Nnabuike Ugwu, an Abuja-based entrepreneur, has accused MoniePoint of restricting his account without clear and valid reasons.
Ugwu told FIJ that when he noticed his account was restricted on October 3, he contacted MoniePoint’s compliance team to know why and they said it was because of a September 14 transaction.
According to Ugwu, he had conducted a transaction on September 14, where he sold USDT worth N1 million to another party. Everything appeared normal at the time of the transaction, but MoniePoint later claimed that the buyer reported the transaction as fraudulent.
“I had to reach out to the sender on WhatsApp to ask why he reported the transaction as fraudulent, but he denied doing so. I took a screenshot of our chats and sent to MoniePoint, but they asked me to tell the sender to contact his bank to remove all the restrictions placed on my account,” Ugwu told FIJ.
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“The sender of the funds had to contact his bank and MoniePoint, asking them why they claimed he flagged the transaction as fraudulent, but rather than answer him, MoniePoint told him they had informed me of the reason.”
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Ugwu’s first email to MoniePoint
Ugwu said he visited the MoniePoint office in Abuja on Thursday to know what he did but they directed him to his account officer, who he said, knew little about the matter.
“I have provided all the evidence of the transaction, but they have refused to respond to my emails. They have refused to release my account,” he said.
When FIJ contacted MoniePoint via email for comments on the matter, a respondent asked this reporter to tell the account holder to reach out to them for further assistance.
The post Abuja Entrepreneur Sold N1m USDT. MoniePoint Has Restricted His Account Since Then appeared first on Foundation For Investigative Journalism.