Your Funds Are Secure! ๐
Our attention has been drawn to the CBN notice that was recently issued.
We appreciate all your trust and wanted to reassure you that your funds remain safe.
We will continue standing with all existing compliance requirements and regulatory frameworks. Additionally, we are currently liaising with the officials of the CBN for a possible resolution.
Furthermore, we have involved our legal professionals to manage the ongoing mediation.
Now I know youโre thinking: if bank accounts are closed, how do I get my money out in case I have a need for it in a month or even 3 months? ...And can I still make deposits to trade?
Kindly note that your US funds and equities are held in custody by Drivewealth LLC, a regulated broker-dealer in the US and protected by the SIPC, for up to $500,000 and you can always have your money sent to any dollar-denominated bank account in any country of your choice. You currently can withdraw into dollar-denominated bank accounts from over 130 countries.
Your Naira based assets are also held by our regulated counterparties - ARM Securities and Sigma Securities LTD (Both SEC-regulated broker-dealers) and Naira deposits and withdrawals are still being processed as usual.
Be rest assured that your funds and equities are safe and secure with Trove and that we are on top of all the happenings and would actively communicate with you all as things progress.
Thanks for all your support and confidence ๐๐พ
Trove Team