Nigerian Founders Stranded As Startup Fave Mercury Pulls The Plug
- Mercury Bank closes accounts linked to businesses in Nigeria and other countries, causing disruption in the local tech ecosystem.
- The closure of Mercury accounts will impact Nigerian startups heavily reliant on dollar funding and international operations.
- Nigerian startups are now exploring alternative banking options to mitigate the disruption.
The decision by Mercury Bank to close accounts linked to businesses in Nigeria and other countries has had a negative impact on the local tech ecosystem. It has caused disruption and raised concerns about the treatment of African startups in the global market. The move highlights the challenges faced by startups operating in a complex regulatory environment and the need for alternative banking options.
