Nigeria’s Central Bank cracks down Accounts of 4 Major Fintech companies

CBN has been given the greenlight to freeze bank accounts belonging to Nigerian investment-tech companies Bamboo, Chaka, Risevest and Trove – alleging that they were operating without licenses as asset management companies and utilizing foreign exchange from the Nigerian market for purchasing foreign bonds and shares. 

We look at how this is affecting the start up eco-system in Africa's most populous nation.