Following a court order freezing the accounts of investment platform, Risevest, the digital investment company has moved to assure its customers of the safe management of their funds and investments.

Recall that the Central Bank of Nigeria (CBN) obtained a court order freezing the accounts of 4 online investment platforms, Risevest, Chaka, Bamboo and Trove for operating without licenses and violating the country’s trading laws. The accounts were frozen for 180 days.

With more than 700,000 users between them, billions of naira belonging to customers are expected to be locked in in those 15 accounts. And Risevest has released a statement to assuage its customers that their funds are safe and there’s no cause for alarm.

“With regard to the latest news about us and the FX dealings, you can be sure that your investments and funds are safely managed, that funding and withdrawals will continue to be processed as normal, and that all our US operations remain intact.RisevestRisevest Technology

See also  Bitget Announced Panda Farm (BBO) Token Sale on Its Re-launched Launchpad Platform

The fintech also said it will work with regulators to ensure that all issues raised are properly addressed. It noted that investments on its platform are managed by regulated third parties in all jurisdictions in which it operates and users should not be alarmed by the development.

Risevest assures customers of funds safety despite CBN account freeze

Why CBN froze accounts of Risevest, others

A federal high court in Abuja granted a request by the CBN to freeze the accounts of the fintech companies namely; Risevest, Bamboo, Trove and Chaka. According to CBN counsel, Chief Michael Kaase Aondoakaa, the investment companies were operating as assets management companies without licences.

Furthermore, the CBN accused the companies of “illegal foreign exchange trading” as they were allegedly using the foreign exchange sourced from the Nigerian market for purchasing foreign bonds/shares in contravention of its directive issued in July 2015.

See also  Celebrate the Bitget BGB Whitepaper release: Win 300,000 BGB

The CBN also told the court that due to the foreign exchange deals conduct on their platforms, the investment companies were a major factor contributing to Naira’s weakening against the U.S dollars. All these, the apex bank says, are in violation of the country’s trading laws.

while the Federal High Court in Abuja adjourned the case to February 20, any party who still feel aggrieved can approach the court for a reversal before then. It remains to be seen if Risevest intends to tow this line in its bid to further assuage its customers.

Related Articles

October 19, 2021

Nigerians can use the eNaira without internet-enabled phones

October 19, 2021

Nigeria’s Sendbox, closes $1.8m seed funding to scale its logistics-for-social-commerce operations

October 12, 2021

Nigerian open banking startup Mono secures $15m Series A led by Tiger Global

170 thoughts on “Risevest assures customers of funds safety despite court order freezing its account”

  1. I enjoy what you guys tend to be up too. This type of clever work and reporting!
    Keep up the wonderful works guys I’ve added you guys to my own blogroll.

    Reply

  2. I’m not sure why but this web site is loading very slow for me.
    Is anyone else having this problem or is it a problem on my end?
    I’ll check back later on and see if the problem still exists.

    Reply

  4. What i do not realize is in reality how you are not actually much more well-preferred than you may be now.

    You are so intelligent. You recognize thus
    considerably in terms of this matter, produced
    me in my view consider it from numerous various angles.
    Its like men and women don’t seem to be interested unless it’s something to
    do with Lady gaga! Your individual stuffs nice.
    At all times care for it up!

    Reply

  6. An impressive share! I’ve just forwarded this onto acoworker who has been doing a little research on this.And he actually bought me breakfast because I discovered it for him…lol. So allow me to reword this…. Thanks for themeal!! But yeah, thanx for spending time to discuss this matter here on yourweb page.

    Reply

  8. Heya i am for the first time here. I found this board and I in finding It truly helpful
    & it helped me out a lot. I am hoping to provide
    something back and help others such as you aided
    me.

    Reply

  9. I’m extremely impressed with your writing abilities and also with the format for your weblog.
    Is this a paid topic or did you customize it your self?
    Either way keep up the nice high quality writing, it is rare
    to look a nice weblog like this one these days..

    Reply

  10. Currently it sounds like Movable Type is the preferred blogging platform available right now.

    (from what I’ve read) Is that what you’re using on your blog?

    Reply

  11. Good day! I could have sworn I’ve been to this web
    site before but after going through many of the posts I realized it’s new to me.
    Regardless, I’m definitely delighted I stumbled upon it and I’ll be bookmarking it and checking
    back often!

    Reply

  12. Hey there, I think your blog might be having browser compatibility issues.When I look at your website in Safari, it looks finebut when opening in Internet Explorer, it has some overlapping.I just wanted to give you a quick heads up! Other then that, amazing blog!

    Reply

  13. I am not sure where you’re getting your information, but good topic.

    I needs to spend some time learning more or understanding more.
    Thanks for excellent info I was looking for this info for my mission.

    Reply

  14. I think what you typed made a bunch of sense. However, considerthis, suppose you were to create a awesome post title?I mean, I don’t wish to tell you how to run your website, however what ifyou added a headline that grabbed a person’s attention? I mean 4 բնական միջոց զարկերակային ճնշմանբարձրացումը կանխելու համար — Boomsworld.ruis a little vanilla. You might peek at Yahoo’s front page and watch how theywrite article headlines to get viewers to open the links.You might add a video or a pic or two to get people excited about what you’ve written. Just my opinion, it could bring your blog a little livelier.

