Hello Nairalanders, I'm a Crypto-currency trader and teacher. Recently, one of my student made a transaction to my GTB account and the bank detected the transaction and restricted my account following CBN ban on crypto related transactions. Its been two months, I cannot withdraw or send money into the account. My fear is, is there any penalty or charges against me if I present myself to the bank? It wasn't a fraudulent transaction and the money is not much but important to me. I need advice.

Helper1991:
Hello Nairalanders, I'm a Crypto-currency trader and teacher. Recently, one of my student made a transaction to my GTB account and the bank detected the transaction and restricted my account following CBN ban on crypto related transactions. Its been two months, I cannot withdraw or send money into the account. My fear is, is there any penalty or charges against me if I present myself to the bank? It wasn't a fraudulent transaction and the money is not much but important to me. I need advice.

If the amount in the account is significant, hire a lawyer to sue the bank and get an interlocutory injunction.
Withdraw all the funds from the account when it's unfrozen by the injunction. Pursue the case to a logical conclusion then rest.

If it's a kobo kobo account...just rest

GTB bank is very fond of that.

I know they didn't even notify you. That's their way.

Bank is expected to invite a customer when they suspect anything. At least give the customer an opportunity to clear himself or settle whatever issue it is.