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Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects

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Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects
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Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects

First City Monument Bank has put out an alert on accounts held by people between the ages of 18-30, asking staff to be on the lookout for money launderers and other criminal activities.

An internal email seen by Peoples Gazette titled “Compliance Advisory on Cryptocurrency Dealing/Transactions” is in furtherance of the Central Bank of Nigeria’s ban on the trading of cryptocurrency in the country.

Accounts “with high volume transactions operated by individuals between the age brackets of 18-30 years as signatories,” should be flagged for possible fraudulent activities by staff members, the memo said.

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Other account types with similarly discriminatory guidelines include youth savings accounts, business savings accounts, personal business accounts, amongst others. The bank did not define what constitutes a high volume of transactions, but the account types listed captured all of its available packages for Nigerian youths.

The internal email urges staff to monitor the listed accounts for red flags “in order to make the Bank safe and protected from the activities of criminals, organized gangs, money launderers and terrorist financiers.”

Crypto Ban: FCMB Begins Treating Customers Aged 18-30 As Fraud Suspects

This compliance advisory comes after the CBN ordered all Nigerian commercial banks to freeze the accounts of certain individuals for purportedly trading in cryptocurrency. The Gazette reported that two individuals, Nnamdi Francis Okereke and Nwaorgu Kingsley Chibuzor and a company TVS Hallmark Service Limited had been named in a Post-No-Debit directive issued by the banking industry regulator.

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But the FCMB’s memo marked the latest escalation in the enforcement of the CBN’s directive. Section 42 of the Nigerian Constitution prohibits discrimination against citizens under whatever guise. FCMB did not return calls and e-mails seeking comments about the leaked memo to staff members.

It was unclear whether or not other banks have instituted similar controversial policies against young people, but a spokesman for the CBN Osita Nwanisobi said banks were not asked to enforce the ban on cryptocurrencies on the basis of age or other forms of discrimination.

“Our press statement on cryptocurrency the position of the CBN on the matter. Thank you,” Mr Nwasinobi said in response to The Gazette’s enquiries about FCMB’s memo.

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Twitter Ban: FG Develops Code Of Conduct For Facebook, Instagram

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Twitter Ban: FG Develops Code Of Conduct For Facebook, Instagram

The Federal Government has developed a code of conduct for all social media platforms in the country, Festus Keyamo, Minister of State for Labour and Employment has disclosed.

Speaking on Channels Television programme ‘Sunday Politics’ monitored by DAILY INDEPENDENT, Keyamo who is a member of a committee set up by the federal government to meet with Twitter said the social networking site has almost complied with some of the conditions given to it by the government such as payment of taxes and opening of an office in Nigeria.

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Speaking on the code of conduct for all social networking sites, Keyamo said “The federal government is very anxious, not only Twitter. In fact, but we have also developed a code of conduct for all of them”.

“They have agreed to a code of conduct, that is Twitter and every other platform because we are using the example of Twitter to draw code of conduct for all other social media platforms such as Facebook, Instagram, Twitter and all of them” .

“We decided at the committee level that we don’t want to isolate Twitter and give them some kind of bias treatment different from other social media platforms like Facebook, Instagram and all of that. So, we are developing a code of conduct not for Twitter alone but for the general social media platforms on the responsible social behavior that they must comply with”.
“Code of conduct can be made as bye law under the NBC code because that is broadcast” he said.

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Crypto crashes because of black Friday discount

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Crypto crashes because of black Friday discount
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Crypto crashes because of black Friday discount

Cryptocurrency prices are tanking this morning, with some of the biggest coins recording double-digit percentage drops as the global Black Friday discount shopping event gets underway and fears over a new Covid “variant of concern” spread. The combined crypto market has dropped under $2.5 trillion, down from a peak of around $3 trillion earlier this month.

24-hour crypto market snapshot
Bitcoin (-7%) $53,793
Ethereum (-10%) $3,959
Avalanche (-18%) $103.12
Cro (-19%) $0.6518

The bitcoin price is this morning off by over 7%, with ethereum down by 10%. Bitcoin is quickly falling towards $50,000 while ethereum has edged below the closely-watched $4,000 level. Bitcoin’s price fall comes amid a sharp dip in its hash rate, a measure of the computing power directed at the bitcoin network. Quantum Economic’s Jason Deane spotted the decline.

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Fidelity Leaderboard
Ethereum rivals Binance’s BNB, solana, cardano and polkadot are all down by more than 10% with recent big gainers Crypto.com’s cro and avalanche down by almost 20% since this time yesterday.

Expect a lot of “buy the dip”-style advice from price boosters on Twitter and YouTube today and over the weekend amid claims of a crypto “Black Friday sale.”

Metaverses, the idea that we’ll all soon be living in a virtual world accessed via the likes of social media giant Facebook and VR headsets, could eventually create $1 trillion in annual revenue across the advertising, digital events, e-commerce and hardware industries, research from crypto investment company Grayscale has found.

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It matters because as people’s lives move more online, digital scarcity, smart contracts and online ownership created through bitcoin, other cryptocurrencies, and non-fungible tokens (NFTs) will help form the foundations of the virtual economy. Video games are already embracing tokenization and Facebook’s rebrand under the Meta umbrella has kicked off a wave of interest in how digital assets will fit into the new virtual economy.

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Igbo Girl Becomes Pilot After Dad Said He’ll Jump Off Plane If He Sees Female Pilot.

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Igbo Girl Becomes Pilot After Dad Said He'll Jump Off Plane If He Sees Female Pilot.
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23 Year-Old Igbo Girl Becomes Pilot After Dad Said He’ll Jump Off Plane If He Sees Female Pilot.

Meet – Miracle Izuchuwu, 23-year-old Nigerian born Private Pilot, Commercial Pilot (candidate) and Flight Attendant at American Airlines. She recently joined the elite group of 7% of females and 1% of black female Pilots in the world.

Hear her story...

I grew up in a society that did not encourage young girls to dream big, career-wise.

In 2019, I had an encounter with an Airline Pilot while working as a customer service rep. He opened my eyes to the possibility of becoming a Pilot. A few weeks later, I went on a discovery flight that sealed it for me..

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I came home that day, called my father, and told him I was considering becoming a professional Pilot.

He said, and I quote: “if he gets on a plane and sees a woman as the Pilot, he would get off the plane”

words cannot explain the pain and confusion I felt. I needed that validation.

What if, in raising children, we focus on ability instead of gender?

In a world that wants us to whisper, I choose to shout.

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