    Reply

  63. каскад коробицыно шератон москва шереметьево аэропорт отель
    radisson blu paradise resort сочи как доехать до сестрорецка башкирия ассы
    санаторий адлеркурорт официальный ржд буран гостиница мечта благовещенск

    Reply

  64. отель бештау пятигорск отели алушты на карте с ценами
    гостиницы в нерюнгри санаторий карбышева омск ивангород спа отели с бассейном
    курорт саки крым самшитовая роща абхазия купить тур крым саки санаторий полтава

    Reply

  65. аквариум отель красногорск официальный сайт одиссея лазаревское официальный
    пансионат эдельвейс пещеры кавказа купить путевку в анапу все включено
    аурелиу отель краснодар отель европа калининград официальный санаторий армения

    Reply

  66. октавиана санкт петербург усадьба шато каберне анапа
    санаторий соль илецк лечение цены сочи калинина 1 цены на отели в домбае
    авдаллини анапа переславль залесский гостиница виктория плаза пятигорск гостиницы и отели цены с бассейном

    Reply

  67. отели ульяновск ай петри цены
    отель люблю но москва небуг краснодарский край рейтинг санаториев в ессентуках
    киров гостиница старый дворик сукко курорты россии псков гостиницы с бассейном

    Reply

  68. хайат сочи отель официальный сайт белый грифон
    курорт украины гостиница в туле подворье верхние радоновые ванны пятигорск
    санаторий циолковского самара гостиницы бердска новосибирская область отель бастион крым

    Reply

  69. сосновая роща 3 автобус челябинск санаторий урал
    адлер дома отдыха гостиница в сарапуле цены кругозор отель кисловодск
    лучшие санатории санкт петербурга переславль залесский отели загородный отель с ребенком

    Reply

  70. гостиничный комплекс бриз ленина 50 новосибирск
    дружба база алушта киев гостиница архыз
    отель дзен керчь мини отель нумера отель интурист пятигорск официальный сайт

    Reply

  71. шумихина гора великий устюг волгоград гостиница апельсин
    grace kiparis грейс кипарис отель отдых в крыму жилье абхазия курорт пицунда
    отдых в горном алтае зимой абрау империал санатории с мацестой в сочи

    Reply

  72. гостиница вершина гуамка понтос плаза ессентуки маршрут
    гостевые комнаты на казанской санаторий южное взморье адлер официальный сайт цены санаторий нарзан кисловодск цены на 2021
    вилла дежа вю сукко россия пансионаты в екатеринбурге

    Reply

  73. спондилоартроз спондилез гостевой дом казьминский
    пневмокомпрессионный массаж база отдыха новый свет отель союз одинцово
    птичь санаторий официальный сайт голодание в санатории сауна в лазаревском

    Reply

  74. хостел bedandbike расписание электричек здравница
    курорт в центре москвы отель континент тобольск казанский отдых
    отдых в сухуми абхазия отзывы кабардинка санаторий жемчужина моря вельск гостиница сияние севера

    Reply

  75. отель премьер кострома лечение спинного мозга
    санаторий жемчужина крым гаспра генуэзская крепость кафа мидель гагра пансионат официальный сайт
    петрозаводск букинг пансионат аквамарин хоста хостел северодвинск

    Reply

  76. олива парк ялта лермонтовъ парк отель
    пенза гостиница авиа вешки парк отель официальный сайт отзывы о санатории машук пятигорск
    аис путевка смена лечебные программы в санаториях конференц зал севастополь

    Reply

  77. тур все включено коблево отдых
    лучшие отели алушты с бассейном раннее бронирование отель ibis санкт петербург центр
    бережковская набережная 10 гостиница витязево новогодние туры по россии из крыма

    Reply

  123. Together with the whole thing which seems to be developing throughout this subject material, your perspectives are generally somewhat stimulating. Having said that, I appologize, because I do not subscribe to your whole suggestion, all be it radical none the less. It would seem to us that your comments are actually not totally justified and in simple fact you are yourself not completely confident of your argument. In any case I did take pleasure in examining it.

    Reply

  125. Great – I should certainly pronounce, impressed with your site. I had no trouble navigating through all tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, site theme . a tones way for your customer to communicate. Nice task..

    Reply

  162. Irontech Doll どのようにセックスドールがとても人気があることがわかりましたか？WM人形の新しい頭5ft1156cmHカップ女性がセックス人形のためにポップスターを愛する理由シリコーンのセックス人形でセックスの夢を楽しむ

    Reply

  165. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You definitely know what youre talking about, why throw away your intelligence on just posting videos to your site when you could be giving us something informative to read?

    Reply

  168. It’s arduous to search out knowledgeable people on this subject, however you sound like you already know what you’re speaking about! Thanks

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *