Panic as Piggyvest, Risevest, others deactivate users’ Providus Bank accounts | The Guardian Nigeria News


Nigerians were thrown into a world of panic on Sunday as major technology-driven financial institutions removed their bank account details on their platforms.

Some of the fintech firms include investment and savings platform Piggyvest, Risevest, Agropartnership, Chaka and others. The removal of the account details is not a coincidence. All fintechs that make use of virtual accounts provided by Providus Bank for subscriber’s savings and investments announced the change.

“We received information from our virtual account provider that the existing Providus Virtual Accounts are inactive,” Piggyvest said in a statement.

Consequently, the fintech company had to change the bank account connected to each users’ savings on Piggyvest.

The company assured users of the platform that all their funds are safe and secured.

Another fintech Monnify in a email to users disclosed that Providus Bank decided that it will no longer support their virtual accounts on Friday.

Monnify asked its…

Source: Guardian Newspaper