The Central Bank of Nigeria(CBN) has announced a total ban on bitcoin trading and other form of cryptocurrency in the country.

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This restriction will now make it illegal to trade cryptocurrency in Nigeria despite being the second trading country in the world.

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The apex bank released a circular prohibiting banks and other financial institutions in the country from carrying out cryptocurrency-related transactions.

The bank also disclosed this on their official Twitter account saying; “CBN prohibits regulated institutions from dealing in cryptocurrencies or facilitating payments for cryptocurrency exchanges…”

CBN put ban on Nigerians from trading bitcoin

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