Panic as Providus Bank’s virtual payment services shut down

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In the wake of the closure of accounts with cryptocurrency transactions, Nigerians have reacted with panic following news that the Providus Bank virtual payment services had become unavailable.

The bank’s virtual payment services are used by several fintech companies such as Piggyvest.

Providus Bank reached out to its customers on Sunday to announce that the services were unavailable. No reason was given.

“We wish to announce that our virtual payment services are currently unavailable. In the meantime, customers are advised to use alternative payment options. Thank you,” the bank tweeted.

Piggyvest also reached out to its customers, saying: “We received communication from our Virtual Account Provider that the existing Providus virtual accounts are currently inactive.”

The company assured its customers of the safety of their funds and urged them to get new virtual accounts.

The news has set panic among Nigerians on social media.