Due to some news last year, we have been getting questions and concerns about the legality of our business in Nigeria, and we will be answering them here. 

Yes, Bamboo is legal in Nigeria. No, Bamboo is not banned in Nigeria, as a matter of fact, Nigeria is Bamboo’s headquarters. 

We are very transparent in our dealings, so here’s the rundown of what happened. 

In August 2021, the Central Bank of Nigeria (CBN) froze the bank accounts of Bamboo as a result of a misunderstanding of certain aspects of Bamboo’s operations. 

We have since provided the CBN with all the information they need and the case has been fully dismissed in courts. In addition, all brokerage operations on Bamboo are carried out by firms duly licensed by the Financial Industry Regulatory Authority (FINRA) in the US and the Securities and Exchange Commission, Nigeria.

It is important to note that our users’ investments were safe during this period and have continued to remain safe. We continued our operation as usual and not a single user was impacted by the legal case. Since the case’s dismal Bamboo has continued to operate while fostering even stronger relations with the regulator. 

Bamboo is available and free for users to invest in the U.S. Stock market on both iOS, Android and PC. With Bamboo, you can invest in over 3,500 companies in the U.S. Stock market for as little as $1. All you have to do is download the app on App and PlayStore, register and almost instantly, you’re able to start buying and selling. 

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