-compliant institution, OPay follows the rules the CBN and other regulators set to ensure the financial system\u2019s integrity. To achieve this, we have closed non-compliant accounts, implemented strict security measures, and educated customers to help combat fraud,\u201d it stated.<\/p>\n<p>Opay and other fintech companies have temporarily paused onboarding new customers and creating new wallets to support government efforts to clean up the financial industry.<\/p>\n<p>\u201cWe want to assure our customers that their funds are secure and their data is protected, which is a temporary measure,\u201d Opay said.<\/p>\n<p>The development comes amid the Nigerian government\u2019s clampdown on currency speculators in the foreign exchange market.<\/p>\n<p>Recently, the court granted the Economic Financial Crimes Commission\u2019s request to freeze 1,146 bank accounts.<\/p>\n<p>Illicit FX transaction: Opay breaks silence over CBN restriction<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria\u2019s financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria\u2019s restriction. According&hellip;<\/p>\n","protected":false},"author":1,"featured_media":29760,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,4274,15,14633],"tags":[519,63,180,14634],"class_list":["post-29759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-cbn","category-news","category-opay","tag-business","tag-cbn","tag-news","tag-opay"],"_links":{"self":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/29759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/comments?post=29759"}],"version-history":[{"count":0,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/posts\/29759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media\/29760"}],"wp:attachment":[{"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/media?parent=29759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/categories?post=29759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nigerdeltanews.ng\/wp-json\/wp\/v2\/tags?post=29759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}