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PiggyVest Assures of Funds Safety As it Opens New Virtual Accounts For Customers

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Amidst the uncertainties caused by the CBN directive to banks to close all crypto accounts in their systems, one of the fintech startups caught in the crosshair of the confusion was PiggyVest.

Even though PiggyVest is not a crypto exchange, many Nigerians were concerned about their funds with the online savings and micro-investment platform.

On this, the startup said in a statement: “We are not a crypto exchange, and we do not invest in cryptocurrencies; therefore the CBN circular on the 5th of February has NO effect on our service. All savings and investments are perfectly safe, as usual. This has no effect on our business.”  

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The startup also addressed the disabling of all Providus Bank virtual accounts.

It said: “Providus bank disabled virtual accounts for all payment providers including our partners, Monnify. This has affected every organization that currently uses Monnify to offer virtual account numbers to their customers. As of now, Providus is no longer offering virtual accounts to anyone.”

It added: “To avoid inconveniencing our customers who use bank transfers to fund their Flex savings and other wallets on PiggyVest, we decided to switch to another payment partner to offer Wema Bank virtual account numbers. We are working on offering more virtual account options in the coming weeks.”

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