Cryptocurrency ban: Providus bank announces closure of its virtual account

The management of Providus Bank has announced the closure of the bank’s virtual accounts following the directive from the Central Bank of Nigeria which came on Friday.

The announcement was made on Sunday through the twitter handle of the bank, in the tweet, the bank said,

“ We wish to announce that our virtual payment services are currently unavailable . In the meantime, customers are advised to use alternative payment options , ”.

Following this announcement by Providus bank, Piggyvest, a fintech company in partnership with the bank advised its customers to get their new virtual account details. The tweet read,

“ We received communication from our virtual account provider that the existing Providus virtual accounts are currently inactive . Please login to your account to get your new virtual account details , “

Another online payment platform, Monnify , issued a statement assuring customers of new account numbers to replace the ones where was provided by the bank, the statement read,

“ We would ask that you don ’ t panic and rest assured that you would be able to access all your funds , as we are currently working with the bank to reconcile the funds in their position for availability and a graceful exit .
“ We believe as soon as tomorrow but no later than Wednesday , we will back with a new partner bank. ”

CBN orders banks to shutdown all crypto transactions in Nigeria