CBN Bans Cryptocurrency In Nigeria, Orders Banks To Block Accounts Of Nigerians Trading Bitcoin

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Central Bank of Nigeria has made a move to stop the trading of Cryptocurrency in the country.

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In a circular sent by the Director Of Banking Supervision, Bello Hassan to all Deposit Money Banks, Non-Bank Financial Institutions and Other Financial institution the CBN said there are risk associated with transactions in crypto currency.

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Meanwhile, the Central Bank Of Nigeria declared that dealing in crypto-currency or facilitating payments for crypto-currency trading is now prohibited in Nigeria.

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However, Banks have been ordered to check their system and identify the accounts of people who have transacted cryto-currency in the past and block their accounts with immediate effect.

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Posted by Mr Legit Source on February 6, 2021.

Tags: bank of nigeria, central bank, central bank of nigeria, crypto currency, Net worth, nigeria, SSS 3 And Final Year Examination: All Students And Teachers Should Take Note Of This

Categories: general, Timely Updates

One Response

1. […] CBN Bans Cryptocurrency In Nigeria, Orders Banks To Block Accounts Of Nigerians Trading Bitcoin […]

   by CBN Bans Cryptocurrency In Nigeria, Orders Banks To Block Accounts Of Nigerians Trading Bitcoin - Techbaze.com.ng on Feb 7, 2021 at 1:20 am